Get instant alerts when news breaks on your stocks. Claim your one week free trial for StreetInsider Premium here. NEW YORK, March 15, 2022 (GLOBE NEWSWIRE) — Small Business Loan Approval Percentages at big banks ($10+ in assets) went from 14.5% in January to 14.7% in January, and small banks‘ Approvals also increased, from 20.3% […]
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As banks continue to merge, advocates are trying to ensure low-income communities won’t have to pay for it. By Robin Urevich, Capital & Main This story is produced by the award-winning journalism association Capital and main and co-published here with permission. At a time when big banks are easily getting approval for profitable mergers, some […]
Owning a business can be expensive and unexpected expenses tend to arise. For small business owners who need additional funds, small business loans could be a great option. There are many factors to consider when choosing a small business lender, such as eligibility requirements, loan amount options, and repayment terms. Small business owners can also […]
Connecticut businesses can apply for a physical disaster loan of up to $2 million for damage caused by Hurricane Ida through Jan. 28. The US Small Business Administration extended initial deadlines for businesses, private nonprofit organizations, landlords and tenants earlier this month. Hurricane remnants affected people across the state in the first two days of […]
Although the approval percentages of banks and non-bank lenders (institutional lenders, alternative lenders and others) have risen steadily over the past 12 months, the rebound in small business lending is far from robust. Bank vault. (Photo by Dick Whittington Studio/Corbis via Getty Images) Corbis via Getty Images According to the latest Biz2Credit Small Business Loan […]
Approval percentages at large banks, small banks, institutional lenders, alternative lenders and credit unions are still about half of what they were in December 2019 NEW YORK, January 11, 2022 (GLOBE NEWSWIRE) – Small business loan approval percentages in big banks ($ 10 + in assets) fell from 14.2% in November to 14.3% in December, […]
SMBs Demand Faster Loan Approval: RazorpayX Study New Delhi, January 11 (KNN) According to a study by RazorpayX, one in two small businesses agree that limited resources and lack of knowledge are the two biggest challenges to their digital transformation aspirations. According to their findings, more than 50% of SMEs are asking for easier and […]
For nearly 70 years, the Small Business AdministrationThe disaster relief program has helped businesses recover from disasters such as wildfires, hurricanes and earthquakes. But he’s never been faced with anything like the coronavirus crisis. Besieged by over eight million candidates – and operating in the shadow of the hastily assembled Paycheck Protection Program – The […]
Last week, the Los Angeles City Council’s Economic Development and Employment Committee approved a motion in favor of the Municipal Bank of Los Angeles. It’s a bad idea. Proponents confuse lending with spending. The bank is backed by a variety of special interest groups – but there is no transparency. No information on funding from […]
Over the past few years, consumer credit protections have weakened due to a series of harsh attacks that have either dismissed outright or drastically reduced financial safeguards in the marketplace. But another consumer victory, spurred on by an outpouring of support from ordinary people, academics and bicameral lawmakers, signals an important step toward fair financial […]
The Paycheck Protection Program (PPP) provided many small businesses with much-needed funds during the pandemic, but the program has now ended. And it’s going to force business owners to go back to the funding sources they used before PPP. In this week’s roundup, the Biz2Credit Small Business Lending Index for May found that approval rates […]
The Small Business Association (SBA) announced that starting April 6, small businesses and nonprofits can apply for up to two years of relief with a maximum loan amount of $500,000. the COVID-19[female[feminine The Economic Disaster Loan Program (EIDL) offers businesses 30-year fixed rate loans providing capital for rent, health benefits, utilities and debt repayment. However, […]
Many small businesses across the country have been doing everything they can to stay afloat after being hit hard by COVID-19 restrictions. Owners have applied for small business loans to help keep their doors open, but research released by the Federal Reserve Bank of New York found minority-owned businesses were less likely to receive loans […]
Slight declines in approval percentages at alternative lenders and credit unions NEW YORK, Sept. 08, 2020 (GLOBE NEWSWIRE) — Small business loan approval percentages at large banks (over $10 billion in assets) and small banks fell slightly in August 2020, this which indicates that the upward trend that began in May has stabilized, according to […]
If you haven’t completed a Paycheck Protection Program (PPP) loan application by the previous deadline, you’re in luck. On July 4, President Donald Trump extended the deadline for PPP loan applications by more than a month. The new deadline for PPP loan applications is August 8. PPP loan deadline extended to August 8 The previous […]
Small businesses are struggling to get the non-government money they need from banks to stay open, according to a new index. This at a time when they need it most. Specifically, the approval rate for small business loans fell to 8.9% in April from a record high (28.3%) in February. This is the lowest approval […]
NEW YORK, May 12, 2020 (GLOBE NEWSWIRE) — The approval percentage for small business loan applications to big banks (over $10 billion in assets) fell below double digits to just 8.9%down from 15.4% in March and an all-time high of 28.3% in February 2020, according to the Biz2Credit™ Small Business Loan Index published today. The […]
Since the launch of the Paycheck Protection Program on April 3, 2020, until the original committed funds were exhausted on April 16, 2020, 4,975 lenders have approved loans to more than 1.6 million small businesses for more than $342 billion. On April 17, the SBA released a report on the Paycheck Protection Program with additional […]
All categories of small business lenders take a nosedive as coronavirus wreaks havoc on economy Until the coronavirus pandemic hit the United States, small businesses were thriving and creating jobs, unemployment was at a 50-year low, consumer confidence was high, and in general the U.S. economy was sluggish. as strong as it has ever been […]
Opinions expressed by Contractor the contributors are theirs. Many small business owners complete their Paycheck Protection Program (PPP) loan applications and run into common questions and hurdles. The immediate question currently revolves around two issues: First, how do I work with my bank or find a bank to submit it to? And secondly, how to […]
DALLAS–(BUSINESS WIRE)–Long-time global leader in credit risk management and digital lending, GDS Link, has announced the launch of an online digital loan application for the U.S. Government Payroll Protection Program. The app will allow banks to immediately support their small business customers with a digitized lending experience, removing the need to complete a paper application […]
Officials across the U.S. banking industry rushed overnight to roll out a massive new government-backed lending program to help small businesses ravaged by the coronavirus pandemic and many have not been able to make it happen before Friday’s deadline given that the Treasury Department released its lending guidelines late Thursday night. The $350 billion federal […]