The end of 2024 and the beginning of a new year gives an opportunity for us to pause, reflect, and offer gratitude for the challenges faced, opportunities realized, and possibilities that are yet to take shape. With that, we’d like to extend our deepest thanks to each one of you who has been a part of our journey!
Throughout 2024, our valued partners, clients, and colleagues have helped us grow and evolve, reinforcing our commitment to delivering reliable financial solutions. This past year has shown its share of ups and downs, yet it’s through collaboration with our clients, real estate agents, lenders, and fellow brokers that we have succeeded. Together, we’ve weathered economic shifts and adapted to an ever-evolving financial landscape. As we look back on the year, we’re reminded of the strength of our community and the accomplishments we’ve achieved together.
The year began with optimism that the recession fears of previous years might ease, but concerns lingered. The Federal Reserve’s rate hikes took the Prime Rate to 8.50%—significantly higher than the long-term average of 6.84%. It wasn’t until September that the Fed slightly readjusted, lowering the rate to 8.00%. These higher rates tightened lending restrictions, making qualification harder for many small business owners.
In the face of these market conditions, we’ve seen unwavering resilience from our clients and partners. Small business owners and real estate investors have continued to innovate, reinvent, and adapt to the economic shifts with remarkable resolve. We are proud to be a part of that resilience, helping entrepreneurs establish a strong foundation and pivot to meet new challenges. We believe in the potential of every business and investor we serve, no matter what obstacles arise.
As a part of that support, we’ve helped our borrowers access financing options that allow them to thrive, even in challenging times. Asset-based loans, SBA loans, and secured lines of credit have been critical in supporting our clients over the past 12 months. Refinancing and loan consolidation have provided relief, helping to soften the impact of high interest rates. We’ve worked diligently to position clients for success by building strong borrower profiles, making them attractive to niche lenders. Private lenders have played a crucial role this year, often stepping in where traditional lenders have hesitated, and we are grateful to be able to connect our clients with the resources they need.
The ongoing shift in commercial real estate, still deeply impacted by the pandemic, has brought its own set of challenges. Office spaces face uncertainty as companies slowly return to on-site work with a renewed focus on added amenities and flexible arrangements. In response, we’ve guided our clients toward forced appreciation strategies in their commercial real estate (CRE) portfolios, helping them extract value without the risks associated with new acquisitions. We’re dedicated to supporting our clients as they navigate these complex shifts, working with them to focus on cash flow and stability over-reliance on venture capital.
Another area of rapid transformation has been the tech market, with AI advancements bringing unprecedented opportunities for startups. As traditional lending options are limited in this space, we’ve been privileged to support these innovative businesses through unsecured lines of credit, SBA loans, and personal guarantee loans. By securing the right financing, our clients have been able to tap into emerging technologies, positioning themselves at the forefront of a dynamic 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 connections and partnerships form the backbone of our work. Working hand-in-hand with investors, lenders, brokers, and our extended network has allowed us to create a supportive environment for all. Thanks to this strong community, the challenges of 2024 have been less daunting, and we have been empowered to continue our mission of helping businesses thrive.
2024 has been a year with mixed blessings. While financing is a challenge, we remain committed to solutions now and in the years ahead. As we move through the holiday season and into the new year, we want to reiterate our sincere gratitude for your trust in us. We recognize the hard work, the risks, and the sacrifices you make daily. In the new year, our commitment to you remains steadfast. We’ll be by your side through every economic high and low, providing the financial tools and guidance you need to succeed. Here’s to a prosperous 2025—may it bring growth, opportunity, and achievement to you and your business.
