Crain’s New York Business: 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. Although regional […]
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While you might visit Match.com to find a date, visitors who frequent Boefly.com will have something very different in mind. These people are entrepreneurs in need of funding. 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
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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. Small business loan approval rates by large, national banks fell from 9.4% in May to 8.9% in June, and industry analysts predict that lending will only tighten. Though large banks shy away
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InvestorGuide: 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. banking industry. The company has been twice denied takeovers of banks, but it has expanded its financial services drastically and silently through partnerships with Discover, GE Consumer Finance, MoneyGram International
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Could you imagine if that ATM you were hoping to draw cash from actually connected you to a live teller via a TV and Internet connection? One man’s invention hopes to keep banks open 24/7 using a simple, webcam-like contraction that allows you to communicate with a teller that could be just about anywhere reports
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Half of small businesses that want credit are being denied it, according to a new survey. Inc.com reports that the Federal Reserve Bank of New York surveyed 426 small businesses in June and July for the report, which defined a small firm as privately owned, with 500 or fewer employees, and less than $25 million
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Before the credit crunch, it was easy for companies to borrow just about any amount of money anytime they wanted. Entrepreneurs often would apply for larger credit lines to expand their businesses, and they got drunk on easy credit. Who needed good money-management habits when your banker would pony up on command? You know how
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Now that the Small Business Jobs and Credit Act of 2010 is finally law, it’s time to take a look under the hood and see what-all is in there. Carol Tice in a story for Entrepreneur magazine says some have noted that calling it a jobs bill is kind of a stretch. There’s nothing that
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Consumers in the U.S. are keeping their credit cards in their wallets in favor of using debit cards to avoid building up more debt, according to a new report by Javelin Strategy & Research. Among the 11 percent of consumers who claim they have an increased ability to put funds into savings, 46 percent have
Cardholders Swiping Debit Cards More Read More »
In a recent article located on Bizbox it was stated that there is money becoming available for small businesses out there more and more each day. This is due to a number of reasons: Small businesses are realizing that we are coming out of a huge recession and therefore there are not as many companies searching
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