Western Capital Consultants Says NO to Small Business Credit Crunch

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Feb 22, 2011, 08:15 ET

BOISE, Idaho, Feb. 22, 2011 /PRNewswire/ -- "It's time for the small business credit crunch to come to a close," says Craig Vogel, president and founder of Western Capital Consultants. In a report released last week, the Small Business Administration indicated that the total value of outstanding loans to small businesses plunged by $43 billion, or 6.2%, between June 2009 and June 2010. That's a drop of $59 billion, or 8.3%, from June 2008.

For Vogel, these numbers mean one thing: An opportunity to help. "Many business owners have been holding onto their cash and delaying upgrades during the unpredictable economy," he says. "Now that we're seeing signs of recovery, business owners need to reacquaint themselves with the faster-growth advantages afforded by SBA loan programs and leasing options."

According to Vogel, smart businesses are using cash to invest in advertising and relying on loans and leases for upgrades and expansion. He cites the McGraw-Hill Research conducted from 1980 to 1985. Out of the 600 business-to-business companies analyzed, the ones who continued to advertise during the 1981-1982 recession hit a 256-percent growth by 1985 over their competitors that eliminated or decreased spending.

"Now's the time to prepare for a more profitable future," Vogel says. "Businesses should go ahead and spend money for marketing. Cash is readily available for other capital needs. We offer loans to a wide range of businesses, to satisfy a wide range of needs. If you need to refinance real estate debt, upgrade your building or your equipment, or start or acquire a business, our small business loan program is a cost-effective source of financing."

Western Capital Consultants' small business loans are made through the Small Business Administration (SBA) guaranteed loan programs. Their SBA lending options include commercial real estate loans, existing business acquisition loans, equipment financing, loans up to $7 million, the 7(a) loan program and the 504 loan program for Small businesses requiring "brick and mortar" financing will loan up to 12 million. Designated as a preferred financial services company by Preferred SBA lenders, Western Capital Consultants is able to provide faster and more efficient processing of SBA loans.

Vogel is particularly excited about the SBA 7(a) loan program opportunity. "The SBA 7(a) Loan Guarantee program is one of our most popular programs. The proceeds can be used for real estate acquisition, construction, refinance, business acquisition, equipment acquisition or debt refinance," he says. "Almost any type of for-profit business is eligible. In most cases, retail businesses with annual sales of less than $6,000,000, manufacturing business with less than 500 employees, and service businesses with less than 100 employees are eligible."

Examples of businesses helped by these programs include auto repair shops, assisted living facilities, car washes, convenience stores, gas stations, daycare facilities, dental care offices, franchise businesses, funeral homes, fitness centers, hotels, insurance agencies, manufacturers, medical facilities, professional service companies, printers, publishers, restaurants, retailers, storage facilities, transportation companies, wholesalers, veterinary offices and more.

To learn more about Western Capital Consultants' small business financing and leasing programs, visit the company website at http://www.westerncapitalconsultants.com or call 1-208-319-3518 for a no-cost, no-obligation SBA loan program analysis.