Financing
| Review your current financing for cost savings opportunities |
| Published Monday, July 7, 2008 9:00 am |
Without knowing better, one might believe that now is not a good time to restructure business financing. A common misconception is that financial assistance should not be pursued when the economy is less than thriving. The good news is....
...now may actually be an excellent time to review your existing business loans
to determine if there are cost savings opportunities.
Despite the recent economic slowdown, commercial financing is still available to business owners. Banks have lendable funds and are looking to make business loans to qualified borrowers. With diminished lending in the real estate area, banks are looking for other outlets, with a particular focus on providing commercial business loans.
While credit requirements have become somewhat more stringent, business owners may still be qualified for new or restructured financing arrangements. This is especially true of businesses that have a positive historical track record. The establishment of several new banks has created a highly competitive market between lenders, which, in turn, may create an excellent opportunity for borrowers.
Business owners who believe that new or restructured financing arrangements would improve their operations and/or bottom line should evaluate today's market. Businesses that own their buildings may have an even greater opportunity for competitive, lower-cost financing.
WhiteKnight Solutions serves as a trusted financial advisor to businesses and professional associations. We provide our clients with "smart access" to money, helping you obtain the right financing needed to achieve your goals. Click here for descriptions of the various types of loans that you can review for potential cost savings opportunities or obtain to purchase new equipment, provide working capital, restructure existing obligations, or create a foundation for long-term growth.
A former bank founder and president, Stephen Barnett fully understands the bank industry and has been highly successful in helping owners obtain the financing they need to build and grow their businesses. Recently, Steve helped a local company convert from a factoring financing arrangement to a less expensive conventional asset-based line of credit, saving the company approximately $130,000 in annual interest costs and streamlining the accounting procedures for improved cash flow control.
For more information about current loan opportunities, please contact Stephen Barnett.
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