Small businesses are key drivers of our economy, so its crucial that they have the tools they need to succeed, including access to options for business-sustaining capital, said Brock Blake, founder and CEO of Lendio. Its a positive sign for the economy that so many businesses are confident going into the holiday season, the biggest time of year for retailers.” Other key findings from the survey include: Just 27 percent of small business retailers said they didnt expect to need additional financing for the holiday season (another 37 percent are in wait and see mode). For small businesses needing capital, 81 percent said they would only need $50,000 or less, with building inventory (56 percent) and boosting advertising (28 percent) being the most common needs for additional financing. For companies seeking additional capital, 44 percent of small business retailers cited credit lines as the top source they would consider, followed by SBA loans from local banks or credit unions, friends and family, personal credit cards, SBA loans from a national bank, online loan marketplaces and home equity loans. If the need for capital should arise, 87 percent are confident they will be able to pay the loan back on time. The holiday rush can be a stressful time for small business retailers, whether its staffing issues, lack of capital, inventory, opening another location, boosting advertising or insufficient personal time, Blake said. Its inspiring that so many business owners are confident in their ability to repay financing. This time of year especially, we can all do our part to support the retailers who operate in and contribute to our local communities. In addition, the survey found that the added demands of the holiday season take a toll on small business owners, go to website who find various ways to cope. Many fight off exhaustion by increasing their caffeine consumption (58 percent); others report sacrificing personal needs (32 percent); and 42 percent of respondents say they are planning a vacation once the holiday season is over. To view the full survey results and infographic, visit https://www.lendio.com/blog/lendio-holiday-survey/ .
This information may be used to deliver advertising on our Sites and off-line for example, by phone, email and direct mail that’s customized to meet specific interests you may have. Historical Returns are Lending Club’s adjusted net annualized returns Adjusted NRA for Notes with Grades A through C. These amounts include investments of $3.9 billion in 281 community banks and $104 million in 51 CDLFs. As a rule of thumb, the ratio of debt to equity in your small business should not be more than four to one. If you already have a business, you’ll be asked for an income statement that shows your past performance. Small businesses must meet certain criteria to qualify for an SBA loan, including size requirements, financial standing and being in a for-profit industry. Advantages include lower down payments and longer repayment terms. Small Business Administration is a federal agency committed to furthering the growth and development of small businesses. Perhaps the most compelling cyclical factor tightening the loan spigot is the concern that increased regulatory requirements may be hurting small-business lending.
To be included in the Historical Returns calculation, a Note must have been originated prior to March 31, 2014. Fixed and variable rate options Most for-profit small businesses are eligible SBA loans originated at U.S. Responsive and Timely Solutions As an SBA Preferred Lender, our goal is to provide responsive and timely solutions to our borrowers’ financing needs. Bank is both an SBA Preferred Lender and America’s most experienced SBA lender. Here’s what they’re saying: “OnDeck made getting a loan so incredibly easy and simple – I knew I was making the right decision. This is problematic as over half of small businesses surveyed are seeking loans of under $100,000, leaving a critical gap in the small business loan market.