With the constant talk of COVID-19 dominating our conversations and how businesses, especially small business are affected, I’ve decided to take a different approach in the conversation. I did a bit of homework and as of January 2020 statistics, there are approximately 30.2 million small businesses located in every nook and cranny of the US. Of these businesses, about 1.59 million have weathered the many ups and downs of market conditions for over 25 years. Contrast that with just under 1 million small businesses having tenure under one year old. So, just doing the math, the testament for small businesses is that the vast majority grow to become tenured businesses. Business owners invest all their all to make a better life for themselves, for their families and for employees that they hire. All said and done, collectively, 99.9% of ALL businesses in the US are considered small businesses by the SBA Advocacy standard which deems any business with fewer than 500 employees as a small business. 

Creativity Resilience Perseverance

The entrepreneurial spirit of America is at its best when it comes to creativity, resilience and perseverance. Despite the circumstances that each of us face today, and yes we are all in this together. Small businesses endure through adversities and meet unforeseen challenges head on every day. Even when we find ourselves in un-chartered waters, and just as we have done so over the past few days, in the weeks to come, we will continue to stick together. We will support our fellow small business owners and we will rebound as we have all seen in times past.

The Tunnel

I’m reminded of two nationwide prior events that most all of us have endured… 9-11 and the ’08-’09 housing crisis. Many have even experienced regional natural disaster events, hurricanes, tornadoes, earthquakes, and more. Then, just as now, we remain steadfast in our plight to get through the tunnel. In the coming days, there may be a moment when we find ourselves in the middle of the tunnel where we darkness all around, but as we keep moving ahead, in the distance we begin to see a glimmer of light that will always lead us out.

In It Together

As your commercial lending partner, we know how recent circumstances are potentially impacting the buying habits of your customers. Please know that we are alongside you, making every effort to continue business as usual. Our credit policies have not deviated, and our processes have not been interrupted. We’re making available solutions that can help you do more of what you do…. Simple solutions such as defer payments, bridge loans and reduced rates. Small businesses will continue to invest in themselves, and when they do, just like yesterday, we will be fully prepared for what tomorrow may bring us.

Contact Us  or Apply Now , when you are ready to get started your next project.