National Small Business Week (April 29 – May 5) celebrates the considerable contributions of entrepreneurs and small business owners to the American economy. Every year since 1963, the U.S. Small Business Administration (SBA) has dedicated this week to recognizing and awarding the nation’s top entrepreneurs and small business owners for their success.
According to the SBA, more than 50% of all Americans either own or work for small businesses, which create nearly two thirds of the country’s new private-sector jobs annually. At the same time, about half of all businesses fail after five years, a statistic that has remained surprisingly consistent over the years. Small business owners in particular face numerous challenges during the early years, and finding financing and managing cash flow are often high on the list. No one knows this better than we do.
Small Business Financing is What We Do
For 30 years, Summit Financial Resources has been helping small business owners meet their cash flow challenges and overcome the financial barriers to growth. When fluctuations in income, supply costs, or market conditions result in inconsistent cash flow, we put our expertise to work to determine the optimal funding choice to get your small business the working capital it needs.
We are a small business too, which means we have experienced many of the same trials, tribulations, and growing pains as our clients. We understand what it takes to successfully ride the wave of change, and it is in our DNA to help other small businesses use the stability our working capital funding provides to be the best they can be.
Small business financing is what we do. Our clients are start-up, early stage, and growing companies who want fast, simple solutions to accessing working capital when they need it. Many of them have been in business as long as we have and never needed financing until they hit a growth spurt or key customers started delaying payments. Other clients turn to us when traditional lenders are not an option.
A Unique Niche in the Lending Marketplace
The growing number of alternative lending choices is making it easier for small business owners, even startups and those with less than ideal credit, to obtain the financing they need. Summit Financial Resources occupies a unique niche in the lending marketplace, bridging the gap between easy, but expensive short-term financing and lower-cost, harder-to-get traditional loans.
We create custom financing solutions that use your accounts receivable and other assets as collateral, with a variety of product options including invoice factoring, asset-based lending, inventory lending, and equipment term loans. Our advance rates are extremely competitive, and we structure our credit facilities based on your specific needs, allowing for maximum flexibility and minimum restrictions.
Because Summit Financial Resources is not regulated like a bank, we can take more risks and make funding decisions more quickly. Being small and nimble means we can respond to the changing needs of your business without a lot of red tape and expand your cash flow in a matter of days or weeks, not months.
Over the past decade, there has been significant growth in innovative alternative sources of capital for small businesses. The lending landscape is rapidly changing, and larger companies and traditional lenders are now seizing the opportunity to provide new products and services.
Summit Financial Resources understands what it’s like to be a small company competing against bigger businesses. However, like you, we are confident that our longstanding relationships and hard-earned reputation for being honest, reliable, and exceeding client expectations will continue to serve us well.
As we celebrate National Small Business Week, we are honoring the vital role we play in helping America’s small businesses innovate and evolve. If you are looking for a lender who takes the time to get to know you and is invested in the future of your small business, look no further
Working Capital Financing is a few clicks away.
Summit Financial Resources specializes in working capital financing for small to medium-sized businesses that need increased cash flow. We provide working capital financing through invoice factoring, asset-based lending, inventory lending, and equipment financing.