I hope this is true.
Hoping to ease the small-business credit crunch, six regulatory agencies recently banded together in a joint statement essentially promising to back off second-guessing banks’ loans. “Prudent” small business lending “will not be subject to supervisory criticism,” a regulatory group led by the Federal Deposit Insurance Corp (FDIC) said earlier this month.
More fallout from the Greece situation:
Tommaso Padoa-Schioppa, a former European Central Bank executive board member and Italian finance minister, said today there was no possibility of a partition of the euro-zone.
“I don’t think there is any prospect for such an event and I don’t think it makes much sense to talk about it,” he said in an interview on Bloomberg Television.
You may or may not be aware, but Greece is on the edge of a complete economic collapse. The problem is that the more prosperous European Union countries don’t want to ride to the rescue of their unfortunate neighbors:
But the Europeans are not being careful – and it’s not just about Greece any more. Worries about government debt and associated public sector liabilities (e.g., because banking systems are in deep trouble) have spread through the eurozone to Spain and Portugal. Ireland and Italy are next up for hostile reconsideration by the markets, and the UK may not be far behind.
This is irony.
The Mortgage B
ankers Association moved into the building in 2008 just as the real estate market was crashing, and ended up paying millions of dollars more when interest rates rose. Moreover, the leasing market slowed considerably and the association had trouble getting other tenants into the 168,000-square-foot building.
…the 22 banks that got the most aid from the government’s various bailout programs have cut their small business loan balances by $12.5 billion since April.
The latest complete report on the Troubled Asset Relief Program is available here (224 pages).
Business Matchmaking and SBDC team to help entrepreneurs access contracts
Statewide small business stimulus program heads to Riverside
SACRAMENTO — On Feb. 4 Riverside businesses will have the opportunity to participate in a free statewide program aimed at increasing small business readiness to access stimulus-funded contracts through President Obama’s Economic Recovery Plan.
Continue reading “Statewide small business stimulus program heads to Riverside | Office of the Small Business Advocate”
Fitch’s December Retail Credit Card Index results show that more than one in every eight dollars of receivables was written off as uncollectable during the November collection period on an annualized basis.
Similar to chargeoffs, the deterioration in delinquencies has slowed significantly from the previous year, yet they still remain almost 48% higher than 2007. Despite these short term improvements, Fitch expects retail credit card delinquencies to remain elevated throughout first half 2010 in line with its expectations for unemployment.
If you’re interested in participating in American Recovery and Reinvestment Act projects but don’t how to find or apply for them, then the attached documents should help.
To read an overview brochure, click here.
To read a detailed PowerPoint presentation, click here.
Good Hunting!
Highlights include:
Santa Rosa, County Due Millions in Stimulus Aid – $7.4MM
Forest Service Gets $185 Million to Expand Payroll in Region – $185MM
Workforce Investment Board Offers Free Employment Advice – $220K
Fiber Dominates Latest US Rural Broadband Stimulus Funds Release – $300MM
NIH Funding of Biomedical Innovation Is Creating Jobs, Fueling Industry – $10.5BN
Continue reading “Stimulus News Digest | Office of the Small Business Advocate”
Dispatches From The Front 