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Homelessness on Economics: Alternative Small Business Loans

Homelessness is still a major concern. In fact, it doesn’t bring positive impact on the economic competitiveness existing in the country. To learn more about the problem of homelessness in the U.S. and find exceptional alternative small business loans from a true business funding expert. Just follow the lines below.

Alternative Small Business Loans & the Impact of Homelessness
Today’s homelessness is a disaster that’s got an economic nature rather than is associated with mental health or alcoholism, or other problems like these. Globalization and urbanization have brought an immense impact on how housing markets develop and how basic income levels are determined. This has made today’s problem of homelessness grow even more.

A 2017 report concerning the assessment of homelessness, as well as housing and urban development revealed the 1st time increase of homelessness in the past 7 years.

In fact, homelessness occurred to 553.742 people on a single night in the U.S. in 2017. California has reported the highest level of unsheltered homelessness. Particularly, 68% of California’s homeless population has no shelter, and 24% is unsheltered in the other parts of the country.

The federal government provides grants to assist homeless people. The assistance can be received through the Continuum of Care (CoC) Program by the United States Department of Housing and Urban Development’s (HUD) Homelessness is a major concern for business owners.

To contribute to the elimination of homelessness, businesses can do more than one could think. For this and also for growing your business, you might need access to the necessary capital. That’s where respectable alternative online lenders like First American Merchant step in.

FirstAmericanMerchant.com, a reliable and experienced high risk lender and processor, provides unique business funding solutions such as alternative small business loans at the cheapest rates in the space.

Homelessness vs Economic Competitiveness
Today’s homeless crisis stems from a number of issues, including growing rents caused by urbanization, as well as increasing income inequality. Higher rent and lower incomes have created a class of working homeless in many of the areas mentioned above.

Moreover, low wages and high unemployment rate have raised the number of homeless people in the suburbs and rural places. Besides, homelessness has increased in recent years due to the lack of economic opportunities rather than low cost housing.

Let’s take New York. Here, homelessness is fundamentally caused by the growing housing affordability gap. The latter has become more vivid in recent decades.

On the whole, the higher risks of natural disasters, affordability crisis, and the fact that the social safety net is becoming less certain in the country, more coordinated efforts will be required for helping unsheltered populations, as well as those who’re hard to reach.

To sum up, the number of homeless people in the U.S. was by 2.000 people more as compared to that of in 2017. Such increase in homelessness was the result of the growing number of unsheltered and chronically homeless individuals. However, it got balanced out thanks to the lowered number of homeless people among families with children and veterans. Now, you know how homelessness impacts economic competitiveness.