Approval rates of small business loans at big banks hit a new index high of 17.6 percent in December, compared to 17.4 percent in November, according to the latest update of the Biz2Credit lending index. But alternative (non-bank) lenders continue to be a big player in small business lending.Read more
The SLA programs, a 7(a) loan initiative meant to expand access to loans less than $350,000, was launched in February 2011 and revamped in June 2012.Read more
Overall, satisfaction among small business owners with their banks declined in 2013, but they seem content with fee structures, according to the latest J.D. Power study. The dip in overall satisfaction is blamed on “problem resolution and with the most frequently used transaction methods, branch and online.”Read more
The Obama Administration Monday celebrated a website that by most accounts is working well for entrepreneurs, small businesses and U.S. exporters — a sharp contrast from the tumult over that website having to do with healthcare.
BusinessUSA.gov was born on October 28, 2011.
The U.S. Small Business Administration is back at work with the end of the government’s shutdown, and now has $140 million in unprocessed 7(a) loans. That’s the amount in loans for 700 small businesses that applied during the shutdown.Read more
Small business loan approvals at big banks — institutions with $10 billion or more in assets — jumped to an all-time index high of 17.4 percent in July 2013, from 16.9 percent in June. Approval rates have jumped 50 percent from a year ago.Read more