The shape of the economy has been changing over the past year. The current administration has reduced regulations on small businesses, unemployment has dropped below four percent, and economic confidence has banks opening their checkbooks. If you have been looking to sell or buy a business, 2019 might be one of the best years in recent history to do so!
Since the implementation of federal tax cuts and spending increases in early 2018, US economic growth has seen a positive uptick. Consumer spending trends have also been on the rise, which is good news for business owners and buyers.
This economic confidence is primed to make it easier for small businesses to get a loan approved at a low interest rate. The reports coming out of 2018 show that small business loan applications have seen approval marks and interest rates matching those previous to the recession. In November alone, over half of all small business loan requests were approved.
This is good news for you, regardless of which side of the business sale you are on. If you’re looking to sell, increased financing opportunities means more qualified buyers for your business.
If you are looking to buy a business, you will have less trouble getting a loan approved than in prior years. Banks are being less strict about who they lend to, so you’re more likely to have your loan request approved this year. Plus, advanced data analytics are playing a big role in helping reduce lender risk, lowering default rates on business loans. If you are interested in securing a business loan, the CBI TEAM’s Loans 4 Business Program has 99% success rate!
Whether you want to buy or sell, the new year presents a fresh start to take action. Contact CBI TEAM to speak with one of our professional business intermediaries about a free, no obligation consultation today. 2019 is your year, and we can help make your business goals a reality.