You need a new piece of equipment to help your small business grow in 2013. You need financing to get it. The question on your mind is, what is the lending climate going to be like this year?
It depends on who you ask. For many banks, the answer is still pretty grim. Lending volume is starting to inch back toward normal. But while the Small Business Administration had its second highest volume ever in 2012, banks are still reluctant.
Alternative lending is where the growth is happening. Free from the restrictions that accompany bank lending, the forecast for alternative lenders is quite bright. That means it is also a bright forecast for those small businesses needing lending.
Let’s drill down to our specific company, while we’re on the topic. At Direct Capital, we’re celebrating 20 years of lending to small business, and we intend to make our own forecast. We’re forecasting another year of growth, which means our ability to provide small businesses with loans will grow as well.
In all, this promises to be a banner year for lending, which means your small business should plan to take advantage of the deals that will be out there among competing lenders. With Section 179 rebounding to more than half a million dollars, it’s probably the best year you’ll see for equipment leasing for quite some time.
Let’s talk about your financing needs for the next year.
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