Financing from credit unions and small, regional banks are on the rise, according to one firm.
Biz2Credit, a New York firm that connects business borrowers to financial institutions, arranged a record $50 million in loans and refinancing in September. That figure brings the total amount arranged between lenders and small businesses to more than $500 million since 2007.
Still, "despite reports to the contrary, there is no shortage of small companies looking for funding, yet it is by no means easy to secure capital," said Rohit Arora, CEO of Biz2Credit.
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