Alan Markowitz, Assurance Services Partner, Featured in WOR NewsTalk Radio 710 Article "Financing Tips for a Tight Market"
By Marty Daks
Business owners who feel they’re having a tough time getting loans aren’t imagining things, according to Alan Markowitz, a New York City assurance partner at Marcum LLP, a national CPA firm. But companies that take some smart steps early on, have a better shot at getting OK’d for a loan.
“Funds are available, but banks are being very careful” Markowitz adds. “It’s generally easier to obtain a loan now, compared to say two years ago. But it is tougher when compared to five years ago.”
Some recent figures from the Federal Reserve seem to support Markowitz’ take. Although commercial and industrial loans across the U.S. ticked up by 8.7 percent in March, from eight percent in February, the growth’s still considerably lower than the double-digit climbs in the third quarter of 2011 and the 18 percent jump we saw back in 2007.