Business Loans News

plant growing inside a lightbulb
Dec, 4, 2012
A new state program for commercial loans has been launched in Michigan. The goal of the initiative is to have businesses save money by becoming more energy efficient. “The Michigan Saves Business Energy Financing Program is a win-win-win for Michiganders. It helps businesses save on costs, creates good-paying jobs and moves us toward a greener energy future,” said Governor Rick Snyder in a press release.
Hawaiian state flag with dollars
Nov, 29, 2012
In Hawaii a new program has been launched in order to help local Native Hawaiian entrepreneurs expand their business operations. The new initiative is called the Hua Kanu Business Loan program. It operates under the oversight of the Office of Hawaiian Affairs (OHA). Business loans offered through the program are administered by the Pacific Rim Bank, a local Hawaiian financial institution. The first Native Hawaiian businessman to receive financing from the OHA’s new program was Tracy PoePoe, the President of Trace Industries in Mapunapuna.
dollars in a circle
Nov, 21, 2012
Wells Fargo has created a new online resource called the Business Credit Center. The new website is designed for small business owners and prospective entrepreneurs. On the website, viewers can learn about commercial credit, government financing options and how to calculate commercial loan financing needs.
front of the White House
Nov, 20, 2012
The White House has renewed its commitment to helping victims of Hurricane Sandy. The Obama Administration continues to support areas damaged by Sandy weeks after the super-storm had dissipated. President Obama has also announced plans to have Housing and Urban Development Secretary Shaun Donovan work with local government in order to begin redeveloping affected communities.
Hands donating to fund
Nov, 19, 2012
Crowdfunding has become a billion dollar industry, according to a Crowdfunding Industry Report. The report by Crowdsourcing.org, a neutral professional association, stated that in 2011, nearly $1.5 billion was raised by crowdfunding platforms (CFPs) — and that number is only expected to rise. The total number of CFPs was 452 in April 2012. It is estimated to rise to 536 by December 2012. Some of the prominent websites include Kickstarter, IndieGoGo, ProFounder, Rockethub, and MicroVentures, among many others.
Destroyed crops
Nov, 14, 2012
The U.S. Small Business Administration (SBA) is offering federal disaster loans to Northern U.S. residents to offset losses from recent droughts. The affected drought disaster states include Michigan, Minnesota, Montana, New Jersey, New York, North Dakota and South Dakota. Drought and excessive heat that started in the summer reached a peak mainly during September and October.
Eisenhower statue with flag
Nov, 12, 2012
The Small Business Administration has been instrumental in helping veterans launch businesses. One of these veterans is Tim Rush, a US Army veteran who began a countertop and cabinet business in Nebraska. “I had been looking for a building with showroom space in the front and that would also accommodate a shop in the back since 1995, and as it turns out, they are actually few and far between. I jumped at the opportunity, secured the building, chose countertops as my product, dropped everything else in my life, and in May of 2011, Flat Tops Counter Co. was born,” said Rush in an interview with The Independent.
businesses in a city destroyed by a natural disaster
Nov, 9, 2012
Super-storm Sandy has prompted a massive demand for disaster loans among small businesses. One of these businesses was Parliament Tutors, an in-home tutoring business in the New England area. When the super-storm hit and knocked out large amounts of power, the business cleverly continued operations in internet equipped cafes. “We had to find a solution, or we were going to take a very serious hit. We were able to recoup a lot,” said David Greenberg, owner of Parliament Tutors, in an interview with Reuters.
Disaster search party
Nov, 8, 2012
In the destroyed remains left by Hurricane Sandy, business owners are searching for ways to keep their businesses afloat. Many are turning to disaster business loans while waiting for insurance funding to be approved.
Canadian flag on map of Canada
Nov, 6, 2012
The Royal Bank of Canada, Toronto-Dominion Bank and several other Canadian banks are ramping up efforts to increase their market shares of the $18.4 billion commercial loan market. “We find it as an attractive area to grow in Canada, which is a relatively slow-growth market for us. It remains a priority, because we see growth,” said Richard Waugh, CEO of Bank of Nova Scotia, in an interview with Delaware Online.

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