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Small businesses brace for Earl's impact
Sep 2, 2010
Hurricane Earl is predicted to roll over the eastern seaboard of the United States this weekend, and the storm could spell trouble for local small businesses.
Small business lending sees increase in July, but remains low
Sep 2, 2010
Small business borrowing is up in the U.S. across all channels, potentially including loans, merchant cash advances and credit advances, according to figures from the Thomson Reuters/Paynet Small Business Lending Index.
Citibank survey finds entrepreneurs cautious but resilient
Sep 2, 2010
A recent Citibank survey has found that many entrepreneurs are concerned the difficulties of financing a business will only get harder in the event of a double-dip recession.
Access to credit is top concern for both small businesses and banks
Sep 2, 2010
It's no secret that small businesses are having difficulty obtaining loans from banks. For many, alternative methods of financing - such as merchant cash advances and credit advances - have stepped in to fill the gaps and provide the necessary working capital to stay alive in a difficult marketplace. So why are small businesses having such a hard time securing financing from banks?
President continues to urge passage of small business lending bill
Sep 2, 2010
President Barack Obama has once again come forward to encourage the Senate to pass the stalled small business lending bill, which would create a $30 billion lending fund for people who are financing a business.
Discover survey finds small business confidence is dropping
Sep 2, 2010
Confidence among small business owners dropped 10 points from July to August - the largest one-month decline since last November, according to a Discover Financial Services survey.
Bad credit a problem in obtaining small business loans
Sep 2, 2010
According to the Federal Bureau of Labor Statistics, businesses with fewer than 50 staffers, which employ nearly 30 percent of all private-sector workers, accounted for 62 percent of all job reductions in the fourth quarter of 2009 - and a major reason was lack of access to funding.
Kansas City businesses help entrepreneurs understand tax credits
Sep 2, 2010
Considering the amount of stressful tasks that already weigh on the minds of those financing a business, even a little help can make a massive difference. Now, two Kansas City-based companies are working to help small business owners navigate the changing tax landscape - one less thing for entrepreneurs to worry about.
Biden, Van Hollen urge passage of small business lending bill
Sep 2, 2010
Vice President Joe Biden held a Middle Class Task Force roundtable discussion with small business owners earlier this week in an effort to listen to the concerns of those financing a business across the nation.
Stalled Senate bill means small business lending will continue to lag, despite Obama's efforts
Aug 23, 2010
Things aren't looking good for the $30-billion small business lending bill that recently stalled in the Senate. Republican opposition to several provisions that could potentially raise taxes and increase paperwork has halted the bill's progress, and it looks as though banks could be restricted in their lending ability for some time. Entrepreneurs who are financing a business have increasingly looked elsewhere for funding, turning to merchant cash advances and other options.
Loan approval still difficult, despite lowered fees
Aug 23, 2010
Small businesses that get approved for a loan at City National Bank can now expect to see their loan guarantee fees cut in half, according to BusinessWeek.
Obama's Seattle small business roundtable a success with business owners
Aug 23, 2010
Earlier this week, President Barack Obama met with three small business owners in Seattle, Washington, to listen to their struggles, worries and hopes. Now, the results are in - and it seems the three lucky entrepreneurs are happy with Obama's roundtable.
It's a good time for small businesses to invest in new technology
Aug 23, 2010
Now is the time for small businesses to begin embracing new technology such as video and web conferencing, according to InformationWeek.
Small businesses split on economic recovery
Aug 23, 2010
A recent survey has revealed that although economic optimism is on the rise, small businesses are still worried about their financial situations.
National Federation of Independent Business endorses Fiorina for senate
Aug 23, 2010
A small business trade group has become the second small business organization this month to endorse Carly Fiorina, the Republican candidate from California, in the U.S. Senate race.
Small business credit cards may not be the best financing solution
Aug 23, 2010
Some business credit cards could actually be making it more difficult to finance a business, reports WalletPop.
Obama talks to Seattle small business owners
Aug 23, 2010
President Barack Obama is traveling to Seattle, Washington, to meet with small business owners and discuss their needs, according to the Seattle Post Intelligencer.
Small businesses turn to credit when banks won't lend
Aug 23, 2010
A recent study by the U.S. Small Business Association has revealed the merits of various types of funding that can help out small businesses owners in need.
