Study: Banks are lending, but firms don't need loans
Good news: Firms are finding it pretty easy to borrow money from lenders. Better news: Many firms don’t even need to rely on loans because they have sufficient cash reserves.
These positive findings come from a recent SmartBrief for CFOs poll.
The poll asked respondents, “How easy is it for your organization to borrow?” and here’s how they responded:
- 43% said they don’t need to borrow money because they were using cash reserves to finance operations
- 36% said it’s very easy — interest rates are low and banks are willing to lend, and
- 21% said it’s difficult, and they haven’t been able to find a lender.
If you’re among the 21% of firms that’s had trouble securing a loan from traditional lenders, here are some alternative places you can try.
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