New Surveys Indicate Growth in Small Business Lending, Peter Lee Coker, Chapel Hill, NC Professional, Celebrates Trend

PHILADELPHIA, PA, June 04, 2013 (Press-News.org) As a financial professional involved in business development efforts, Peter Lee Coker Chapel Hill NC resident, explains that many small companies require lending to launch a steady plan of growth. He notes that while the media and industry professionals have shown heavy support for small businesses in America during and after the recession, many owners have faced strong restrictions against optimal financing options. Although this climate has made it difficult for businesses to achieve steady expansion and increase revenue, Coker celebrates positive trends in the financial market that suggest small entities are once again finding opportunity--although limited--to receive loans.

In fact, a recent article from The Washington Post reveals, "The small business lending market has yet to thaw in the wake of the recession. However, several recent studies suggest the ice may finally be starting to melt. The credit health of small companies across the country improved during the first quarter of 2013, according to a new report by Experian and Moody's Analytics, surprising analysts, most of whom were expecting either no change or a slight decline over the first few months of the year."

Although this news is encouraging, Peter Lee Coker, Chapel Hill, NC professional, explains that some businesses in weak financial positions may want to consider their lending options before rushing into a loan that will not produce positive results in the long run. He states, "While a small business without proper financing may suffer those who are not successful and are still having to pay back debt will most likely suffer even more. For this reason, I encourage all business owners to recruit a reliable financial advising professional to not only provide guidance on financing, but also on how to transform that credit into profit."

While financing can create a wide range of credit problems for small businesses, the information presented in the article suggest a positive trend away from this result. The Washington Post states, "Sageworks, a financial information firm, released its latest private company report earlier this week, which shows that the average risk of business loan default has dropped to 4.1 percent from 5.1 percent last April. Meanwhile, the report showed the average length of time firms would need to pay off their current debt is falling."

"In terms of business development, the increase in borrowing bodes well for private companies. However, it is important to use these funds strategically to reduce default risk as much as possible. As parties suggest in the article, ability to repay these loans in a timely manner will depend on consumer spending trends--business owners need to keep this crucial factor in mind when allocating new funds," Peter Lee Coker, Chapel Hill, NC financial professional concludes.

ABOUT:

Peter Lee Coker Chapel Hill NC professional, has developed a solid career in the financial industry and has collected more than 40 years' worth of experience in the field. Having excelled in many positions, Peter Lee Coker has accrued wide-ranging business acumen. Today, this award-winning professional assists both domestic and international clients in a variety of projects, typically geared towards business development and financial management.