Alternative Lending Approval Applications Rise
According to the Small Business Lending Index, banks are rejecting more than 8 out of 10 business loan applications. However, Alternative Lenders represent a high percentage of approvals compared to Credit Unions and other Institutions. Alternative lenders improved from 28.7% in April to 28.9% in May, 2023. This key metric is on the rise and the leading
index predicts an improvement to 29.4% for June, 2023. Final reports can be viewed by the Wallstreet Journal and Bloomberg. US Trust Business Loans and Alternative Capital Funding is still providing working capital for Auto Dealers and Transport Companies. We are also funding "A" credit borrowers with terms that go out 36 months. Factor rates are fixed and provide weekly payments with significant pre payment discounts.