By Lou Wallace
This seems to be a question a lot of small businesses are asking themselves these days. The simple answer is yes. While most of the Banks are obviously experiencing financial problems, others are not and there is money available for small businesses. Most small businesses feel they need to deal with conventional Banks. This does not present a problem in good times for most small businesses but is an absolute challenge in an economic atmosphere like we are experiencing today. Banks tend to be fickle and swing the pendulum from loose credit to no credit very rapidly. When times are good banks love small businesses but let times get rough or let the small business have any type of financial glitch and the Bank is no longer a friend. They all preach relationship as long as it is one sided
Today small businesses need to look beyond conventional banks and seek out relationships with business lenders, sometimes referred to as Asset Based Lenders. This group of lenders range from those operating across the entire country to locally owned companies operating in their own market area.
Performance Funding Group, LLC is a locally owned and privately funded asset based lender who has been providing several different loan products since 1997. Lou Wallace has been working in commercial loans since 1971. Lou Wallace can be reached at 602-912-0200.