2021 ON PACE TO BE SLIM CAPITAL’S STRONGEST YEAR!!!!
SLIM Capital, located in Beverly Hills, CA, reported increased funding volume for the first half of 2021. With a stellar first half of the year, SLIM Capital is set to break its yearly funding records. Shervin Rashti, CEO is extremely pleased with how 2021 has begun and feels confident that there will be continued growth throughout the remainder of the year.
“With the pandemic having halted many businesses, we found there to be pent-up demand in multiple industries that were in full growth mode. With banks shrinking their credit boxes and limiting their funding limits, we took a counter-approach and increased our application-only limit to $300,000, and loosened our credit parameters. This allowed us to pick up a good amount of business in manufacturing, construction, transportation, medical, and numerous other fields. With systems and processes in place to allow for the increased volume, we are set up for continued growth.” said Rashti.
Here is a quick look at the first half of 2021 Business Lending for SLIM Capital:
– Average Amount Funded: $140,414
– Total Number of Applications Processed: 1,071
– Total Dollar Amount of Applications Processed: $230,150,479
– Top Industries: Transportation, Construction, Manufacturing
With our increased Application Only program up to $300,000, we have seen an increase of quality applications driving up our average dollar amount of fundings. Trucking accounted for 25% of SLIM’S fundings in Q1 and Q2. With the addition of four new team members in Operations, Sales, Accounting, and Underwriting, the efficiency in which deals are being processed is quicker than ever before. As SLIM Capital moves into the remainder of the year they strive to provide financing options tailored to help businesses with their needs. As a full-service direct lender, SLIM Capital looks for solutions to get transactions done that many other lenders cannot fund.