CEO Jared Weitz on finance roadblocks and common funding mistakes
Small businesses are prevailing in today’s U.S. economy, according to the Small Business Association, and a recent independent study shows that many of these companies find access to capital is now easier to obtain.
The Hartford’s 2014 Small Business Success Study reveals that 46 percent of small business owners surveyed believe it’s only slightly or not difficult at all to get a loan or other capital for their business. This is a 39 percent increase from 2012. The study also shows that 36 percent of the small business owners surveyed used personal sources of funding, such as personal savings, retirement savings or capital from their family and friends, over traditional sources of funding such as bank loans, bank credit lines or Small Business Administration (SBA) loans. This means that the banking system and private funding companies continue to be their most important supplier of credit.
But what is the funding climate really like for small businesses today? Jared Weitz, Founder and CEO of United Capital Source, launched the funding company in 2007 to help small businesses get up and running and accomplish their goals. In this podcast, Jared discusses the industry, his advice and some key factors businesses should consider when searching for a loan provider, and shares his background and vision behind the company.
Listen to the podcast here