LOS ANGELES, May 28, 2013 /PRNewswire/ -- In a startling turn of events, approval rates of small business loans from big banks have actually experienced a dramatic improvement in recent months. The Small Business Lending Index from Biz2Credit shows that since September 2012, lending of business loans by big banks has been steadily rising. Financial experts believe that new federal regulations are forcing lending by big banks; however, for quick business loans from financial experts who are truly invested in the success of small businesses, Advantage Capital Business Loans is still the premier lending institution.
"Financial institutions may have finally awakened to the fact that years of low approval rates for business loans can sour the tenuous relationship between banks and small businesses, discouraging depositors and borrowers alike," writes Tracy Kellahar, VP of Business Development & Lender Relations for Biz2Credit. However, many financial pundits suggest the recently imposed Dodd-Frank banking regulations largely inspired the growth in lending to small businesses. The Dodd-Frank Act requires large banks to meet new capital requirements in the wake of the federally enforced legislation. This is certainly preferable to the harsh lending conditions small business owners are used to, but there is little doubt that many small business owners will still choose to do business with ACBL, the lending institution that is famous for their small business loans that are simple, quick and easy to get approved.
The founders of ACBL created an underwriting model that substantially differs from the shortsighted methods of big banks and traditional lenders. When many big banks examine a loan applicant, they put the vast majority of weight on their personal credit, value of collateral, debt-to-income ratio and overall profitability. With their financial acumen and personal experience in small business, the founders of ACBL recognize that for small businesses, this method presents a major disadvantage. That's why they developed an underwriting model that puts most of the weight on a business's efficiency and potential, allowing promising and ambitious entrepreneurs an opportunity to achieve their goals.
Starting in October, the SBA will waive fees for lenders and borrowers for smaller ticket loan programs ($150,000 and less). While this is good news for small business owners, it is still a minor step forward compared to the customer-based culture at ACBL, where the entire funding experience regularly takes only 2 to 5 business days. The loan officers and management at ACBL recognize that when small business owners take the time and effort to apply for a loan, it's because the needs of their business are immediate and integral to success. At ACBL, loan recipients can expect loan officers to work with them to create a fair, manageable and custom-made loan for their specific business's needs. To receive a no obligation, custom business loan offer from Advantage Capital Business Loans, or if you have any questions about small business loans, visit www.advantagecapitalbusinessloans.com or call 877-379-0202.
PR submitted by www.Cyberset.com
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