Getting a Loan to Grow Your CNC Shop is now a Lot Easier
May 30, 2018
A few years ago, getting a loan to expand your CNC shop could be an arduous task. Banks and other lenders who were burned when the economy turned ugly were reluctant to fund small businesses. Today, the picture is much different.
Greater confidence in the economy, tax cuts that benefit lenders and small businesses alike, and slowly rising interest rates that mean greater profits on loans make providing capital to small businesses attractive once again.
Big banks, like Citibank, for example, approved more than 25% of small business loans in recent months, according to published reports. Smaller regional and local banks approved almost one half of small business loan requests. Even pension funds, insurance carriers and other non-traditional sources welcome smaller companies.
Of course, CNC shops that work with Gosiger have always had access to attractive financing and leasing terms. It’s one more way that Gosiger serves the manufacturing community as it has for more than 95 years. Learn more by contacting your local Gosiger facility