An umbrella when it rains
The recognized expression states “a bank lends you an umbrella when it’s sunny, then wants it back when it rains,” currently holds true as banks reallocate resources and loan primarily to top customers.
The Federal Reserve Senior Loan Officer Survey on Bank Lending Practices reports financial institutions are lending less money on stricter terms. The primary reason for credit tightening is economic slowdown. The strong economy of the past years led to a loosening of credit standards and a mismatch between risk and reward. Now banks have become more selective in their lending practices.
The good news is that there are non-bank lenders in the marketplace, like Northland Capital. As an alternative lending source having a wide scale of industry knowledge, flexibility, diverse product portfolio, and multiple purchasing channels, Northland Capital is well-equipped to meet the equipment needs of a wide range of clients, especially during challenging times when businesses may require adaptable and customized financial solutions.
Going beyond the bank, Northland Capital provides financial structures to thrive in good times and lends you an umbrella when it rains.
What sets us apart:
- We offer lease and finance products that traditional lender can’t provide
- We find the good in your business and build financing structures around it
- We offer the business capital you need, we don’t offer products you don’t need
- We only lend on the equipment; keeping lines of credit available
- We take a modern flexible approach to traditional financing
- We have greater autonomy over financing decisions
Get in touch to walk through your options and answer your questions.View All News & Views