Why should you care, and what does it mean for your business?
In a nutshell, it means that banks nationwide are healthier. They restructured, received federal guarantees, invested in new stocks, and shed bad loans. All these efforts led to cleansed balance sheets, which, among other things, puts banks in a position to start lending to businesses again. Businesses like yours.
Depending on who you talk to, the U.S. has the healthiest banking system in the world right now, and statistics bear that out. According to the Federal Reserve, total outstanding bank loans to business has reach $1.54 trillion, up 30% from the post-2008 low. Overall, all this bank lending is boosting growth.
Which could mean growth for your company, too. Being able to borrow the money you need to grow your business could be the difference between profitable growth and valueless stagnation. And you do what to grow your business, right?
That’s where a robust Credit Insurance policy can help. Proving your Accounts Receivables are protected with a credit policy could ease lending risk because your bank knows your cash flow is secure. Credit Insurance could therefore be your first step to securing the loans you need to profitably grow your business.
We’d be more than happy to discuss the benefits of Credit Insurance during a no-obligation phone call or visit. Simply contact us to set it up.