“This is a great atmosphere that’s happening right now in our country,” McMahon said.
More than 96 percent of the businesses in the country are small, and they employ about 49 to 51 percent of American workers, McMahon said. “It’s just imperative that we keep them strong and keep them growing.”
It is a good environment for borrowers, too. Overall, the economy is solid, markets are strong, and interest rates are low.
U.S. small businesses are seeing one of their strongest years in terms of financial performance and on the balance sheet. The customers have positive revenue and net income trends, and their debt service coverage ratios are strong, he explained.