SBA Lending Jumps in May
Good news from the SBA this week - could it be? Encouraging information featured in a Crain’s Detroit Business article indicates that small business lending, specifically SBA 7(a) loans increased in May. Could this mean preliminary signs of credit markets thawing? Perhaps the American Recovery and Reinvestment Act is actually creating a degree of recovery and reinvestment. Only time will tell, but things seem to be looking up for small business lending this month. Read the Crain’s article
Small Business Loans Criticized
Monday President Obama released a plan to increase the federal guarantee of small business loans to 90% and decrease fees associated with the loans. However, the action is being met with significant criticism. Read the Wall Street Journal article: Small Business Loans Criticized
Access to Capital Webinar
Entrepreneurs throughout the country are encountering challenges in gaining access to capital. With credit markets dried up and few banks lending to small businesses, it’s become increasingly difficult for small enterprises to get the working capital they need to grow their business. If you are interested in learning more about the financial spectrum and where to turn when your credit line shrinks, register for the upcoming “Access to Capital” webinar.
Thursday, March 18
9 a.m. EDT
E-mail name and company to: Nicole@macombcountychamber.com.
12 Tactics Entrepreneurs Should Consider
This outstanding Bnet article offers insight on 12 tactical moves (defense and offense) that small business owners can put into play now to weather the economic storm, particularly in the area of cash management. In a challenging economy, it’s important that business leaders focus on cash flow and are proactive in recognizing long-term working capital needs. It is beneficial for entrepreneurs to identify an alternative lender early in the process, before there is an immediate need. Also, CEOs and CFOs need to do their homework – does your working capital provider understand your business and industry, is there transparency regarding fees and processes and can they understand how the additional cash will be used and repaid?
Where Does My Business Fit?
In today’s often challenging job market, there seems to be an increase in those who are interested in starting a new business or growing their current small business into new markets and industries. All entrepreneurial ventures, regardless of business model or industry, seem to lead to the same place, because almost all require the same thing… financing.
Today, we’re going to try to demystify the financing quandary and provide some insight on how small business financing works.
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Welcome to the Conversation!
This is the first post of capital conversations, a podcast and blog about making sure small busineses find the financing they need to succeed.
