Small Business Boomers

One result of the credit/banking crisis has been a new wave of lenders who can help you get loans for your small business when other traditional lenders cannot.  A recent Wall Street Journal article detailed one such lender, On Deck Capital.  Instead of requiring you to put up assets for more traditional types of loans, On Deck lets you leverage your cash flow for loans up to $100,000.
If you are like a lot of other small business owners, you may be finding it difficult to get a traditional loan.  On Deck  says that 65 percent of small businesses seeking loans …read more

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I read today about a small business owner in Texas who had been a good customer at a bank, and who wanted a loan to expand his business. Yet the bank wanted him to have $1 million in the bank in order to borrow an additional $1/2 million (doesn’t make sense, does it?). These kinds of stories worry me, because they affect not only the business owner but the entire U.S. economy for the future as well.
Small businesses are the key to economic growth. Look at this one example:

The businesman was going to hire 45 more …read more

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