Prime Plus Capital

The SBA charged off $18.7 billion in COVID EIDL loans in FY 2024, a significant drop from $52 billion in FY 2023. Despite this, the program still holds an unpaid principal balance of $277 billion. PPP loans also saw write-offs in FY 2024, totaling $2.5 billion, compared to $10.6 billion in FY 2023 and $4.8 billion in FY 2022. In contrast, the SBA’s regular 7(a) loan program reported relatively low losses, with only $646 million in charge-offs in FY 2024, highlighting the disproportionate impact of COVID-era lending programs. #SmallBusinessFinance #BusinessLending #EIDL #PPP #SBALoans #BusinessInsights #EconomicRecovery #FinancialTrends #SmallBusinessSupport #LendingIndustry

Now that Donald J. Trump has won the 2024 election, here are some key takeaways of how his presidency can impact the MCA industry: Tax Policies: Extension of tax cuts and reduced corporate tax rates might enhance small business profitability, decreasing MCA demand as businesses access traditional financing options. Regulatory Environment: Deregulation may lower compliance costs, foster entrepreneurship, and encourage MCA usage for business growth. Trade Policies: Tariffs on imports could strain businesses dependent on global supply chains, increasing MCA demand to cover higher costs but raising default risks. Interest Rates: Potential monetary easing might lower borrowing costs, making traditional loans more attractive and possibly reducing reliance on MCAs. Consumer Spending: Tax cuts and energy expansion could boost consumer spending, benefiting MCA clients in retail and other consumer-driven sectors.

Did you know? - 60% of small businesses rely on some form of external funding to grow and operate. - Business loans have an average approval rate of about 25% at large banks, making alternative lending options vital. - SBA loans can have interest rates as low as 6.5%, offering affordable options for growth. - Alternative lending offers faster approval times, with some funding options available in 24-48 hours. - Working capital, equipment financing, and lines of credit are among the most popular loan types sought by small business owners. Reach out to see what Prime Plus Capital can do for you, today!

As the year wraps up, now’s the time to fuel your business for a strong finish. Whether you’re looking to restock inventory, expand, or manage cash flow, Prime Plus Capital has flexible small business lending options to help you end the year on top. Let's talk about your capital needs today. #BusinessGrowth #YearEndFinancing

As the year wraps up, now’s the time to fuel your business for a strong finish. Whether you’re looking to restock inventory, expand, or manage cash flow, Prime Plus Capital has flexible small business lending options to help you end the year on top. Let's talk about your capital needs today. #BusinessGrowth #YearEndFinancing

Empower your business with tailored financial solutions! ?? Explore a world of possibilities with our alternative lending options for small to medium-sized businesses. Whether it's a Merchant Cash Advance (MCA), flexible lines of credit, or robust asset-based lending products, we've got you covered. Fuel your growth and seize opportunities! ???? #BusinessFinance #SmallBizSuccess #AlternativeLending