After a dismal 2009 that saw many small businesses struggle to find financing
to meet their operational needs, small business lending is showing signs of
rebounding in 2010. According to the Small Business Administrations latest data, the SBAs 7(a) program gave out $3.8B in loans to 12,393 businesses. This was nearly twice as much as a year ago where they gave out only $1.9B and signals that banks are beginning to open up their wallets.
Though SBA loans are just a small fraction of all small business loans, they
are an important indicator of banks willingness to lend. In addition, a number of government stimulus programs have encouraged lending such as the $375M Recovery Act in February, the $125M extension of the Recovery Act last month and Americas Recovery Capital loan program last year.
If you are still having trouble finding funding, Merchant Cash Advance services might be a great way to access financing. Otherwise, the entire article can be found here
Increase Text Size
Decrease Text Size