Female small business owners get a helping hand from the SBA
Aug 23, 2010
In 1994, Congress passed a law mandating that at least 5 percent of money spent on government contracts go to businesses owned by women - a goal it never quite managed to meet. Six years later, Congress tried again with the Equity in Contracting for Women Act, which was never actually implemented due to infighting, disagreements and even a lawsuit. And now - more than 15 years after the original effort - the SBA is finally hopeful that it may be able to achieve that 5 percent goal.
Small Business Administration hosts events to educate minority business owners
Aug 23, 2010
According to the Census Bureau, the number of minority-owned small businesses in the United States increased by 46 percent from 2002 to 2007. Now, in the wake of the economic crisis, the U.S. Small Business Administration is redoubling its commitment to helping minority-owned enterprises continue to drive business recovery.
Going green is good for the environment - and for profit margins
Aug 17, 2010
Entrepreneurs financing a business often consider major expenses - such as how much it will cost to partner with a supplier, which computer software will be the least expensive to install on each computer and how costs can be cut during the manufacturing process. But according to Patch.com, perhaps business owners should be paying a little more attention to the details. Doing so could help save money and energy.
Small business owners headed back to school
Aug 17, 2010
Financing a business is already difficult, but there's one more expense many small business owners are investing in - school.
Dallas' Deal Day puts entrepreneurs in touch with lenders
Aug 17, 2010
More than 100 small business owners enjoyed one-on-one access to lenders at Dallas' "Deal Day," reports the Dallas Morning News.
Microloans help some small business owners get back on their feet
Aug 17, 2010
Many entrepreneurs struggling to finance a business turn first to traditional bank loans. However, with bank purse strings tightening across the nations, many small businesses are having to turn elsewhere for funding - and some are looking toward microloans.
Small businesses spend more with credit union cards
Aug 17, 2010
Small business owners who hold cards issued by credit unions use their credit more often than those who use banks, reports the Credit Union Times.
SBA loan programs vulnerable to fraud
Aug 17, 2010
The Small Business Administration's loan programs may be vulnerable to fraud, according to a new report by the Government Accounting Office.
Small business lending down in July across Wisconsin
Aug 11, 2010
Lending in Wisconsin by the Small Business Administration plummeted in July, despite attempts to help make credit more accessible to small businesses with below-average credit.
Small business hiring climbing slowly
Aug 11, 2010
Small businesses inched closer to increasing their hiring in July, reports Reuters.
Small businesses still having trouble getting bank loans
Aug 11, 2010
Entrepreneurs financing a business are still having trouble obtaining loans from banks, according to BusinessWeek.
Sales tax holiday helps Virginian small businesses
Aug 11, 2010
A sales tax holiday in Virginia will help small businesses in the state, reports the Union Star.
Google launches small business blog
Aug 11, 2010
Online search giant Google has launched a blog specifically for small enterprise owners and entrepreneurs financing a business.
Massachusetts entrepreneurs urge senator to back small business bill
Aug 11, 2010
Small businesses in Massachusetts are asking the state's Republican Senator, Scott Brown, to back a bill that would help small enterprises get access to credit, reports the Boston Globe.
Clean technology can benefit small businesses
Aug 11, 2010
The government's decision to focus on a small business lending bill rather than a carbon bill could ultimately be detrimental to small businesses, according to BusinessWeek columnist, attorney and environmental policy advisor Chris Lynch.
Dell announces security features for small businesses
Aug 5, 2010
Dell Computers has released a new line of security-focused products in an attempt to woo small business owners.
Small businesses speak out against increased paperwork
Aug 5, 2010
The Small Business and Entrepreneurship Council is calling on its members to urge their representations to repeal a new law that would make small business owners fill out more paperwork.
KFC joins SBA Franchise Registry for easier access to loans
Aug 5, 2010
Fast-food outlet KFC is now listed on the Small Business Administration's official Franchise Registry.
Iowa Small Business Loan program launched
Aug 5, 2010
Entrepreneurs financing a business in Iowa will now have the opportunity to apply to a new state-sponsored small business loan program.
Latino business owners in Florida speak out for their needs
Aug 5, 2010
With election season in full swing, Latino-American small business owners in Orlando, Florida, are pushing to make their demands a political priority, reports the Ledger.
Small business lessons from the Miami Heat
Aug 5, 2010
Entrepreneurs financing a business could learn a few things from the Miami Heat basketball team, reports the Miami Herald.
