It’s widely accepted that growth requires money and that the current economic climate would be characterized as growth oriented. However, not everyone is flush with cash. When you need credit to invest in the growth of your company what options do you have? Seeking alternatives to the traditional methods might be an answer in this changing market.
Credit providers play a critical role in supporting business growth, according to Dan Gavin, a principal at Bernstein Private Wealth Management. Banks, capital markets, and nonbank lenders such as asset managers, insurance companies, pension funds, and specialty finance companies, known as alternative credit providers, efficiently allocate capital to borrowers. The financial health of individuals and businesses depends on reliable access to financing to manage everything from daily cashflow needs to larger-scale business expansion. This access, in turn, fuels employment growth and consumer spending. Through a virtuous cycle, broad access to credit becomes a driver of economic growth.
Read the complete article on the Multi-Unit Franchisee Website website
Sign up for our monthly e-newsletter to stay informed on how to overcome related succession planning issues.