Bank Approvals for Non-PPP Loans Increase Slightly | Small Business Trends

April 22, 2021April 21, 2021 ~ knjohn ~ Leave a comment

Loan approval rates for small businesses are increasing slightly. The uptick in lending of non-PPP loans to small businesses was unveiled in the latest Biz2Credit Small Business Lending Index based on March 2021 figures. Since mid-January, Biz2Credit has been a leading processor of PPP applications in the US.

The amount of lending by big banks increased to 13.5% in March 2021. The increase is welcoming news for the small business community, as in February 2021, the figure stood at 13.3%. This was just a 0.1% rise from January 2021.

How a Microloan Can Help Your New Small Business | businessnewsdaily.com

October 27, 2020October 25, 2020 ~ knjohn ~ Leave a comment

If your new small business needs a short-term, low-interest infusion of funds, a microloan could be exactly what you’re looking for.

Microloans can help small businesses launch and grow through small-dollar lending.

Though they’re generally considered a great way to build a credit file for your business, very few lenders in the U.S. offer microloans.

Unlike some business loans, microloans can be used for a wide range of items or needs.

Small business loan total drops by $10 billion | money.cnn.com

November 25, 2009 ~ lmehit ~ Leave a comment

The 22 banks that got the most help from the Treasury’s bailout programs cut their small business loan balances by a collective $10.5 billion over the past six months, according to a government report released Monday.

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SBA Stimulus Loan Money Runs Out|CNN Money.com

November 25, 2009 ~ lmehit ~ Leave a comment

The Small Business Administration said Monday that it has run through all of the $375 million Congress allocated to temporarily waive fees and boost guarantees on loans backed by the SBA’s lending programs. Businesses still hoping for a slice of the pie can get in line, cross their fingers and wait.

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