SBA announces low-interest loans for maple businesses in Massachusetts and Connecticut
Aug 3, 2010
The Small Business Association has announced low-interest disaster loans for certain agricultural businesses, reports MassLive.com.
Gubernatorial candidate John Kasich promises to appoint small business advisor if elected
Jul 20, 2010
Ohio gubernatorial hopeful John Kasich has announced his plan to appoint a small business advisor to his cabinet if he's elected, reports the Associated Press.
Environmentally friendly practices help small businesses save green by going green
Jul 20, 2010
Financing a business can be difficult, and often small business owners try to cut back on costs wherever and however they can. In today's tough business economy, reducing costs is a major concern for small business owners, many of whom have difficulty getting access to a loan or a credit card. As it turns out, there's a simple way to cut back on long-term costs and increase revenues that can help more than just the business owner - it might also help the Earth.
MetLife study finds link between job and benefit satisfaction
Jul 19, 2010
A study by MetLife has found that small business owners can improve workplace satisfaction and keep retention rates high without drastically increasing costs by providing employee benefits.
Small businesses persevere despite hardships of financing
Jul 19, 2010
Financing a business in a difficult economy can be a struggle, but that hasn't stopped small business owners from opening shop, reports the Los Angeles Times.
Percentage of minority-owned businesses on the rise
Jul 14, 2010
Recent census results show that one out of five small businesses in America is owned by a member of a minority.
Federal Reserve governor committed to reviving small business credit
Jul 14, 2010
Reviving credit to small businesses and providing small business loans will be crucial to the economic recovery, according to Federal Reserve Governor Elizabeth Duke. The problem is that the complexity of the small business lending crisis doesn't have an easy solution.
Selecting the smartest smartphone
Jul 12, 2010
When financing a business, small details like what type of cell phone to purchase can seem inconsequential and silly. But in reality, cell phones often last for two years before it's time to upgrade, and they're an item that gets used every day - often dozens of times per day. Picking out the right phone for the right price can save business owners time, money and a lot of hassle.
New SBA regional chief intends to focus on capital for small businesses
Jul 8, 2010
Elizabeth Echols, the new head of the Small Business Administration for California, Nevada, Arizona, Hawaii and Guam, is making an effort to bring increased small business lending to the West.
Veterans in Minnesota may be eligible for interest-free small business loans
Jul 8, 2010
Veterans in the state of Minnesota who are financing a business may be eligible for an interest-free small business loan up to $20,000, reports the Minnesota Post.
Financing a business will be easier with the Small Business Lending Fund Act
Jun 30, 2010
The Senate has voted to begin consideration of a new bill called the Small Business Lending Fund Act of 2010.
New Jersey budget includes funding for small businesses
Jun 30, 2010
New Jersey Governor Chris Christie's first state budget includes $250,000 for small business development, reports the Star-Ledger.
Banks offer discounts to help small businesses
Jun 30, 2010
J.P. Morgan Chase has started a program that encourages small businesses to hire new employees, Inc. magazine reports.
Small business loan fund would provide $30 billion in lending
Jun 30, 2010
Senator Kay Hagan is working hard to get a $30-billion loan fund for small businesses through the Senate, reports the Business Journal.
Don't give up on a small business - start fresh
Jun 30, 2010
As the regression drags on, financing a business is becoming increasingly tough. Some small business owners are no doubt wondering if it might be time to give up - but ABCNews columnist Susan Wilson Solovic suggests that maybe all these businesses need is a reinvention.
Even risky businesses can have access to trade creditors
Jun 29, 2010
Only about 20 percent of short-term credit for small businesses comes from banks, according to BusinessWeek - and with banks tightening their purse-strings in the wake of the economic crisis, that figure could be shrinking, making financing a business even more difficult.
Financing a business remains tough, but business owners are optimistic
Jun 29, 2010
The desire to own, run and finance a business is still alive and well in America - but 40 percent of small business owners have considered making changes to they way they run their operations, according to BusinessWire.
Commercial rent tax could have negative impact on small business financing in San Francisco
Jun 28, 2010
A new commercial rent tax in San Francisco could severely impact small businesses owners in the Bay Area, reports the San Francisco Chronicle.
Changes in tax exemption law could make financing a business in Texas more difficult
Jun 28, 2010
A law in Texas that provides tax exemption for small businesses could soon be changing, according to the Associated Press.
