Trends

 

05 13 2015

Business Owners, Especially Women, Are Optimistic

05 13 2015

Optimism, Women-Owned Businesses Increasing

Small business optimism is on the rise – a sign that now could be the ideal time to explore different small business loan options.

Score, a small business mentorship company, recently released data concerning everything from improving sentiment in the market to growth among female small business owners.

Optimism shoots skyward

Since the second quarter of 2013, small business optimism has increased significantly, according to Score.

Thirty-seven percent of businesses said prospects were excellent, while 45 percent described them as good. Meanwhile, 57 percent of small business owners plan geographical expansion during the next year, meaning there could be a considerable increase in demand for small business working capital loans, merchant cash advances and other lending products.

Score also reported more than half of individuals surveyed said they plan to increase marketing and social media efforts. A quarter of respondents said they plan to hire and will hire mostly full-time workers.

Women take the lead

In addition to growing confidence, figures from Score show more women are swelling the ranks of small business owners.

“There are now 9.1 million women-owned businesses, compared to 8.6 million just last year,” the organization stated in a press release. “These enterprises generate a total of $1.4 trillion in revenue. More than 1,200 new businesses are started every day by women.”

As more and more women become small business owners, lenders are beginning to tailor business loans for women specifically.

Continued growth

The data from Score echoes another recent report on small business owners, this one from PNC.

According to the latest PNC Economic Outlook Survey, many small and midsized businesses in the U.S. are planning to raise employee salaries – a strong sign of positive business sentiment.

“Wage growth has been a missing piece of the labor market puzzle to date,” PNC Chief Economist Stuart Hoffman said in a press release. “With more business owners planning pay raises and higher prices for customers, these findings strongly support our forecast for a faster economic and jobs expansion and also send important signals to Fed policy makers that the economic recovery is speeding up.”

PNC reported that two in five business owners expect to raise employee pay over the next six months. This represents the highest number since 2008. Meanwhile, of owners looking to increase employee compensation, three in five plan to raise wages by 3 percent or more.

This and other positive indicators could make now the right time for owners to put their business expansion plans into action via small business loans.

Find Out How Much Funding You Qualify For

Fields marked with an * are required
By clicking this button I agree to all terms and conditions.

Terms & Conditions

General Acceptance

Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.

 

US Patriot Act:

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person and business that seeks a business loan.  What this means for you: When you apply for a loan, we will ask for your business name, address, and Tax Identification Number.  We will also ask for your name, address, date of birth, and other information that will allow us to identify you.  We may also ask to see your driver’s license or other identifying documents.

 

For Loan/Merchant Services:

The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.

 

For Equipment Services:

I hereby certify: (1) the information provided is true and correct, (2) you are hereby authorized to investigate all bank, credit, and trade references, and said references are hereby authorized to release any requested information to you or your nominee, (3) such authorization shall extend to obtaining personal credit profile in considering this application and subsequently for the purposes of update, renewal or extension of such credit or additional credit and for reviewing or collecting the resulting account, (4) this information may be transmitted by us to you and by you to underwriter(s) for the purpose of granting me credit, either electronically or manually, and that by submitting this application, I take full responsibility for transmission thereof, (5) I am over 18 years of age, (6) I acknowledge my rights under the Fair Credit Reporting Act, (7) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (8) this request is for business and not for consumer purposes.

The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status or age (provided the applicant has the capacity to enter into the binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. If for any reason your application for business credit is denied, you have the right to a written statement of the specific reasons for the denial. To obtain the statement, please write to National Funding Inc., 9820 Towne Centre Drive, San Diego, California 92121.  Funding amount and credit approval is subject to a full credit profile review.