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 […]
The Current State of True “Small Business” Lending Read More
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
Small Business Owners: Know the Repayment Terms of your Loan Read More
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
Why Small Businesses are Turning to Alternative Funding Sources Read More
Most often, the small business owners that come to IOU Financial for a loan have already been painfully exposed to the fact that banks are much less likely to lend to them. These owners come seeking alternative lending options out of necessity, but also end up finding out that the process of working with IOU Financial
Behind the Scenes: Technology Makes it Possible Read More
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
Bridging the Gap Between Banks and Online Lenders Read More
I read this article recently about the Credit Union Small Business Jobs Creation Act, H.R. 688, which would raise the cap on loans credit unions can make to their small business members from the current 12.25 % of assets to 27.5 % of assets. Sounds like good news for small business owners, right? While the article applauds
Proposed Credit Union Small Business Jobs Creation Act – Will it Help? Read More
A recent USA Today article featuring IOU Financial examined unconventional lending sources for small business. Even for healthy businesses, those with positive cash flow and strong financial history, getting loan approval from a traditional bank is difficult. Whether the size of the loan is too small or the cost to process and fund it is too expensive, there is
Small Business Owners Find Alternative Solutions For Capital Read More
Recently our President, Robert Gloer, made the initiative to reach out to our small business customer base to thank them and make sure that their experience with IOU Financial’s service and products are exceeding their standards. The feedback has allowed us to look at the process and product through our customer’s eyes, which is a vital component of
What Are Our Customers Thinking? Read More
The Hinman Dental Meeting is the South’s premier dental convention, open to all dental professionals. Come celebrate a century of excellence at the 100th Hinman Dental Show March 22-24. IOU Financial is proud to have been selected as an exhibitor to this great show. Come visit IOU at booth # 1758. Here are few reasons our Dentist
IOU Financial to Exhibit at 100th Thomas Hinman Dental Show Read More
No matter where you get your loan, there are certain variables that determine whether the loan is good or bad for your business. The good news is that if you consider these variables, you will be educated and make the right loan decision that fits your business needs. When you are ready to apply for a
3 Things You MUST Know Before Seeking Business Capital Read More