Strike While the Iron is Hot; Using the Recession to Your Advantage

These last few weeks of our economic downturn got everyone wound up.  From business owners to CEO’s and back to the consumers – everyone is in a panic about the recession and the bailout plans.  But what is a recession, really?  How are the bailouts impacting your life?

As consumers we are all hurt.  The price increases on all goods and services for which President-Elect Obama is preparing already, will be upon us soon.

However, as small business owners should we think of this as a gain or a loss?

In what turned out to be a chaotic world of lending, those who survived see the current economic situation as advantageous.  As Citi Group, WaMu and NationalCity drop out of the market, the lenders that remain standing have already stepped in to help.

Small business owners – the time to expand is now, right now! Not next month and not next year.  As Christmas approaches, get ready to take advantage of the incredibly low prices while they last.  It is only a matter of time before they hike back up.  Business financing is at its lowest rates.  The trick now is to find the companies which are still financing small businesses and take advantage.

Begin your research online for business loans and business financing options.  Having strong business credit is a plus, but alternative financing is not limited to just the banks that look at credit.  Peer-to-Peer lending sites, merchant circles, and other social media outlets offer plenty of opportunities to find the money you need to expand your business.

Knowing that the weak companies will fall and small business loans are at their lowest – what can a small business owner do?  Start by checking www.prosper.com or www.allbusiness.com for some ideas.  At Initial Underwriting Group we have heard that many small business owners simply conduct a Google® search for “small business loans” and that gets the job done.  Whatever it takes, get out there and make connections with the lenders, underwriters, brokers to help with your financing needs..

Sincerely,

Ilya Bodner

Small Business Owner

Initial Underwriting Group