Small Business Financing after the 2008 financial Crisis


Published: December 16, 2019

Are Small Businesses Worse-Off After the 2008 Financial Crisis?

Firstly, we want to stay uniform in the meaning of what a small business is, and this is from the Small Business Administration (SBA) definition, under 500 employees, and doing less than $7.5 in annual revenues. As have been discussed in our other blogs, small business is the lifeblood of entrepreneurship in America and throughout the world. And, without entrepreneurship, we would need another economy to replace it. Thus, the small business is essential to the entrepreneurial economy, and without capital, be it from the entrepreneur-small firm or other external sources without this liquidity, the organization will stymy or stagnate. So, the question is, are small businesses worse-off after the 2008 financial crisis?

Literature Research

According to Wille and Hoffer (2017), research done in this area after the 2008 financial crisis shows small businesses depend on capital from start-up, operational, growth, or expansion from equity or debt financing from the entrepreneur or friends and family or other external factors as banks and other financial institutions. The research has found that entrepreneurs-small business owners are more apt to use more of their capital (equity) over debt due to the financial institutions have become more risk-averse. Data shows that financing for small businesses is weak since 2008. The first 5-years are indispensable to small businesses, for this is the peak time for failure or going out of business. Two-thirds of companies fail within the first five-years, and much of this is due to a lack of capital.

As business consultants, we have developed partnerships with other organizations that specialize in entrepreneurial financial programs for entrepreneurs that can help mediate this problematic issue of business financing. With our loan calculators, we can have a quote for your business within minutes, approval within 24-hours, and the proceeds in the bank within 3-days. We know small businesses need capital to expand, purchase inventory, or other day-to-day business needs for the enterprise. As one who holds a Professional Doctorate of Business Administration in Entrepreneurship and Business Management, it is our position to solve real-world problems through providing solutions to these problems; and in this financing for eligible entrepreneurs-small business owners. Our agency programs require no collateral or tax returns for loans under $750,000.00 and loans up to $2,500.000.00.

Financing Criteria

  • NO UPFRONT FEES
  • In business 5-years +
  • Minimum of $500,000.00 in sales
  • No in a current bankruptcy
  • 651 + FICO
  • Last 3-months bank statements

We, as a Better Business Bureau Accredited Business, we believe in trust and delivering good faith in all business transactions. Call us for your quote today, and if you meet the above criteria, we can have the money into your bank account within days of the loan application. Call us at (866) 400-3040 from 9-8 PM CST Monday-Friday and 10 am-5 pm ON Saturday’s closed on Sundays.

Contact

Dr. Donald E. Mitchell www.donaldemitchell.com  Toll-Free: (866) 400-3040 Cell: (248) 210-9149  

Fax: (888) 413-0053  donaldemitchell1@msn.com

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