Finding a suitable bank to finance your business is very important and Inc.com offers some great tips on choosing a bank for your small business in their article “How to Choose the Right Bank for Your Small Business.”  Below are some standout points extracted from the article to help you choose a bank for your business. *(Tip: If you find that your credit score and/or personal financial history are making it impossible for you to [...]

News of tightened bank lending standards is abundant.  The truth is, getting a bank business loan is hard and the fact that so many small business owners need them doesn’t make it any easier.  If you don’t believe us, take it from the slew of journalists who write on the topic every day.  Take a look at the following quotes from various media outlets regarding bank lending, just in the past few months.  You might [...]

As the economy fell into a recession, bank lending to small businesses dropped dramatically, forcing many small businesses to close their doors, especially due to their inability to get bank loans.  Now, as the economy begins to recover, small business owners are beginning to have positive outlooks for their businesses, but according to some experts, the bank lending drought may not be improving anytime soon. “The U.S. Treasury Department is concerned the steady pace of [...]

Even after bank bailouts, small businesses are still having difficulties getting loans from banks.  Perhaps it is time for small business owners to step away from the past and focus on newer, more innovative and promising methods of business funding. The Forbes commentary section recently featured an article about technology’s biggest moments.  Though the article focuses on technology, the ideas can very well be paralleled to the status of business funding in the United States. [...]

The Small Business Administration is set to put a new plan in action, in attempt to boost bank lending to small businesses. Through this plan, the SBA will guarantee up to $3 billion in pools of banks’ 504 loans sold into the secondary market, according to Business Week.  This is in an effort to relieve banks’ fears of borrower defaults. The 504 loan program is designed for small business owners who want to acquire real [...]