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Securing Financing in 2013

January 16, 2013

The New York Times recently published an article in its “You’re the Boss” blog titled, “The State of Small-Business Lending.” In it, the author laid out his predictions for business lending in the upcoming year.

It is no secret that new businesses have had trouble securing financing over the last several years, either from a bank or from the SBA. According to the article’s author, this likely won’t change in 2013. Unless you start a new franchise or have personal collateral, securing financing will be difficult.

However, if you’re a well-established business with some collateral, the SBA and lending institutions will be more likely to make positive lending decisions this year. If your business is going well, but you need a little extra cash in 2013 to develop a new product, open a new facility, or for any other reason, keep in mind that a business valuation that includes a full machinery and equipment appraisal is an important first step. Most lending institutions will insist on seeing a certified appraisal before making any lending decisions.

If seeking financing in 2013 is part of your business plan, contact the NEBBI today and we’ll help you find a certified appraiser in your area.

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute


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