Today, Bob Coleman reports on the “2014 Joint Small Business Credit Survey“, a study compiled by the Federal Reserve Banks of New York, Atlanta, Cleveland and Philadelphia, that reveals that one in three small businesses that received credit in the first half of 2014 came in the form of a SBA loan.
Read more news about SBA lending at the Coleman Report.
~ To find out whether your small business qualifies for an SBA loan, please contact BusinessUS using our contact page, or send an email to Norris Lozano, our CEO,
Time well spent: Have a look and listen to this impactful talk with Connie Evans, President & CEO, Association for Enterprise Opportunity in Washington DC, hosted by Bob Coleman of the Coleman Report.
Ms. Evans gives an impressive array of facts about the benefits of micro-lending (loans of up to $50,000) and micro-capital (up to $250,000) to small businesses of up to 5 employees.
Among others, she says that such businesses are declined for loans by banks at a rate of 8,000 declines per day.
8,000. Declines. Per. Day.
The opportunity to serve these underserved small business borrowers is profound.
~ Norris Lozano, CEO, BusinessUS, a California-based small business lender
Coleman Report article last week seems to be confirmed by economic data released since, predicting “positive trends for the U.S. construction market in 2014, including several sectors that will directly impact SBA lending.”
See the rest of the article here.
~ Norris Lozano, CEO BusinessUS
Nice clean summary of the Wall Street Journal article here.
If you recall, we wrote about this trend 6 months ago here.
At that time, I stated the following: “Where there are concerns across the industry about particular markets that are underserved by banks, we see a real opportunity. One of our primary goals is to help provide new capital resources to small businesses owned by minorities, women tribal groups and those located in underserved geographical locations.”
BusinessUS is missioned to provide 60% of our loan volume to underserved markets.
~ Norris Lozano, CEO of BusinessUS
Manufacturing jobs are slowly returning to the U.S., presenting an opportunity for small businesses, witnesses told the House Small Business Subcommittee on Economic Growth, Tax and Capital Access.”
Or so it says in this article in Inc.
Not so fast, says Charles Green in the Coleman Report, titled “CITIBANK’S EMPTY CLAIMS ABOUT SMALL BUSINESS LENDING SUPREMACY”.
We’re not picking sides, just passing along the news…
Would love to hear from you about small business growth and loans, use this link: Norris Lozano, CEO of BusinessUS
We know we’re doing something right when we get a mention in the Coleman Report.
Check it here
~ Posted by BusinessUS