Recently, commercial banks have become increasingly competitive in seeking business loans. They have begun to offer very attractive loan facilities. A recent New York Times article, Small Businesses Are Finding Bank Loans Easier to Come By, illustrates this national trend by profiling the experience of a single small business.
While this article focuses on a small business outside of South Florida, commercial borrowers local to this region have also begun to seek out competitive offers from multiple lenders in order to obtain the most favorable terms and conditions. It is important to note that these benefits are not limited exclusively to small businesses.
Small to mid-sized businesses are advised to explore their options before settling for the first loan option offered. While this can be a time consuming process, it is inevitably worthwhile. Nonetheless, many business owners fail to present their businesses in a manner that lenders understand and see as worthy of competitive terms. Compounded by the challenges involved in managing this process and the loss of time that could be spent on growing their businesses, too many businesses continue to ignore these opportunities.
For many, merit can be found in working with an outside party, such as WhiteKnight Solutions to assist in managing this process. WhiteKnight Solutions, an affiliated company of Daszkal Bolton, goes beyond managing inquiries and develops a loan submittal package that is presented to several lenders who will then actively compete for the borrowing company’s business.
By utilizing a professional entity, such as WhiteKnight Solutions, business owners can be assured the effectiveness of obtaining competitive loan offers will be had while at the same time business owners and executives are able to focus on growing their companies.
To learn more about how the business loan process can be more effective, contact Steve Barnett, Principal of WhiteKnight Solutions at [email protected].