“We are accepting new clients and working hard to help them prepare to move quickly once the SBA lending activity resumes,” says David Nilssen, CEO of Guidant Financial.
BELLEVUE, Wash. (PRWEB) January 23, 2019
The government shutdown is effecting more than the 800,000 currently receiving no pay. Guidant Financial, a leader in small business financing, understands well the plight of small businesses and the effects the current government shutdown is having on them. It works with new entrepreneurs to find capital to fund businesses, such as SBA lending which accounts for about 20% of new business financing. The effects of the shutdown are being felt by small business entrepreneurs.
The government shutdown has ceased new SBA lending activity. Only those individuals who received SBA approval prior to the shutdown are getting funded at this time. This means that about two billion in funding has been delayed. Take that a step further, in 2017 68,000 small businesses were funded which means that (not factoring growth in volume) an estimated 5,600 businesses a month will not receive the capital they need to open, transfer or expand. And to compound the issue, this could also force existing businesses to see more expensive capital instead which could put them at further risk long-term.
To further the impact, for each business not receiving funding, it affects (on average) 13 new jobs not getting filled and a loss of over $1M being contributed to the U.S. economy.
Fortunately, there are other ways besides SBA loans to get capital for a small business. Guidant works with new and existing entrepreneurs to identify, evaluate and deploy customized financing solutions which include, but are not limited to, rollovers as business startups (also known as 401(k) business funding or ROBS), unsecured credit, and portfolio loans. ROBS are one of most commonly used options which allows entrepreneurs to invest their retirement funds into a small business without triggering a taxable event. Those funds can also be used as the down payment on a business loan.
“We are accepting new clients and working hard to help them prepare to move quickly once the SBA lending activity resumes. Thankfully there are other alternatives to funding for those looking to start or buy a business such as rollovers as business startups,” says David Nilssen, CEO of Guidant Financial. “We do hope that all financing vehicles are made available to all entrepreneurs soon – it’s important for our economy.”
Guidant helps entrepreneurs identify and analyze different ways to capitalize their new business by way of bank loans, retirement rollovers, unsecured credit, equipment leasing and more. It is committed to helping people succeed in small business, from helping first-time business owners identify and secure the right financing to investing in technology and providing a continuum of services to customers through the life of their business.
About Guidant Financial
Headquartered in Bellevue, WA Guidant Financial helps business owners secure financing to start, buy or grow a business. An industry leader in business and franchise financing, Guidant works with new and existing entrepreneurs to identify, evaluate and deploy customized financing solutions. Their services include, but are not limited to, 401(k) business funding, SBA loans, unsecured credit, and portfolio loans. In total, Guidant has helped over 20,000 entrepreneurs in all 50 states to invest more than $4 billion in funds to start small businesses, resulting in more than 85,000 U.S. jobs created. Visit Guidant on the web at guidantfinancial.com.