With the nation watching the last few weeks as our economy weakens and the world's stock markets crash, we all wonder how long it will take for things to recover and get back to normal. It seems that with the new "bailout plan" the treasury department will unfreeze credit allowing businesses to once again borrow money.
Is this really true?
"Lenders are tightening credit to restaurant franchisees in a shift that could make it harder for owners to remodel existing locations and buy new restaurants. Tighter credit could impede plans by restaurant operators to remodel existing stores, install new equipment, open new locations or convert existing company-owned stores to franchised locations, said Sharon Zackfia, a restaurant industry analyst at brokerage William Blair & Co." read full article
We believe that even with these new plans small businesses will still have a difficult time obtaining traditional bank financing. It is important to plan ahead and secure the necessary capital you need to run your business.
Business cash advance - merchant cash advance programs are available to meet your needs. Even if your credit score has been bruised because of recent events... You are still eligible for an advance.
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