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Loans

Small Business Borrowing Activity Suggests Economic Gain Syndicate content

The results of the Small Business Loan Index, a joint project conducted by Thomson Reuters and PayNet, were released this morning. The index measures the net volume of loans to small businesses, which are regarded as a valuable indicator of overall economic health, since they respond far more quickly to economic shifts - good or bad - than do larger businesses.

Morgan Stanley Commits To $500M Credit Initiative Syndicate content

Small businesses in need of loans may get some aid from financial giant Morgan Stanley before long.  Today, the organization committed to helping small businesses access as much as $500 million in credit, which should act as a pretty significant support mechanism.Fair warning: this isn't quite the same as Morgan Stanley reaching deep into its own pockets.  It sounds like a lot of the money will come straight from the government, with Morgan Stanley playing the role of matchmaker and/or mediator.

PayNet Says Small Biz Borrowing Up In December Syndicate content

Small business owners who are interested in receiving loans shouldn't lump the idea in with long shots like winning the lottery.  Small businesses continued to find it easier to get loans in December, according to new data from Reuters and PayNet.
News Tags: PayNet, Loans

Chase: $10 Billion In Credit Extended To Small Biz This Year Syndicate content

A little more than a month after it declared itself America's largest Small Business Administration lender in terms of loan volume, Chase has shared an interesting figure. The bank apparently provided more than $10 billion in credit to U.S. small businesses this year.One problem we'll note is Chase's definition of a "small business" - the bank lumped together companies with annual sales of under $20 million, so we're not just talking about people working out of a spare room or a small office with two or three other individuals.
News Tags: Loans, Chase

SBA Introduces New Loan Programs For Underserved Communities Syndicate content

The U.S. Small Business Administration has introduced two new initiatives aimed at increasing lending in underserved communities.
News Tags: Money, SBA, Loans

Small Business Owners Don't Feel Government Support Syndicate content

The majority (82%) of small business owners feel that their interests are typically overlooked by the government, according to a new survey by Regus. More than half (56%) in the U.S. believe banks should be forced to lend more to entrepreneurial ventures and small businesses. Seventy-five percent of U.S. entrepreneurs also stated that government venture capital funds should be available to support entrepreneurs and their business initiatives, indicating that maintaining cash flow continues to be of concern for businesses.
News Tags: Money, government, Loans

Chase Declares Self America's Largest SBA Lender Syndicate content

American small business owners who are interested in getting bank loans may want to consider making Chase the first stop on their financial quest.  Chase announced today that it's become the nation's largest Small Business Administration lender in terms of loan volume.Chase said in a statement with regards to its fiscal 2010, "Chase's 3,386 loans represent a 170% increase in SBA loans from a year earlier."  That number of loans means Chase helped 250 more businesses than the next-most-prolific lender, as well.
News Tags: Chase, Loans

SBA Increases The Amounts Of Loans For Small Businesses Syndicate content

The Small Business Administration has completed the implementation of increasing maximum sizes in a number of its loan programs.The changes are Treasury Department are permanent for general small business loans under SBA’s 7(a) guaranteed loan program, fixed asset loans through the 504 Certified Development Company program, Microloans, and International Trade, Export Working Capital and Export Express loans. A temporary increase for SBA Express loans is good for one year.
News Tags: Money, SBA, Loans

UK Banks May Launch Large Small Biz Fund Syndicate content

A very large investment fund, created by a number of important banks for the sole purpose of providing loans to small businesses, may be on the way.  Rumor has it UK banks could even launch the fund next week.Please note that nothing's been confirmed, so now's not the time to call up local bank branches and try to take advantage of the fund.  What follows is just what might be going on (though we should say that this story's been repeated by more than a few major news outlets).
News Tags: Loans, UK

BoA Reaches Out To Small Businesses With New SBA Loans Syndicate content

In an effort to create more jobs, Bank of America has teamed with CDC Small Business Finance to create a pool of U.S. Small Business Administration 504 first-mortgage loans for sale under SBA's new secondary market program. Bank of America's purchase of these loans allows loan originators to make more credit available to small businesses.
News Tags: Money, Loans, SBA
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