Every other month, Bank of America Business Capital sends me an e-newsletter, Capital Eyes, that helps mid-size and large businesses and their advisors stay informed about developments in leveraged finance.
The most recent edition led with a story on current credit market conditions and what steps a business owner could take to ensure it has access to sufficient capital to continue to grow in the coming months.
My takeaways from this article are twofold and apply to any size company seeking a business loan.
First, while the credit markets are flush with capital, borrowers will likely see changes as the economy enters a less attractive phase of the credit cycle. Lenders will be more picky about which business loans they fund. By the way, this is consistent what I hear directly from chief credit officers, bankers and loan underwriters.
Second, these coming changes will emphasize how important it is to have a relationship with a lender who understands your situation and has the products and creativity to provide you with a business loan best suited to achieving your growth plans.
When should you take action for your business? There's no time like the present.
Need help finding the right lenders or telling your story? Click here to read "Matchmaking for Business Loans"
Related Tags: Bank of America, business loan, CapitalEyes, business credit
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