In 2006 I saw some business financing trends that will probably continue through this year. As interest rates or the cost of borrowing money rises, there are less SBA loan applications. There are a few factors influencing this:
- Potential small business buyers have less equity in their homes. This means less capital available to purchase a small business. This article covers other ways to finance a down payment for an SBA loan.
- Higher interest rates are pricing some out of the market and increasing demand for lower priced businesses for sale.
- Unemployment is low across the nation. Fewer people are buying a business as a way to get a job.
At the same time there are more people who want to leave corporate America through purchasing an existing small business. This will continue as Baby Boomers retire and more small businesses go on the market.
Learn what it takes to get an SBA loan or prepare to purchase a small business with our small business financing webinars. These one-hour phone presentations are free and are scheduled almost every Wednesday.
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