When it comes to business funding, certain industries face an uphill and almost impossible climb in their quest to raise working capital. From the lender’s perspective, it doesn’t matter that individual companies may be doing well and are successful. What matters is the industry’s overall inherent risk and its track record of collective performance on previous loans over the years.
As those in industries such as construction, can attest, for a lot of companies, it is oftentimes feast or famine, depending on numerous factors such as the existing health of the local or national economy. If the general economy is doing good, then by extension, the industry itself is presumed to be fine. But should the economy take a turn for the worst, then that industry’s weakness and vulnerability starts to show quickly, and so it also suffers and take a hit as well. Other industries, such as trucking, also follow a similar path, in addition to fly-by-night operators that tarnish that industry’s reputation among lenders. These are just a few of the scenarios that could land an entire industry on the infamous “Restricted” list for funding, making it increasingly difficult to find working capital.
There are quite a few lenders out there that are beginning to give those on the Restricted list, a second look and a good second chance. Fairfax Funding is pleased to now offer help with acquiring working capital help to companies in the following restricted industries:
- Construction and contractors – all areas
- Gas Stations
- Insurance Agencies
- Mall Kiosks
- Property Management Companies
- Staffing Agencies
- Real Estate Agents
- Travel Agencies
- Trucking Companies
- Wireless phone & accessories stores
- Home based business
We know what it takes to get funding for even the most challenging situations, and we have the lenders that are ready to fund these cases.