Tampa, Fla. (February 1, 2018) – Many small business owners are utilizing the services of credit unions due to lower rates on business loans, faster loan approval, better returns on savings accounts, free financial education, and more. GTE Financial increased its small business sector bringing in over $40 million in loans last year.
Getting a business loan can be a major hurdle facing future small business owners, however, it is often necessary to start or grow and cover day-to-day expenses, including payroll and inventory. GTE Financial is encouraging entrepreneurs to start their companies while the market is thriving.
“Small business lending is currently at its highest point nationally. It’s the perfect time for those who have a dream of owning a business to make it a reality or need additional business solutions for their existing company,” says Shamus McConomy, GTE Financial, Vice President of Member Business Services. “GTE Financial is a committed lending partner that is community-based with straight-forward, smart business loans with great rates and friendly service.”
The population of the Tampa Bay area has increased exponentially in recent years. The rapid increase in residents has led it to become the home of many small businesses. According to NerdWallet, there are 2.2 million small businesses in Florida and over 38,000 in the Bay area.
In 2019, GTE Financial is ready to assist more future business owners with securing their financial needs to launch the company they’ve always dreamt about.
No matter the size of the business, the credit union has a variety of options to fit your needs!
About GTE Financial
GTE Financial is a not for profit financial cooperative with more than $2 billion in assets and 24 Community Financial Centers located throughout West Central Florida. Chartered in 1935, GTE Financial is locally owned and operated in the Tampa Bay area, serving more than 240,000 individuals and businesses. More information on GTE Financial can be found at