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Posted on Thu, 02/9/2012 - 11:17 AM by
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Obama is trying to make changes in lending policies and is urging Congress to make changes in regulations so as to enable entrepreneurs find required finances to grow. Credit access still remains the biggest issue confronting entrepreneurs and small business owners. Lenders in US are reporting rise in loans. Recently, Citibank reported 30 percent jump in small business lending. J.P. Morgan Chase too is saying that small business lending has increased by 52 percent in 2011. Also, Biz2credit lending index reported that lending to small businesses topped 62 percent in December. And that credit unions, micro-lenders and alternative lenders are giving loans and this has resulted in 62 percent approval as of December 2012 compared to 49 percent in January 2011. From reports of most banks and private lenders, loan growth has returned in the fourth quarter. Among the applicants, there are healthy borrowers who want to expand as opposed to borrowers who are approaching banks just to stay in business. Also, bankers are willing to lend now. The US economic recovery is hinged on credit access from financial institutions to businesses. Other significant events and factors like deficit and tax policy too make it easier for businesses to grow. So, Fed should concentrate on these factors too. Currently, lending environment is improving and that is an indication of improvement in business.
MORE NEWS FROM BIZ2CREDITFirst State Bank Of Nebraska Recognized As Community Lender For 2012The First State Bank of Nebraska has been recognized as the Rural/Community Lender of the year 2012. SBA has recognized the bank for its efforts in Nebraska. State Bank Nebraska has served the community in a number of ways. SRDC Is Offering Loans Through RLFSouthwest Regional Development Commission (SRDC) is offering loans through revolving loan fund (RLF). Its purpose is to have a direct financing tool making loan funds available so as to assist in retail, manufacturing, and distribution businesses. Sound Business Plan is key for Business LoanA solid business plan makes it easy for the business to get access to credit. A solid business plan helps to win customers and it also becomes a strong calling card to secure business loans. Loan Approval Rate Declines Due To Fall in SBA GuaranteeBiz2credit finds overall approval rate of small business loans to increase in April compared to a year earlier. Alternative lenders approved 63% of small-business loans compared to 53.6% a year ago. Approval rate of credit unions is 57.4%, small banks 45.9% and big banks 10.6%. The approval rates are more compared to a year earlier. Minority Business LoanMinority business loan as the term describes is a type of financial help provided to the people of minority background for their business and commercial purposes. Such loans also come in different categories like small business loan, large business loan, loans for men and women. However, the provision of customized loan program is also available as per the specific requirement of a customer or a minority business owner. Likewise, government organizations are also assisting minority businesses and playing a vital role for their business growth including the lower income group. These government bodies not only meet the financial requirements but also socially fortify the financial backward divisions. Besides, women minority business owners are also unrestricted to get the benefit of these loans. In fact certain non-profit organizations are also proactively participating in minority business loan programs with the purpose of advancement of these minority groups. RELATED SMALL BUSINESS NEWSWhy There's Not Much Sizzle In Two Burger Chains' IPO PlansCan two also-ran burger chains that struggled through the recession win over Wall Street investors? We'll soon find out, as fast-food franchisor CKE Restaurants -- corporate parent of both Carl's Jr. and Hardee's -- recently filed to go public, seeking roughly $100 million and applying for the stock... No room for weeniesNo use complaining Keep up won’t you? There’s no room for weenies in the global micro enterprise community. My hapless and hopeless UK agent, Tony Robinson OBE, sent me a press clipping of what Serena Williams said after winning the Madrid Open last week. He’s obsessed by how Ser... Day 2: National Small Business Week - Corinne’s Catfish Tells Us Why They Love ItFor today’s post, we spoke with Orin Moore, owner and founder of Corinne’s Catfish in Lewisville, Texas. The On Deck Team found this story particularly inspiring – and we hope our readers to do. Creating Google Alerts Directly in Google AnalyticsA few weeks back I wrote about the powerful new metrics that small business owners can glean from the new Social reports within Google Analytics. And since that post, even more neat features have been released to help business owners learn more about not only what’s happening on their site, but what’s happening off of it, as well. How Ads on Your Site Can Affect SEO (Video)Your search rankings could be suffering if there are a number of advertisements above the content on your website. ... |
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This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to info@biz2credit.com