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We had been hearing that banks were not lending because they are under very tight government scrutiny. That seems to be the case based on a great article from USA Today called “Small banks say they can’t win in small-business lending”. According to the article, while Washington continues to urge banks to lend, Bank examiners […]
This news came out mid-December, but some of you may have missed it due to the holidays. This article from CNNMoney.com points out that “the 22 banks that got the most help from the Treasury’s bailout programs have decreased their small business lending by a collective $11.6 billion since April, when the Treasury began requiring […]
The national press is finally paying attention to the notion that it is going to be small businesses that lead us out of the recession. This CNN article points the problem out vividly in that small businesses can not survive without the ability to borrow from banks. First their credit lines were taken away, then […]
We found this site through an article about Kickstarter in the New York Times written by Jenna Wortham. Kickstarter is a funding platform for artists, designers, filmmakers, musicians, journalists, inventors and explorers to make their case to attract patron investment into their projects. This is a different model than traditional fundraising orpeer to peer networks. […]
As the SBA continues to prod banks to do more lending in the small business community-at-large, thy are giving awards to banks who have been participating right along. Here are the winners as reported by Kelly Faircloth for Inc. Magazine. The Small Business Administration recognized financial institutions devoted to helping small firms through their lending […]
Major small business card lender Advanta to close all accounts In follow up to our prior blog on small business credit cards is this Associated Press article by Madlen Read. Advanta is a primary issuer of credit cards to small businesses, or was. Their web site states that their “focus is on small businesses, and […]
As we have observed here at the Small Business Development Center, far too many small businesses have gotten themselves in trouble with credit cards. Many clients had come in with that issue even before the economy dropped off. With lines of credit unavailable due to banks tightening their policies, credit cards were a tempting alternative. […]
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