Trends

 

03 14 2013

03 14 2013

Small Business Confidence Edges Up in February

In terms of economic performance, it’s been a rough start to the year. The tenuous fiscal cliff debate spilled into 2013 and the sequestration has sent several government agencies into crisis mode. However, such problems haven’t put a damper on small business confidence, according to a recent index release from the National Federation of Independent Businesses (NFIB).

Majority of index components show gains

The NFIB Small Business Optimism Index rose 1.9 points during February to reach 90.8, continuing a recovery from the November index reading that plummeted 5.6 points to 87.5, a level comparable with the July 2009 index during the height of the recession.

Overall, of the 10 components that make up the survey, eight grew month-over-month, one fell, and one remained unchanged.

The biggest gains in small business confidence were in plans to increase inventory and plans to make capital outlays, rising 6 points and 4 points month-over-month, respectively.

The other index factors showing growth from January indicated more small business owners planned to increase employment, thought the economy would improve, expected better credit conditions, predicted real sales would be higher in February, and listed more current job openings.

Fewer entrepreneurs thought it was a good time to expand in February, compared to the month before; the earnings trend indicator did not change.

Yet, despite the responses indicating an overall trend toward higher confidence in small business conditions during February, NFIB economic analysts said the story behind the index painted a less rosy picture.

“While the Fortune 500 are enjoying record high earnings, Main Street earnings remain depressed,” said Bill Dunkelberg, NFIB chief economist. “Washington is manufacturing one crisis after another,” he added, noting that, “Spreading fear and instability are certainly not a strategy to encourage investment and entrepreneurship … The Index gained almost two points last month; that was good news. But, until owners’ forecast for the economy improves substantially, there will be little boost to hiring and spending from the small-business half of the economy.”

In his comments, Dunkelberg did note the labor market improved enough to make February a, “decent month for a change,” especially in regard to the growth in private sector hiring.

Entrepreneurs who are buoyed by this increasingly optimistic sentiment and are planning to make capital outlays should first consider their financial position. If in need of financing, National Funding can assist with a small business loan to help cover expenses while owners make necessary investments in their enterprise.

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.