PointBlank will occasionally slap on a miner’s hat and find the diamonds of data at Direct Capital. Today, the volume of financing for 2011 thus far.
The prevailing wisdom, espoused by pundits and economists the nation over, is that the economy isn’t recovering. The most optimistic out there believe we’re on a slow track to positivity, while the most pessimistic believe we’re headed for a double dip recession and hellfire and brimstone! That seems reasonable.
What can be lost in the delivery of this news is that things are not universally grim. Some industries are hurting, and small businesses have found the lending environment difficult to navigate. Yet in-house data here at Direct Capital shows a steady increase in the amount of money businesses are looking for and obtaining.
With one exception—a bitterly cold February that saw a mild dip from January—the funded volume from Direct Capital rose on a month-over-month basis. In fact, our second quarter level of activity reflects a significant (>30%) growth over our prior year & the highest since before this recessionary time.
We’re growing because business owners across the U.S. are expanding their investments in their businesses – buying equipment, investing to drive operating efficiency, to support customer demand. It’s proof positive that companies are growing despite the ‘soft patch’ the pundits are talking about, and making investments to prepare themselves for greater success.
One of the sales managers here at Direct Capital agrees that the economy is still tough, but says the company has combated that through a variety of means.
“We have seen an increase in demand for capital in the marketplace, despite the overall anemic economic numbers. We’re seeing companies in manufacturing, service – and construction – industries add and replace equipment this year,” said Director of Sales Scott Lynch. “Our steady volume increase is coming through strategic initiatives across all segments of our business. Our focus is on the customer experience.”
Lynch said that despite recent growth, Direct Capital still has a significant pipeline for future lending.
Knowing that, there’s hope for businesses of all stripes. A focus on customer service and aggressive growth may not be everyone’s panacea, but it can only help most businesses who are looking to right the ship after a few bad-to-mediocre years. And heck, if you’re looking for financing, we’ve got plenty left to access.
How has your business fared thus far in 2011?