The leadership at our partner company had an interesting meeting last week with a consortium of credit unions in Seattle. They were engaging us to help create a strategic plan for creating a Credit Union Service Organization (CUSO).
Credit unions have a lot of capital to deploy right now and you would think they would be aggressively lending – but what we found out was that they are actually quite nervous about government audits, about defaults, about the marketplace in general. They need to lend, but they are cautious about it. Fear is a bigger concern then profit.
Local banks have the exact same fears about business loans and it constrains them as well. In fact, in our discussion with hundreds of local banks over the last few months, it appears as many as 60-70% of them are NOT REALLY LENDING! Combine this with the fact that the big 5 banks deny 80-90% of the applications for business loans they take in and you see the true state of money availability to the local business owner or real estate investor.
At Dividend America, we have resources around the country that ARE aggressively closing business loans. If a deal makes since, we have resources to fund it. That includes life companies, hedge funds, conduit lending, private money and even local banks. The kicker is credit unions that are lending.
We bring the resources of the country to the local investor or business owner and keep the money flowing to the businesses and entities that are the heroes that are really growing the economy. When we get a loan for that business owner, we are helping to open up jobs and opportunitiesand that’s what our country needs right now.
If you are looking for a loan don’t hesitate, don’t think it’s impossible … it IS possible to find financing. Give us a call, we help small business people get the money they need to grow their businesses every day. Now closing business loans in all 50 states; Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, Fort Lauderdale, Orlando, San Diego, New York, San Francisco, Phoenix, Atlanta, Tampa Bay, Detroit, Minneapolis-Saint Paul, Charlotte, Dallas / Fort Worth, Portland, Seattle, Cleveland, Oklahoma City, Jacksonville, Indianapolis, Nashville, Kansas City, Louisville, Milwaukee, New Orleans, Philadelphia, Raleigh, Sacramento, Salt Lake City, San Antonio, San Jose, Saint Louis, Tucson, Austin, Baltimore.