— Sunovis Financial, a leader in loans to small businesses, recently announced that it now offers greatly expanded loan amounts, all the way up $350,000. The company is primarily known for SBA working capital loans of up to $150,000. But these newly-added loan products provide another level or dimension of service since they are capped at considerably higher dollar amounts, and they also can be used in a variety of flexible ways.
“Borrowers can apply for loans valued at $150,000 to $350,000,” explains Meghan Robinson, CEO of Sunovis Financial. “The loans can then be used for business acquisitions, equipment financing, real estate purchases, or refinancing of existing real estate loans.”
These larger and more flexible loans can take longer to process than working capital loans, due to more complex underwriting. But the availability of such adaptable funds to help grow small businesses is especially important right now. As the busiest shopping season of the year begins, for example, American consumers are feeling more confident than they have in years. That offers a rare opportunity for small businesses to capitalize on a stronger economic environment. Despite wage stagnation, payrolls are also expanding, adding to the capital demands of businesses. Bloomberg reported in early November that private payrolls increased more than 200,000 in October and factories have added nearly 25,000 jobs in the past two or three months. Construction is also on the rise, and the hospitality and leisure sector added 52,000 jobs last month.
“Everyone senses that the economy is back and that those who position themselves to take advantage of it will have a prosperous 2015,” Robinson says. “But if you don’t have access to money to expand your business that can be extremely frustrating. You are forced to sit on the sidelines while your competitors surge ahead. As the economy transitions in a positive direction, Sunovis is glad that we can offer our larger loan amounts, and our clients are eager to invest strategically in scalable solutions and smart acquisitions.”
Release ID: 68156