Strong demand for small loans reveals by U.S chamber of commerce

According to the results of a 3-year study just released by the United States Chamber of Commerce (USCOC), demand for small business loans is robust and growing at a powerful pace.

Bridgeport, CT (prHWY.com) January 2, 2013 - According to the results of a 3-year study just released by the
United States Chamber of Commerce (USCOC), demand for small business loans is robust and growing at a powerful pace. According to UCCOC spokesperson Jonathan Griffin, more than 120,000 small businesses were included in the study, which was conducted between 2007 and 2012.

The businesses that participated were broken down into three different groups, namely those with gross sales under $1,000,000; those with gross sales of $1-$5 million, and those with gross sales of $5-$10 million. More than half claim that their business credit needs have gone unfulfilled, while 23% reported that their demands for credit have only been partially met. Meanwhile loans for less than one million dollars grew at 15% a year, and show no signs of slowing down anytime soon.

Small businesses loan requirements are routinely ignored by banks, because smaller loans produce less profit for thosehard money lenders due to the rigid way they structure their business model. But niche credit and finance companies that do step up to fill that void can expect great returns. The profit margins or rates they enjoy average 3% higher than what conventional lenders like banks are able to earn.

Meanwhile part of the study asked 3,000 small business owners if they use conventional banks or other sources for their own financing. A whopping 63% said that yes, they do use alternative lenders - while only 25% said they use banks.

MyHardMoneySchool.com represents collaboration between two experts with 60 years of combined experience, Andy Ross and Greg Kazmierczak. Kazmierczak helped create the very first Internet-based auto loan decision system. He has 25 years of experience developing training programs, financial web sites, and prominent financial institution e-commerce divisions. Ross, a 35-year veteran of the alternative lending sector, founded one of New England's largest lending institutions and has personally trained several hundred commercial brokers. He is also the author of a critically acclaimed book about alternative lending, "Think Outside the Bank," now available at Barnes & Noble, Amazon.com, and MyHardMoneySchool.com. To learn more visit MyHardMoneySchool.com.

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