Sentences with phrase «make loans to small businesses»

Several weeks ago — with an extensive press rollout, a full - page New York Times ad, and a $ 300,000 one - minute commercial during Game 7 of the World Series — he announced «Create Jobs for USA,» a grass - roots private fund that will make loans to small businesses in underserved markets across the country.

Earlier in the year, the fund put $ 250 million in Kabbage, which makes loans to small businesses.

Not exact matches

So, we asked those banks, which make it their business to lend to small business, how entrepreneurs can increase their chances of securing loan dollars.

Why you should care: Founded by GroupMe millionaire Jared Hecht, Fundera is a website that helps make it simple for small businesses to get loans from nonbank lenders.

She first went to work for IBM Corp.'s (NYSE: IBM) global microfinance initiative, where she helped create solutions to enable loans to be made to small businesses in developing countries.

That program, also operated by Treasury, works much the same way TARP does, but it provides capital at interest tied to the volume of small business loans the bank makes.

Though many community banks in this program have, controversially, used this money to pay off TARP rather than lend to small business, Hall says the money will help Team Capital make $ 200 million in loans to local small businesses, and it has enabled it to loan out $ 40 million in the past year.

And community banks, of which there are more than 6,000 in the United States, depend on new loans to small businesses to make money.

A tightening of bank lending standards and a drying up of the home - equity - loan market in the post-financial crisis era have made small business credit less available than it used to be.

The (SBA) has set guidelines for small business loans offered by private lenders which may make them more accessible to you than other loans.

Though the industry has grown explosively in the past few years, making an estimated 1 million loans worth about $ 12 billion to consumers and small business owners, so too have questions and complaints.

He said the regulatory world around online lending is indeed unclear, especially when it comes to making small business loans.

It supported 164,000 jobs and made 3,340 loans and other forms of financing to small businesses, generating a surplus of $ 675 million for the Department of Treasury in fiscal year 2014.

Factors that discourage small businesses from changing banks include a perception that a long - term relationship would make it easier to negotiate loans.

Commercial lending to businesses by banks is rising at a rate that far outpaces the loans they're making for mortgages and home equity lines of credit, but you wouldn't necessarily know that from speaking to some of the smallest businesses in the U.S.

«The good news is banks want to make small - business loans.

In fiscal year 2005 the SBA made or guaranteed $ 19 billion worth of loans to small businesses, the most in its history.

In 1988, Congress authorized the Small Business Administration Office of Women's Business Ownership, which created a «Low - Doc» loan program which makes it easier for women entrepreneurs to obtain SBA financing.

Many initially praised the small - business fund that would make $ 30 billion available to small banks to loan out businesses, but funds haven't yet been disbursed.

As the economy has muddled along the past few years, banks have been criticized for making it hard for small businesses to get loans.

Low interest rates translate into lower profits when banks make loans, and all too often this curtailed their incentive to grant funding requests made by small business owners.

In fact, big banks typically want to make «small business» loans in much greater amounts.

But many of those changes will probably make it tougher, not easier, for small businesses to qualify for loans.

«A number of conditions should be reviewed based on the strategic plan of the company to make sure the loan is good for them,» says Donna Holmes, director of the Penn State Small Business Development Center.

Unfortunately, not many of the top 100 banks does a good job making smaller loans, available to business owners, in the $ 40,000 to $ 50,000 range, based on my analysis of the numbers.

MANY small businesses will be forced to pay tax on loans they have made to their own businesses under the new tax system.

There have been many small business lenders that have popped up over the last several years that have made it easier to get a small business loan for those with bad credit.

In most cases, they'll get an answer on their loan application with the same day (sometimes with the hour) without the need to collateralize a particular piece of real estate, inventory, or other had asset, making it possible for many healthy businesses that don't have collateral to qualify for a small business loan.

Even if you've already decided a small business loan is right for you, it's important to make sure you're working with the right lender and choosing the best product to fit your long - term needs.

This type of automatic payment is also good for borrowers because, among other things, it has the potential to help a small business eliminate cash flow lumpiness by making more frequent and smaller debits on a daily or weekly basis as opposed to requiring a large loan payment on a monthly basis — although that is not the only benefit to small business owners.

(New York, NY) March 24, 2010 — On Deck Capital (www.ondeck.com), a leading provider of small business financing solutions, announced today announced today that over $ 50 million of loans have now been made to more than 2,000 Main Street small businesses using its proprietary performance lending system which evaluates businesses based on electronic performance data rather than relying solely on the business owner's personal credit score.

Making payments electronically is an innovation designed to make small business loan payments seamless and easy for both the borrower and the lender.

As traditional lenders shied away from the smallest small businesses, loans to those businesses have been in decline and slow to recover [3], online lenders are making more capital available to small businesses by adding a financing option that didn't exist previously.

Nevertheless, even if you do have the right credit score, have sufficient collateral, and meet the other requirements, a loan at the bank might not be the best loan to address your situation, so it makes sense to understand more about a loan at the bank and investigate all the options to make sure you pick the right loan to meet your small business needs.

The collateral requirement can make it difficult for even a healthy business that doesn't have adequate collateral to apply for a traditional small business loan.

You should be aware that a strong business credit profile is not a guarantee you'll find success with a small business loan — but it likely will make it possible to have more options.

Depending upon the lender there will likely be different document requirements, but having these documents (or at least the information) at your fingertips will make it much easier to apply for a loan at the local bank or an online small business lender regardless of whether or not the documents are required:

Although the loan guarantee program is only one of many things the SBA does to help small businesses, because they recognize that access to capital is a big challenge for many of the businesses they serve, they've made some recent changes that portend a positive impact for small businesses.

The SMART Box isn't intended to replace a lender's current loan disclosure information or documentation, but rather is intended as a supplemental disclosure that identifies key pricing information to make it possible for a small business to assess different loan products and determine the right fit for the business» need or use case.

By looking at the loan process differently, many lenders, like OnDeck, are making more capital available to small businesses that don't have the required assets needed to collateralize a loan at the local bank.

Your business» track record will help them determine the answers to those questions, so making each and every payment to your suppliers, your business credit cards, or other small business loan, is critically important.

A term loan at the bank is what most people think of when they think of small business borrowing — which is why it makes sense for this to be at the top of the list.

Any information within your profile perceived as a negative by a potential lender could make it more difficult to qualify for a small business loan.

If your bank has exhausted all avenues for recovering the debt but still has not recovered the full amount of the loan, they can make a claim to the Small Business Administration against the guarantee the administration put on the loan.

These small business working capital loans can even make it possible to take advantage of an unexpected or one - time business opportunity.

Regardless of whether or not your chosen small business lender uses the SMART Box disclosure, in addition to some basic considerations like amount borrowed, payment frequency and amount, and the term of the loan, understanding the following will help you make a more informed loan decision:

When you consider the traditional weeks - long process and reams of documents associated with a traditional loan application, a simple, easy - to - understand, online loan application makes a lot of sense for time - crunched small business owners.

Small business term loans from the bank may also be expressed in APR — making it one of several ways to compare small business lSmall business term loans from the bank may also be expressed in APR — making it one of several ways to compare small business lsmall business loans.

Depending upon the nature of the equipment, its useful life, and whether or not the intention is to keep it as a long - term asset, an equipment loan could make sense for a small business.

Established to help new businesses get started and established firms make improvements and expand, this small business loan program provides up to $ 500,000 of small business financing for any one business.