The end of 2024 and the beginning of a new year gives us an opportunity to pause, reflect, and give thanks for the challenges we have faced, the opportunities we have found, and the opportunities that are yet to come. With that, we would like to express our deepest gratitude to each and every one of you who have been a part of our journey!
Throughout 2024, our key partners, clients, and partners have helped us grow and develop, reinforcing our commitment to delivering reliable financial solutions. This past year has shown its share of ups and downs, however it is because of the partnership with our clients, realtors, lenders, and fellow sellers that we have been successful. Together, we have experienced economic change and adapted to an ever-changing financial environment. As we look back on the year, we are reminded of the strength of our community and what we have achieved together.
The year began with hope that fears of a recession in previous years might be easing, but worries persisted. The Federal Reserve’s rate hike took the Prime Rate to 8.50% – well above the long-term average of 6.84%. It wasn’t until September that the Fed adjusted slightly, lowering the rate to 8.00%. These high rates have tightened lending limits, making eligibility difficult for many small business owners.
In the face of these market conditions, we have seen unwavering resilience from our customers and partners. Small business owners and real estate investors have continued to innovate, reinvent, and adapt to economic shifts with remarkable tenacity. We are proud to be part of that dynamic, helping entrepreneurs build a strong foundation and pivot to face new challenges. We believe in the potential of all the businesses and investors we serve, regardless of the obstacles that arise.
As part of that support, we’ve helped our borrowers access financing options that allow them to thrive, even in challenging times. Asset-backed loans, SBA loans, and secured lines of credit have been instrumental in supporting our clients over the past 12 months. Refinancing and loan consolidation have provided relief, helping to cushion the impact of higher interest rates. We have worked hard to position our clients for success by building strong borrower profiles, making them attractive to niche lenders. Private lenders have played an important role this year, often stepping in where traditional lenders hesitate, and we are grateful to be able to connect our customers with the services they need.
The ongoing transformation of commercial real estate, which is still heavily affected by the pandemic, has brought its own challenges. Office spaces are facing uncertainty as companies slowly return to local work with a renewed focus on additional services and flexible arrangements. As a result, we guide our clients in forced appreciation strategies for their real estate (CRE) portfolios, helping them extract value without the risks associated with new acquisitions. We are dedicated to supporting our clients as they navigate these complex shifts, working with them to focus on cash flow and stability from over-reliance on business capital.
Another area of rapid change has been the technology market, with advances in AI bringing unprecedented opportunities for startups. Since traditional lending options are limited in this space, we have been privileged to support these new businesses with unsecured lines of credit, SBA loans, and personal guarantee loans. By getting the right funding, our clients have been able to use emerging technologies, putting themselves at the forefront of a changing industry.
The strength of any community lies in its willingness to work together. In the world of small business finance, we are reminded every day that our communication and collaboration form the core of our work. Working closely with investors, lenders, brokers, and our extended network has allowed us to create a supportive environment for everyone. Thanks to this strong community, the challenges of 2024 have been less difficult, and we have been empowered to continue our mission of helping businesses thrive.
2024 has been a year of mixed blessings. While financing is a challenge, we remain committed to solutions now and in the years to come. As we continue through the holiday season and into the new year, we want to reiterate our sincere thanks for your trust in us. We see the hard work, risks, and sacrifices you make every day. In the new year, our commitment to you remains strong. We’ll be by your side through economic ups and downs, providing you with the financial tools and guidance you need to succeed. Here’s to a prosperous 2025—may it bring growth, opportunity, and success to you and your business.
