It’s proving to be one of the most helpful sources of finance for a lot of people, but at the same time the car title loans industry is clouded at best. It’s an industry which tends to attract headlines and misconceptions – many of which paint it in a completely inaccurate light.
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CNN: Artwork by Andy Warhol, military medals, helicopters, and a Babe Ruth baseball bat aren’t the typical pawnshop fare. But all of these valuables have been used to secure loans through a personal asset company called Borro. At a time when small business bank loans can be hard to get, more entrepreneurs are looking for
Niche Biz: The High End Pawnshop Read More »
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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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 »
Forbes: As a boarding student in a Ghanaian high school, Yaw Duffour-Awuah discovered that several of his classmates who lived several hundred miles away were regularly unable to travel home for brief holidays due to lack of funds. The young man, spotting opportunity, quickly launched his company, Apex Loans. He was only 16 at the
Prize Winning African Entrepreneurs To Watch: Yaw Duffour-Awuah Read More »
There has been a lot of talk about how difficult it is to obtain a small business loan from big banks. However, The Street argues that it’s really the small business owners who are failing to try. What do you think? Earlier this month, Bank of America released its inaugural Small Business Owner Report, a
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The Huffington Post: When it comes to getting a loan for your small business, it may not come down to who you know, but where you go. Banking Grades, a new grading tool from Philadelphia-based MultiFunding, found that some of the nation’s biggest banks have the worst performances when it comes to small-business lending. Meanwhile,
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San Francisco Examiner: In the next eight months, The City plans to issue about $1 million in loans to people wishing to expand or start a small business. Mayor Ed Lee’s proposed $1 million for a small business revolving loan fund was approved Wednesday by the Board of Supervisors Budget and Finance Committee. Jennifer Matz,
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Reuters: The Thomson Reuters/PayNet Small Business Lending Index, which measures the overall volume of financing to U.S. small businesses, rose 20 percent in October after increasing a revised 12 percent in September, PayNet said on Thursday. Still, at 98.1, the index shows borrowing has not yet recovered to its level of 100 reached in 2005,
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