Economy is on the rise again as the real estate businesses are rebounding, unemployment is descending, and stock market is going more profitable than before. Many small businesses are getting access to working capital because they are showing profitability and improved performance over the years. Lenders are more eager to help out small businesses getting approved for funding. According to Biz2Credit Small Business Lending Index for April, the loan approval rates of big banks, credit unions, alternative lenders and freshly, institutional investors are on the rise as well.

Big banks are approving 20% of the small business loan application requests, whereas small banks are approving more than 50% of the loan applications along with the lowest interest rate levels.

Small business owners who hold their expansion plans in 2014 due to shortage of capital can now act upon them before the year end. There are 4 reasons as to why you should borrow money before the end of 2015:

  1. Aren’t Investing? Competitors Can Overtake

As economy is improving significantly, small business owners seem to spend in their business growth. So, if you’re holding your business expansion plans for now, there’s a chance that your competition might overtake you. Due to improved economic conditions currently and greater sanguinity for the most part, businesses have been ever more enthusiastic to apply for loans to expand and grow. If you go on the wagon, you will hang back.

  1. Banks Willing to Deal Prior to Year End

Just like a telesales representative work hard to fill their sales shares by the month end and push harder as month-end comes near, banks also want to close deals with businesses to make their cash books look better before the year end. While 2015 is continuing to be a good year for business financing, it hasn’t been as booming as forecasted. It can still be better.

  1. Lower Interest Rates Will Rebound

The economy is recurring, and the Great Recession befalls five years ago. The ricochet has been slow but sturdy, and to make small business lending sparkling, Fed has kept interest rates low, making private sector jobs the biggest share in the USA. Though, if prices starts rising, as predicted, the Fed will have no alternative but to lift interest rates next year. Therefore, if you’re willing to apply for lending with attractive rates, apply for it before the year end.

  1. Lending Is On the Rise Again

Advancement in technology has permitted business lenders to approve loan requests faster than ever before. Improving economy along with increase in business credit scores lessen the risk involved in loan making for lenders. Lower interest rate and has resulted in lowering the cost of capital for small business borrowers. This decrease in interest rate also assisted merchant cash advance lenders to drop their interest rates to support lending. Also, many institutional lenders are escalating the struggle in the small business lending, contributing to lower interest rates for small businesses.

Based upon these reasons, every small business owner who has considered borrowing money for expansion will make a wise decision by applying for it now rather than later.