Business Loans News

Hourglass and clock
Sep, 6, 2012
The 504 loan refinancing program, ran by the Small Business Administration (SBA), is expiring at the end of this month. Launched in Feb. 2011, the 504 loan refinancing program was created to offer SBA loans with the intention of spurring economic growth and to help small businesses recover from the recession.
Rising piggy bank chart
Sep, 5, 2012
Small business loan lending has risen 3 percent in July after steadily falling for five of the last six months, according to a survey by the research firm PayNet. The survey is based upon newly borrowed business loans as well as leases that are granted to small businesses by U.S. lenders. In comparison to one year ago, commercial lending has risen 15 percent, showing a marked increase of business loans being made. Business loan payments also saw a noticeable change in July.
Money wrapped with ribbon and bow
Aug, 27, 2012
Washington D.C. has lent a total of $1.2 million in interest-free small business loans to local owners since the start of the year, reported the Washington Examiner. The 14 business loans lent were a product of the city’s Department of Small and Local Business Development program that began last November. All of the business loans—ranging from $40,000 to more than $150,000—were given to commercial institutions that were negatively affected by the city’s ongoing construction.
Bipartisan Legislation May Lead to More Business Loans
Aug, 15, 2012
It seems Congress left behind a potentially valuable (at least to small businesses and political parties) piece of legislation when it recessed in early August, according to the Washington Post. On July 25, Sen. Mary L. Landrieu, a Democrat from Louisiana and Chair of the Senate Committee on Small Business and Entrepreneurship, introduced the SUCCESS Act of 2012. The SUCCESS Act hopes to extend several common tax breaks used by small firms, including the elimination of capital gains taxes on investments in small business equity.
Locked money
Aug, 15, 2012
As our economy continues its so-called recovery, more and more small businesses are finding it difficult, if not impossible, to find financing. Allison O’Neil, founder of the toddler clothing store, Bundle, knows that fact all too well. She explained the challenges she faced when trying to find money for her startup in 2008 to the Federal Reserve Board of New York. “I had great credit. I had basically four times the amount of a loan I was looking for in my brokerage account and they didn’t care. They were just like, ‘We’re not taking any risks on startups,’” she said.