Forbes Magazine posted an article on July 19th entitled, "Are You Ready For A Bigger Bank?". I get asked this question from time to time and I think it’s an important issue for businesses of all sizes seeking bank financing.
The article includes five signs that you may have outgrown your local bank. The one that particularly caught my eye is “credit crunch”. In my experience, this is the reason many borrowers decide to pursue alternative sources of financing. Sometimes this involves just switching banks and other times switching to another type of financing such as asset based financing products like p.o. financing, factoring, asset based revolvers or leasing.
Check out the article – feel free to let me know how your company has dealt with a credit crunch!
As always, please feel free to contact me with questions or ideas for future articles!
Related Tags: Forbes, banking, factoring, purchase order financing, leasing, cash flow, working capital
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