Between high inflation, unemployment and interest rates, it's no secret that the American small business has been hit with challenge after challenge. Whether it’s been a season of layoffs or resignations, an inability to afford previously affordable goods due to rising prices, or simply a lack of funding to take the next big leap, small business owners across the country are looking for answers.
But there is hope. The U.S. Small Business Administration (SBA) team at Merchants Bank of Indiana works with small businesses of any shape, size and industry to provide ample financial solutions that make a positive impact and help keep your doors open. While SBA loans have been decreasing over the past year due to the current state of the economy, the SBA team at Merchants is proud to say we are ready, willing and able to take on any new business that comes our way.
In fact, just this past fiscal year, the Merchants SBA team was ranked as one of the top national SBA lenders. This feat does not come easy – our team has put in countless hours dedicating their time to supporting small businesses. In Q1 2023, the SBA team successfully completed 22 loans nationwide.
What makes the Merchants SBA team different from our competitors is simple. It’s our people. Our experienced team of passionate lenders know our customers and loan products inside and out, and that helps us find the most innovative and successful solutions for you. We know that your small business is your greatest financial asset – so your SBA lender should be a person, not an 800 number.
People often hear horror stories of SBA loans, citing how long it takes to receive a call back, get a loan determined and simply get it approved. The main reason why those horror stories exist is because small business owners go through inexperienced lenders. You won’t find that at Merchants SBA. All of our team members understand each and every nuance of the SBA lending program; after all, we’re a one-stop SBA-centric shop. Thus, our speed and process are enhanced, and we can turn around deals much faster than many of our competitors. Even if a loan request happens to hit an approval roadblock, we’ll work with you to take a different approach – recognizing the credit weaknesses and getting creative with our structure to recognize the risk and minimize, if not make it disappear.
The SBA division at Merchants Bank of Indiana is still loaning money, active and eager to help in any way we can. Just because interest rates are high and morale is low doesn’t mean you have to quit. Plug in with our knowledgeable personnel and start your journey to financial freedom. We are equipped to handle SBA 7(a), SBA 504 interim bridge loans and small business lines of credit.
The entire team at Merchants Bank SBA is dedicated to this industry, and we’re showing no signs of slowing down. Connect with us today to see what all we can do for your small business.
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