Five Requirements For Securing An SBA Loan
I write about small business lending and growth. Opinions expressed by Forbes Contributors are their own.
Despite Donald Trump’s unorthodox approach to the Presidency, one must acknowledge that the economy has been strong since he took office. The September 2017 Jobs Report from the Bureau of Labor Statistics put unemployment at 4.2 percent. Trump’s long anticipated tax cut proposal was finally unveiled, which business owners hope will be beneficial to them. The Dow Jones ended September just seven points below its all-time record, while the S&P 500 and NASDAQ finished at new heights. All of these factors instill confidence in business owners who are contemplating start-up or expansion financing.
These economic realities have resulted in perhaps the most robust environment for small business lending. In fact, according to the latest Biz2Credit Small Business Lending Index™, a monthly analysis of more than 1,000 small business loan applications, business loan approval rates at banks continue to climb as we approach the fourth quarter of 2017.