Direct Capital looks to provide more than $60 million to small businesses

4/13/2011

Direct Capital, a nationwide lender, is hoping to stimulate the financial growth of small businesses through a new small business lending initiative that will provide more than $60 million worth of funds to eligible companies over the course of the next three months.

As many companies emerge from the three-year recession, they are positioning themselves for growth by taking on more clients, purchasing new equipment and staffing up. Commercial loans are pivotal to this process - without the appropriate funding, small businesses will find it difficult to expand their operations.

"We are continuing to see a tremendous demand for working capital across our small business customer base," said Scott Lynch, director of client services for Direct Capital. "They are using it to increase their inventory, invest in efficiency, cover receivables, bridge payroll costs and much more. We are excited to be able to meet these needs and also deliver this capital quickly and conveniently."

Business owners are generating capital in other ways too. For example, a recent survey from the National Federation of Independent Business suggests that many entrepreneurs are considering raising the prices for their products and services.