Every Friday we list 7 of the best stories we’ve read throughout the week. Most have something to do with small business and getting funding or business loans. In the past couple months, there’s been a heavy does of news articles about business lending, the SBA, and helping small business.
It’s a trend that’s also a big discussion as political campaigns are heating up. This week’s links follow many of those issues talked about this week surrounding business lending.
Enjoy the stories below and please share something you’ve read this week.
The 44th edition of Small Business Eyeball Worthy Links of the Week:
1. Congressional TARP Report Critical of Community Bank Business Lending — CreditUnionTimes — “Efforts to raise the credit union MBL cap just received a boost in the form of a scathing quarterly TARP report released to Congress.”
2. Franchise lending shortfall robbing the nation of jobs, economic output — The Washington Post — “Lenders continue to fall shy of the overall loan volume sought by franchise business owners, a shortfall that’s holding back the recovery by choking job creation and economic production.”
3. Small banks in bailout pool under pressure — Reuters — “More than 100 smaller banks were able to tap government programs to pay off bailout money they received during the financial crisis. But those still owing face a perilous future.”
4. Small-Business Lending Summit Features Obama Administration’s Top Appointees, Elected Politicians and Industry Leaders — Huffington Post — “How do you get three of the Obama administration’s top appointed officials to speak at a day-long seminar? The answer is to tell them it is about job creation, small business and unlocking the availability of credit for businesses to form and expand — all hot election year topics.”
5. Fixes Abound for SBA Loan Programs — Huffington Post — “In the past couple months, the U.S. Small Business Administration has come under fierce criticism from some members of Congress. These efforts have ranged from drastic budget-cut suggestions to outright abolition of the agency.”
6.Small Talk: Still no boom in lending to small biz — Boston Globe — “Dan Mitchell has borrowed $3 million in the last year and a half to buy real estate and equipment to expand his brewery, Ithaca Beer Co. It wasn’t easy …”
7. Business Loans and Hand-Holding, Beer Optional — BusinessWeek — When Jim Koch launched the Boston Beer Co. (SAM) in 1984, he learned that ventures like his shouldn’t waste time trying to get a bank loan. “What one of the bankers said to me was, ‘We’re not in the business of taking risks. We don’t get paid to take risks. Look at our margins.’”
Now it’s your turn. What did you see this week that is worthy of everyone’s eyeballs?
Well like the rest of everyone, my small business looks for funding to brand and do more hiring. I just cannot figure out for the life of me on the credit issues is when you have been in business for over 10 years. Your score is pretty good, and the lender comes back with your business does not make the cut in the lender Matrix Scoring so no business loans.. makes no sense to me. So What the heck is the Lender Matrix Scoreing and where can you find out if you qualify or if there is areas of maybe more information needs to be done. The reason small businesses are not hiring or expanding, is because the banks are just not giving it up and working with getting the communities back on track. Everything has a risk, but if you dont take a few calculated ones no jobs will be generated, no new inventions will come about and communities will cease to exist. What happen to the Banker that was the leading business team partner. I even looked up this thing they are calling Lender Matrix Score, did not find anything substantial on the subject. So if anyone knows of it and can explain it in laymans terms send me an email.
Hi Belinda, read your post with interest since I’m considering applying for a small business loan. You might check out this link I’m sending: http://www.bankrate.com/brm/news/mtg/20020418a.asp. I found it quite informative and helpful as it relates to your query. Hope it helps. Bye. Tony
It’s great that you are getting thoughts from this article as well as from our discussion made at this time.