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The turbulent economy is exposing yet another type of credit where bankers let their guard down: small-business loans.
Missed payments and losses on small-business loans are surging at banks throughout the country that were so eager to pad their profits that they essentially threw typical underwriting methods out the window. Some lenders doled
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Be wary if some of your clients are getting slow on payments. More businesses filed for bankruptcy in April, 2008, than in any month since new bankruptcy laws took effect in 2005, according to a company that tracks federal court filings.
The numbers show a 49% increase in commercial bankruptcies over last year, with an average of 235 daily fil
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Every small business owner should understand the inter-relationship between revenues, assets, and cash flow. The saying, “cash is king” means everything to a successful business owner and can often make the difference between a business thriving or dying.
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These days, small-business owners like Metzger have to be creative about getting the money to start and expand their companies. Many are turning to nontraditional sources, such as credit unions. Increasing numbers are going to online lending sites that cut out the traditional bank middleman and to factoring companies, which buy companies' future
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The financial services companies would like you to know that April is Financial Literacy Month. What are you reading?
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Scammers are taking advantage of the credit crunch to entice small business owners with fake loans. Here's how to identify the warning signs.
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Why is 91% of the population worried about inflation while the fed assures us that everything is under control?
There are several possibilities: The first is that we're all paranoid. We simply need reassurance from the authorities: Inflation rates are fine, nothing to see here, move along quietly. The second is that the Fed's insistence on f
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The slow economy spells some unexpected breaks for shippers. Eager to grab bigger shares of a market that has all but stopped growing, FedEx, UPS and DHL will duke it out, negotiating contracts to reduce rates, despite an official 6.9% hike this year. Walk-ins, however, will pay the full fare.
Package delivery services won't trumpet the price
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Welcome to the world of "credit card shaving." Like mathematicians searching for the right formula, thieves painstakingly try out combinations of 16 digits until they come up with a series that fits someone's card number. They grab gift cards found in most grocery stores and craft their own credit card or debit card -- shaving numbers off the g
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The New York State legislature has passed a law requiring online retailers to collect sales tax on items shipped to New York inhabitants, regardless of the retailer's base of operations.
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In the last 30 days, lenders have sent several hundred thousand letters advising borrowers that their home equity lines of credit are frozen. Small-business owners who use home equity lines to bridge cash-flow gaps throughout the year are also being stricken by these curbs.
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Advocates for small businesses are fighting changes in tax laws that the Bush administration says are aimed at cracking down on tax cheating, particularly by the self-employed. These changes will create a mountain of new paperwork that will be cumbersome and costly.
One proposal, part of President Bush’s budget, would require detailed reporting
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From article: Despite the broader economic rumblings, it’ s never been cheaper to start a company and there’s still a ton of venture money out there. In fact, Ressi told me that there is so much money out there for startups that VCs are now offering to partially buy out founders’ personal stakes to get deals. In effect, they are paying off the fou
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In an effort to win over a new client, could you be underestimating the time it'll take you to see a project through to completion? One way to become better at estimating your costs and time needed for a project? Try the Rule of Π.
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