Lending Advice

Last month, a subcommittee on Economic Growth, Tax, and Capital Access held a hearing titled, ”Where Are We Now? Examining the Post-Recession Small Business Lending Environment.” As I listened to witnesses explain to our policymakers the current state of small business lending in our country, I realized just how deep the REAL problems are. For […]

For small business owners, understanding repayment terms before applying for a loan is critical. For instance, most lenders offer pre-computed interest rates, which means they calculate the interest payment for the entire length of the loan and add it to the principle when the loan is issued. And yes, this does provide a clear picture

According to the Small Business Administration, more than half of Americans own or work for a small business. In fact, small businesses create about two out of every three new jobs in the United States each year, making them an integral part of our economy. Despite this importance, many small businesses continue to have a hard

I recently participated on a panel with several bankers during the PayNet event in Chicago, so this article in American Banker about banks needing a strategy around small business lending was especially interesting to me. Its author, Andy Peters, brings up a good point that has also been discussed around our office for years: Where is the bridge in the gap

If you’ve been in business at least a year, it’s time to take out a small loan to pay for some services or perhaps some new equipment… whether you need it or not. Remember, building your business’s credit history is crucial. It doesn’t matter whether you spend the money or just open a savings account and

The old steadfast rules of personal credit health apply in large part to business credit health as well, in a variety of ways, which is why it is so important to get your personal credit in check, and then adopt the same philosophies in regards to your business credit as with your personal credit. It is

Why aren’t they getting them?  We’ve all seen the news and reports on how the “credit crunch,” as we so delicately call it, is preventing business owners with good credit from obtaining  financing. But why is it so hard? Without even addressing the disappearing role of community banks in the vitality of small businesses, the simple