Small business is the engine driving much of our economic growth, and small business owners believe this is a perfect time to grow even more. In fact, according to a survey of small business owners, almost one-third are planning to expand. Large capital purchases like fleet vehicles and equipment are forecasted by 41 percent of business owners.Read More
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Topics: bank loan disability insurance
For millions of entrepreneurs, the dream of opening a new business or expanding an existing one would never come true without relying on a business loan. And according to the most recent study by the Small Business Administration Office of Advocacy, Small Business Lending in the United States, 2017, the total number of small business loans grew from 22.97 million in June 2013 to 24.22 million in June 2015, so business borrowing continues to increase.
Insurance producers and financial advisors: Did you know that local community banks and credit unions are a great resource for disability insurance referrals? Both are helping to reverse the decline of small business loans issued over the last decade. As lending institutions continue to tighten their internal risk assessment reviews, small businesses face greater adversity in securing loans to grow their business.