Nov 11, 2008

SBA-Backed Loans Dry Up, But We Know Who Still Has Money To Loan

WSJ excerpt:

When entrepreneurs can’t get conventional loans, they traditionally turn to loans backed by the Small Business Administration. But in recent months — as many banks turned away businesses and slashed credit lines — SBA lending also has dried up substantially. The retrenchment has become especially pronounced in the past couple of weeks. However, that’s a general statement and doesn’t affect all lenders. (source Wall Street Journal article)

There’s money out there, but you have to know where to look.

Today, Veterinaryloans.com received information that one of the nation’s largest SBA lenders put a freeze on lending until the end of the year. As recent as last weekend, lending representatives were scrambling to place loans in process, many with scheduled closing dates, with other lenders.

There is a frenzy out there of rumors, facts and fiction. We also confirmed today that one of veterinary medicine’s largest SBA lender was “alive and well” with money to lend, and plans to close on a $1,600,000 loan on Monday (11/10) and on time, as planned.

Who’s got money to lend and who’s in trouble? Ask us at veterinaryloans.com, your leading source of veterinary lending information and up today lending news.

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SBA-Backed Loans Dry Up, But We Know Who Still Has Money To Loan

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