What is the current lending environment for small and midsized businesses?
There are still many ways in which to finance a business in today’s market. Using traditional financing sources, such as banks, is becoming an increasingly difficult way to secure an adequate amount with the proper structure. In today’s market, business owners must be open to both nontraditional lenders and a variety of potential financing structures. The key is having solid relationships at a variety of financial institutions that are actively closing financing transactions at the time your company is in the market. What should a business owner expect for the near and distant future? It is not going to get any better. We will be in a ‘lenders’ market’ for the foreseeable future. Business owners need to be better prepared and flexible when approaching financing sources. Knowing who is lending to a particular industry and how best to survive the underwriting process will be paramount to success. The days of having lenders knocking at your door and letting details sort themselves out dur
