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San Antonio Small Business Forecast 2022
San Antonio is a city that has been steadily growing in population and economic clout for decades. San Antonio small businesses have also grown, with many retail options available to the citizens of San Antonio.
By: Proactive Commercial Lending Group, LLC
San Antonio's economy will continue to grow, as well as its small business sector. In 2022 San Antonio will be home to more than 1 million people and with over 10,000 new jobs added each year on average according to the most recent data, making it one of the fastest-growing cities in the entire country.
San Antonio is a great place to start and grow a small business. The city's economy is strong, and its population continues to grow. San Antonio's small businesses will use technology to help them compete and succeed. This means more tableside ordering and checkout technology at bars and restaurants.
Today, small businesses are utilizing alternatives to traditional business loans. Banks pulled back on business loans amid COVID-19, tightening lending criteria and even halting traditional loans to focus on Paycheck Protection Program loans. But small-business loan approval rates continue to rise as the economy and consumer spending rebound. (Especially for businesses working with community banks and non-bank lenders.)
Also, the National Association for Realtor's website ranked San Antonio-New Braunfels at No. 66 among the top 100 most livable places to live, ranking it above both Austin (No 72) and Houston(80). This is due because it has a large inventory of homes. With a predicted growth rate of 8% coming into 2022 consumers can expect prices to continue going up while sales stay strong.
Moreover, San Antonio's ever-soaring housing prices are finally starting to level off, with the median home price surpassing $300K for the first time in history. Realtor.com predicts that as of next year it will climb another 3%.
All these figures clearly demonstrate that San Antonio's small business environment will enjoy a strong resurgence well into 2022 and perhaps set to propel it well into the future.
Proactive Commercial Lending Group, LLC was formed back in 2003 by Bruce Myles with the thought that many good, hard-working business owners were not getting the Banking Services they needed to survive, maintain and grow their business. This was due to the restrictions on banks (FDIC) or banks not willing to take a chance on their own customers and communities (or Lazy Loan Officers)!! For help getting Hard Money Loans in Texas, contact http://www.proactivelendinggroup.com