The State of the Economy- Forget The Banks

FOR IMMEDIATE RELEASE

 

(Newswire.net—July 11, 2013)  Plano, Tx—It is probably most telling to discuss the state of the economy as it has affected the credit lending landscape of the world today.  Any thoughts as to the economic recovery are probably still in the offing as most banks view the economy still “limping” along.  Cash flows of businesses as they see them and with regards to strengthening balance sheets, are barely making a dent. 

 

So what are banks doing then?  They are making loans at the very high end with top tier credits and these loans tend to be very competitive.  Comparable to Wall Street financings when hard times hit, AAA and AA credits can fund but what about the rest?  Start up businesses and those with minimal D & B (Dunn & Bradstreet) files, have no shot at getting a bank loan. 

 

Fleet Biz Suite positioned itself to address this very conundrum facing those businesses other than the “top tier”.  They actually aid businesses to build their credit profile the proper way so that later on as they grow, they are groomed to enable themselves to tap commercial credit from the banks if that is where they choose to go.  In the meantime however, Fleet Biz Suite has a very methodical approach in helping businesses to position themselves with alternative funding sources.

 

Russ Anderson tells us that Fleet has over 2,100 alternative funding sources that they have access to for their business clients seeking financing with all different types of scenarios.  For instance, they have sources that will finance accounts receivable, signage, wraps for cars, and real estate developers doing rehabilitation projects, to name a few.   “Every conceivable type of situation” has an avenue for financing, states Anderson.  He also discusses how many people make the classic mistake of Business Financing 101, which is to tap their personal credit cards and friends and family where available.  The credit card co-mingling between business and personal is a “recipe for disaster” as the two should always be bifurcated. 

 

If credit on a business mixes with personal and a problem with the business arises, the FICO (Fair Isaac Company) score of the individual is then impaired.  Contact Fleet Biz Suite for  more comprehensive information regarding setting up the proper credit procedures for your business.  Fleet Biz Suite at:  www.fleetbizsuite.com    (800) 248-8817.