When it comes to entrepreneurs launching small businesses, they can use all the help they can get. SoMoLend is a website that can help. SoMo’s software is designed to use the Web to match borrowers with lenders, connecting business borrowers seeking loans of $35,000 or less with investors looking to make a return on investment. […]
SoMoLend: Connecting Entrepreneurs With Lenders Read More »
NY Times: We get several calls a week from owners who tell us that they have been turned down for an S.B.A. loan and that the program is not for them. Their perception is that if they are granted an S.B.A. loan, it is the S.B.A. that will be lending them the money — and
The SBA Doesn’t Lend Money Read More »
Huffington Post: The Thomson Reuters/PayNet Small Business Lending Index, which measures the overall volume of financing to small businesses, surged 10.2 points to 106.4, the highest level since February 2008. The index was up 18 percent from November 2010. “We are entering a new phase of the business cycle,” said PayNet founder Bill Phelan. “Businesses
Small Biz Lending Near 4 Year High Read More »
The Washington Post: The Program for Investment in Micro-Entrepreneurs, or PRIME, distributed nearly $8 million in grants Sept. 8 to 100 nonprofits around the country, including four with operations or headquarters in the Washington region. Advocates say the program helps small-business owners in underserved communities get capital that they may not qualify for otherwise. “To
SBA Program For Low Income Entrepreneurs Faces Cuts Read More »
Yesterday the Federal Deposit Insurance Corporation held a forum on small business lending. In response to the forum and a need to make credit available to small businesses, the FDIC has released a new hotline for businesses to call for help. “A combination of factors have created issues and challenges for small businesses, but it
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photo credit: Omar Omar In today’s economy businesses, especially small businesses, need lending and it’s no surprise that banks are still leery of lending out huge sums of money to businesses on the off chance that they go under. I recently came across a great article located on Open Forum that offers some great alternatives to
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photo credit: Lori Greig Every small business owner who has been struggling to stay a float in the constant economic downturn may have some light at the end of the down spiral tunnel. The SBA has set up a new 100% guarantee ARC loan program meant for small businesses who are financially struggling. This month
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The New York Times: When banks say no, owners of cash-starved small-businesses aren’t giving up on finding loans. Many are turning to microlenders for the money they need to meet the payroll, buy supplies, pay the rent and keep the lights and heat on. These microlenders – community-based nonprofit lenders that draw on a varying
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