There is a void in the financial world specifically affecting small business. They just can’t seem to find money to finance their future through the traditional commercial banking channels. Also SBA is not very active in the $50,000 to $250,000 lending/guarantee space. So where does small business go for financing under $1 million?
The Micro Loan
As we know the government is trying to push all the right buttons for economic recovery. On the flip side commercial banking is stalled. The two are not meeting in the middle on a solution or for that matter working on the same problem. However BH Capital does have a solution. As a result of requests from the BHCL Affiliates we test marketed a program call the Micro Loan. Now this is not the traditional micro loan for small business of between $500 and $2,500. This is the BH Capital program of serving any loan request for just about anything under $1,000,000. This is a hot space that no one institution is paying any attention to at this time when sthey need all the help it can get. We recognized the need and filled the gap.
Small Business Financing Under $1 Million Dollars Is Now Much Easier To Find
BH Capital went to over two dozen sources providing various kinds of loan products from equipment leasing to unsecured term loans and everything in between. The sources agreed to accept our underwriting package and process the applications with a sense of priority. BH Capital gave the sources a target budget so they knew what to expect. After a few packages were put into the landing pattern with some of these sources we announced the program and made it available to the BHCL Affiliate group in November of last year. Since then it has been a huge success. Listen in and you will see how it works for the average small business.
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BH Capital Listened To The Small Business Cry For Help
The BHCL Micro Loan Program will not solve every small business financing needs but it is a start in the right direction. The Micro Loan Program is designed to respond quickly and introduce the small business owner to a world of financing sources that are hard to find and often times overlooked. It is a program that has many options insofar as the type of specific products that are available. In other words it is flexible and has a broad bandwidth. BH Capital listened to the small business cry for help.