At banks with more than $10 billion in assets, 10.2% of loan applications from small businesses were approved in May, down from 10.6% in April—and from 11.7% in January and February, according to surveys of small business customers of Biz2Credit, a Manhattan-based company that matches small businesses with lenders.
Launched in the spring of 2010 with $4 million in funding from private investors, BoeFly has supported just under $2 billion in transactions and is generating close to $150,000 in monthly sales, according to Mr.
With the words “double dip recession” on everyone’s lips, it’s no wonder that lenders are becoming even more parsimonious with small business loans.
Wal-Mart is still in the early stages of banking, hoping to ultimately create a branded bank, much to the vehement opposition of the U.S.
Gene Pranger’s shop in Sandy is where the machines are assembled.
Of the businesses who received credit, 75 percent said they were getting only “some” of the credit they requested.
Before the credit crunch, it was easy for companies to borrow just about any amount of money anytime they wanted.
In the meanwhile, here’s a look at the rest of the Job Act provisions…some of which offer at least a glimmer of hope of getting more funding into small business owners’ hands.
Among the 11 percent of consumers who claim they have an increased ability to put funds into savings, 46 percent have decreased the use of their credit cards, and 51 percent have decreased their spending on discretionary goods, such as entertainment, travel, luxury items and cars.
“The small business credit issue is multi-faceted,”.