Declaring bankruptcy can help refinance a business
Jun 28, 2010
"Bankruptcy" is a word that can make business owners shudder - but if you're struggling to finance a small business, declaring Chapter 11 can be a good way to reorganize and restart the process.
Louisiana requests business financing policy changes after oil spill and hurricanes
Jun 28, 2010
Louisiana businesses affected by the British Petroleum oil spill in the Gulf of Mexico are asking for financial help from the Small Business Administration, reports the Government Monitor.
Some small businesses allow employees time off to cheer for USA
Jun 25, 2010
Some small business owners are giving their workers time off to watch World Cup matches, reports the Associated Press.
SBA offers disaster loans to businesses affected by Alabama storms
Jun 25, 2010
For at least a handful of the hundreds of people financing small businesses that have been affected by the wind, rain, floods and tornadoes that swept through the southern United States in April, some relief may be on the way: the U.S. Small Business Administration plans to dole out $2 million in disaster loans to Alabama businesses.
Bad credit doesn't have to bar entrepreneurs from small business loans
Jun 25, 2010
Poor credit can make it difficult to pursue the dream of starting, owning and running your own company - but it doesn't have to stop it.
Personal credit is a major factor in financing a business
Jun 24, 2010
Before the financial crisis, it wasn't difficult to score a major business loan. But these days, banks are notoriously stingier when considering candidates for expensive and risky business loans. So what can companies do to improve their chances?
Majority of small business owners support clean energy, despite costs
Jun 24, 2010
A nationwide survey by Greenberg Quinlan Rosner Research and American Viewpoint reveals that a majority of small business owners support clean energy legislation, believing it will help the American economy recover and help small businesses grow.
$30-billion bill may help small businesses get loans from banks
Jun 23, 2010
The House of Representatives has approved a $30-billion bill proposed by President Barack Obama to boost bank lending to small businesses, but it remains unclear just how much money small business owners will see.
Improving credit conditions could help small businesses
Jun 23, 2010
Treasury Secretary Timothy Geithner said last week that he no longer considers credit conditions to be a roadblock in the way of American economic recovery, reports MarketWatch.
'Tea Party' views on finance appeal to many small business owners
Jun 19, 2010
Frustrated, harried and struggling to make ends meet, many small business owners are joining forces with the Tea Party movement to demand change, reports the Christian Science Monitor.
Restaurant closes after falling behind on loan
Jun 17, 2010
A restaurant in Wilkes-Barre, Pennsylvania, is closing its doors after falling behind on a loan it received from the city.
Commercial landlords welcome new franchises
Jun 15, 2010
Commercial landlords are increasingly turning to franchises as a way to fill empty storefronts, making this year a potentially good time for a business to relocate.
Fast-casual restaurants have best growth potential
Jun 14, 2010
CIT recently reported on the state of the restaurant industry on its CIT Executive Spotlight blog, focusing on lending and growth trends.
Proposed NJ legislation affects liquor stores, restaurants
Jun 11, 2010
Liquor stores and restaurant owners operating in New Jersey may want to pay close attention to the recent push for change in the existing liquor licensing laws in the state.
Study: Small business credit card reform remains elusive
Jun 10, 2010
A new study released this week by the Federal Reserve suggested that credit card reform for small business owners may be far from reality. Small companies that use small business credit cards to buy new supplies and provide finances will probably not find high interest rates improving this year. This could negatively affect the 64 percent of small businesses that use them - especially the 12 percent that borrow money on the cards.
Dining out regaining popularity
Jun 9, 2010
Though a hefty portion of the population is still cooking spaghetti at home in an attempt to pinch pennies, more and more Americans are treating themselves to meals at restaurants this year.
Fed Reserve: Lending to small businesses declining
Jun 8, 2010
Despite the federal government's insistence that banks increase their credit lines to small businesses, Federal Reserve Chairman Ben Bernanke stated recently that the number of loans to small businesses and franchises is decreasing.
SBA to aid businesses in West Virginia affected by storms
Jan 7, 2010
The Small Business Administration is preparing to help small businesses in West Virginia that have been affected by the recent storms and flooding.
SBA sees increase in small business loans
Jan 7, 2010
Lending to small businesses has picked up across the country as more banks participate in federally funded programs, reports the Los Angeles Times.