According to Forbes, the economic forecast for larger businesses is positive for most sectors for 2016 into 2017. These projections are based on upticks in housing construction, business capital spending and reduced dependence on imported energy. Here is a brief overview, and we’ll follow with our large business loans advisory.
- Consumer Spending: expected to grow in pace with the economy. Cautious consumers are withdrawing from spending, spending indexes indicate that the majority are not.
- Housing Starts are on the verge of significant growth. Current population growth justifies 1.4 million starts annually. However, the U.S. is still working off the surplus housing that was created by the last recession. This year the excess will be sold which should trigger a forecasted 10% residential construction gain for 2016.
- Uptick in Business Capital Spending: Manufacturing production has already increased by 5% in 2015. Projections see this trend continuing as companies upgrade or add equipment.
- Interest Rates: Expected to rise slightly as the Federal Reserve has held back on raising rates for some time.
- Governmental Spending: State and local government expected to raise spending by 3-5%.
- Stock Market: Higher interest rates projected to be offset by economic growth which will influence stock prices upward.
- Business Plans: Cautious optimism with a caveat toward not over-expanding.
Business Lending with a Personal Touch
As with any business plan moderation is key. Large business loans are readily available through traditional lenders, however receiving an approval and funding may take weeks if not months. For most businesses, of any size, timing is everything. When the opportunity arises, and with it the need for increased working capital, will your banker be able to come through for you? If your lender is National Business Capital, a leading alternative lender who has successfully loaned millions of dollars to businesses of every size and industry, the answer is yes. Our decisions are made within 24 hours or less and funds are available within a few days. We do not require a spotless credit record and even an open tax lien is not a deal breaker. Our application takes only a couple of minutes. Isn’t this the kind of lender you want to do business with? Call us: (888) 888-9124!