New York, NY (PRWEB) January 24, 2013
Business Lexington recently reported a 30 percent increase in small business loans and over $200 million increase in new SBA business loans in Kentucky alone. This is certainly jolly news for entrepreneurs who have been denied access to credit repeatedly.
Yonni Rossa, CEO of Loans.net, projects that this year hundreds of billions of dollars in new small business loans will be made available to entrepreneurs across the country. Government initiatives, Small Business Administration resources, venture capital funds, and a host of private and non-profit initiatives will combine to propel the small business market into high gear.
Rossa whose company Loans.net specializes in providing small business loans to entrepreneurs is a part of this aggressive initiative. George, a customer of Loans.net and a budding business magnate, is thrilled by the availability of business credit for small business owners. “Working capital has always been tight,” explains George, “businesses simply cannot wait to go through the red tape and onerous documentation requirements mandated by big banks. We need alternatives. I was rejected by all local banks and other resources until I visited Loans.net. In just thirty seconds I was connected with lenders who were eager to serve my needs and within just twenty-four hours the business loan was directly deposited into my bank account.”
“Now we are talking business,” adds George.
Matthew, a small business loans analyst at Loans.net, predicts that the increase in funding made available to small business owners is going to increase manifold this year. He projects that each month in 2013 will witness a double-digit increase in small business loans. “This is a very exciting time,” explains Matthew. Businesses are making a comeback and entrepreneurs are only too glad to have the financial support that they have been denied for so many years.
In Rossa’s own words: “Working capital business loans can be used for any purpose. Whether a business owner wants to pay his employees or increase his marketing budget, they now have the flexibility of focusing on business expansion without the strains associated with a credit crunch.” “This is Business 2.0,” adds Yonni who has been in the start up business loans marketplace for over fifteen years.
“What’s better, though, is that business loan interest rates have been lowered too. It is like icing on the cake,” remarks Matthew.
As George explains: “The business loan interest rates that we were paying earlier were so high, our ROI would literally be deposited into the bank. Thankfully, that has changed now.”
It is evident that business loans are going to push the entrepreneurial bug to a new level and many new businesses will make an entry into the US market this year.
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