What Role Can the SBA 504 Loan Play in the Manufacturing Recovery?September 30, 2013
CEO Alex Cohen talks about the role of the SBA 504 Loan in the rebound of the manufacturing industry on the Industry Today website. Companies in the manufacturing sector can enjoy the benefits of this small business loan product, especially given the challenging credit environment facing today’s manufacturers, many of whom cannot secure traditional bank financing.
In 2012, manufacturers contributed $1.87 trillion to the U.S. economy, representing 11.9 percent of GDP. Currently, manufacturing supports an estimated 17.2 million jobs in the U.S., with nearly 12 million Americans employed directly in the industry. And while many believe that the U.S. manufacturing industry is on the verge of an uptick, the Federal Reserve’s industrial-production data for May 2013 showed that the sector’s rebound from the recession had just about stalled, despite a large government stimulus.
How can manufacturing rebound and regain its stance as a competitive, productive industry? Click here to read more to find out.