According to data from the U.S. Small Business Administration (SBA), only 1.7 percent of the total $23.09 billion in SBA loans went to African American business owners in 2013. Not only is this preventing many black business owners from growing, but it is also impeding the progress of diversity in the marketplace.
How ACBL can help
Advantage Capital Business Loans (ACBL) recently issued a press release saying that they offer a way for African American and other minority business owners to get the financial assistance they need. The say that that they are a financial institution that is dedicated to offering simple loan processes for minorities with easy terms for repaying the loans.
They offer a much-needed source for African American and other entrepreneurs to go for help. Their business currently serves customers in 34 U.S. states with more to be added.
How ACBL does it
ACBL provides a different method of underwriting that enables them to be able to loan money to small- and medium-sized businesses. Instead of using the traditional personal credit, value of collateral, debt to income ratio and overall profitability of a business to determine loan approval, the company focuses on the efficiency and potential of a business. In most cases, funding can be completed in 2-5 business days.
Small businesses in general struggle to find banks and other lending institutions that will loan them capital, especially in today's recovering economy. ACBL offers a unique and simple lending program that offers hope and a promising source of financial help for African American and other minority entrepreneurs.
For more information, visit:
www.advantagecapitalbusinessloans.com