Over $660 Billion Available for small business loans
A recent New York Times Article discussed all the efforts that the Obama administration and Federal Reserve have been putting into getting regional and community banks to make small business loans. Ben Bernanke, the head of the Federal Reserve, is making small business lending one of the key priorities for his policy team. This is in recognition that small business lending is one of the key requirements to getting small businesses to hire more workers and end the recession that we are currently in. Most of the $660 Billion in available financing for small businesses is being lent by regional and community oriented banks. These banks have not been caught up in trading for their own accounts or other risky activities like the large money center banks but make their money from bread-and-butter small business loans which help companies build or renovate buildings, manage their inventories, buy new capital equipment or hire new workers. Not for profit organizations such as churches or community organizations can also borrow from these community or regional banks to build or renovate their buildings or expand their programs to help people cope with this difficult environment.
We have in fact seen an uptick in the lending activity of community or regional banks lending to small businesses. We have helped several companies in Washington State find financing when they thought the credit markets had closed. So small business loans and small business financing is available. If you need assistance with your financing needs for real estate, capital equipment or working capital then please don’t hesitate to contact us and we can match you with the right bank.
July 10th, 2010 at 6:54 am
[...] have relationships with community banks all over Wa State, who are lending! read our article on financing small business loans. We will pre-screen your loan with perspective banks to ensure you have the greatest chance of [...]