CLARK, N.J., Feb. 21, 2022 /PRNewswire-PRWeb/ -- New Jersey-based company JSV Capital recently reported that small businesses utilizing lines of credit are increasing by nearly 40%. While these loans are at a higher rate than years past, JSV says that there are several reasons for this increase, most namely growth in business, a rise in material costs and higher labor wages.
"In previous years, lines of credit were lower due to programs such as the U.S.'s Payment Protection Program (PPP)," Jason Venturelli, CEO of JSV Capital says. "Though PPP was a massive help to businesses that needed it, eventually our clients needed more funding—and fast. Opening a line of credit gave our clients the safety net they needed to have more cash on hand, it particularly benefited small neighborhood businesses."
JSV Capital has positioned itself as a leader in the capital market. And over the last couple of years, they've seen clients not only weather the storm, but thrive and expand. With that, however, was a higher demand of capital and equipment. Despite the Pandemic, small businesses as a whole are continuing to see healthy growth, with lines of credit increasing by as much as 40%.
"Just a few years ago, small business owners—both clients and individuals I know personally—were overspending. With the new economic climate, businesses are being more cautious and putting cash towards maximizing profits and keeping costs down. They're simply creating more opportunities with the capital they receive." Venturelli explains.
Venturelli also added that the status of our small business economy is rather healthy, calling it a "new normal." Thus, business owners are often encouraged to invest more in their brands and companies than ever before, and it's benefiting their bottom lines.
JSV Capital designs its loan and credit programs to remove the barrier for entry, including the hassle of lengthy application processes and expensive fees. Local business owners in need of unsecured lines of credit are encouraged to learn more at http://www.jsvcapital.com.
About JSV Capital
JSV Capital currently operates in all 50 states and is devoted to assisting neighborhood small business owners, getting them the funding their company needs quickly. Jason Venturelli and his team know how unique each individual business is and strive to curate financing options regardless of what the need for capital is. One of the ways they help businesses achieve success is to assist every step of the way through various forms of communication until owners are fully paid off.
Media Contact
Tom La Vecchia, X Factor Media, 9085911490, tom@thexfactorteam.com
SOURCE JSV Capital
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