"320 Individuals and Businesses Benefit from Job Creation and Business Lending ," The IL Bridge Fund Survey

Top Quote Angelo Sferrazza, President of The IL Bridge Fund, suggests looking for other funding alternatives in the marketplace that do not depend upon traditional lending to start a new business, expand an existing one or invest in real estate. Alternative funding, such as The IL Bridge Funding can step in when traditional lending criteria creates a roadblock, and loan timing is critical. End Quote
  • (1888PressRelease) November 25, 2010 - According to Angelo Sferrazza, President, The IL Bridge Fund, institutional credit is still behind the curve in lending money to emerging businesses, regardless of the market demand for products and services.

    "This is why the 'The IL Bridge Fund Lending Programs" were developed," says Angelo Sferrazza, "to supply 'short-term' financing for those businesses who need more timely funding. The recent regulations for business lending criteria have made it extremely difficult for small businesses to acquire funds for business expansion. "Job creation and expansion is the key to turning around the economy, and Small Businesses are the engines driving the recovery, or so experts say. However," Mr. Sferrazza continues, "traditional lending regulations and lack of timely response to small business needs is putting on the brakes. We need to start thinking creatively about funding so we can really get this economic recovery back on track."

    Many agree with Angelo Sferrazza, according to a recent survey of past and current clients who benefited from Bridge Funding. With funding from the Fund, 22 businesses were able to have a median impact on 320 individuals in Job Creation or family and community economical benefit. These results are directly in line with the 'Jobs Ohio' initiative that is proposed by newly elected Governor, John Kasich.

    These individuals ranged from the employer and employees to the industries and suppliers. Clients questions addressed the need for timelier funding programs and flexibility on the criteria used in the decision making process. Almost all agreed that seeking funds in today's climate is both frustrating and difficult or non-existent.

    "Today it's more important than ever to become advocates for accessible and timely Small Business funding," says Mr. Sferrazza With the unemployment figures hovering near double digits many people are turning to creating small businesses for better control over their finances and futures. Angelo Sferrazza believes there is an immediate need for alternative lenders and traditional lenders to respond to that need.

    The IL Bridge Fund was created by Angelo Sferrazza in 2009. The IL Bridge Fund, an Ohio Limited Liability Company, is the funding source for Mid-market Emerging and Existing Companies and Real Estate Investors that have valuable marketable assets that can be used to secure an initial bridge loan (short-term). This approach to funding provides the time needed for companies to secure more permanent funding from an institution, or investment organization. The IL Bridge Fund has funded millions of dollars in transactions to date.

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