We faced a problem we thought to be extremely unlikely, our bank almost went bankrupt. In an attempt to bolster its depleted reserves, the bank forced us along with many other business customers to refinance.
Blue Bell, PA (PRWEB) March 07, 2013
44 Business Capital LLC tops $100MM in its loan portfolio and serviced assets. In 2012, 44 Business Capital extended 22 loans for $33,556,000 to small businesses in the region finishing the year as the top SBA lender in the Philadelphia District by loan volume. 44 Business Capital, headquartered in Blue Bell, Pennsylvania is a direct lender leveraging the U.S. Small Business Administration's 7a loan program giving small businesses greater access to capital. Recent loans range from $500,000 to $5,000,000 providing financing for debt restructuring, real estate and business acquisitions.
Greg Poehlmann, 44 Business Capital President said, “This year 44 Business Capital continues to build a quality loan portfolio by penetrating its existing markets and prudently entering new ones. 2012 saw us expand our footprint to the DELMARVA region. We are excited about the opportunity this particular market presents. Demographically speaking, our research shows it has similar characteristics to the Philadelphia market. “We continue to see small business borrowers struggle to get access to capital.”
According to Poehlmann, 44 recently extended $3.1 million to a Buck’s County vet hospital and pet boarding facility. “Our client, Dr. Randy Weis of Doylestown Veterinary Hospital and Holiday Pet Resort, was being asked to leave his bank,” said Poehlmann. “After years of paying on time, the incumbent bank decided they no longer wanted the relationship. Whether you are a well-established business or a younger company, bank credit is still tight.”
Dr. Randy Weis explains, “We faced a problem we thought to be extremely unlikely; our bank almost went bankrupt. In an attempt to bolster its depleted reserves, the bank forced us, along with many other business customers, to refinance at one of the most difficult times since the Great Depression.”
44 Business Capital is a preferred SBA direct lender serving Philadelphia, Pennsylvania, New Jersey, Delaware, Baltimore MD, Northern VA, Washington DC, and Florida. For further information, please contact 44 Business Capital at 215.985.4400 or online at 44businesscapital.com. The main office is located in Montgomery County at 1787 Sentry Parkway West, Suite 210 Building 16, Blue Bell, PA 19422. 44 Business Capital is also an approved SBA direct lender in South Florida with an office in Kissimmee, Florida.
Contact: Greg Poehlmann, President 44 Business Capital LLC 215.985.4400 ext. 229