Search results for banks
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Small business is becoming big business for credit-card issuers.
With the consumer market saturated, card issuers and banks are expanding their credit-card offerings for small businesses in a bid to get in on what they see as an untapped market. Estimates vary, but American Express says only about 14% of the more than $2 trillion small business
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Recent bank failures are understandably scaring business owners who may keep hundreds of thousands of dollars stashed away for payroll, operating costs or emergencies.
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Small-business exporters may face a problem in obtaining money from their lenders to buy or produce the goods or services to fulfill an export contract. They may not have the collateral to obtain sufficient working capital loans from their banks, particularly in times of tightened credit.
Enter the Export-Import Bank of the United States, the g
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While most financial-services firms are floundering, those that specialize in so-called merchant cash advances are thriving. That's a mixed blessing for small business owners who increasingly are turning to these sources for quick cash: Their money can come with a high price tag.
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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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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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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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Adverse credit mortgages are mortgages that are meant for people with a bad credit history. Usually, lenders will not provide a mortgage to people with a bad credit history because of the inherent risks involved in providing a mortgage to such customers. However, banks have now created new mortgage products that are meant for people with a bad cre
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Cybercriminials' latest effort involves a combination of VoIP and phishing and is aimed squarely at small and midsize businesses.
Cybercriminals have become quite adept at taking advantage of the latest technology. Their latest foray centers on leveraging the significant acceptance of Voice over IP (VoIP) to steal personal information.
Th
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The mortgage credit crunch has spilled over into business lending as local banks are less risk-inclined than they used to be and credit is harder to come by for businesses, U.S. Small Business Administration officials said. The number of SBA-backed loans from banks has trended down as banks toughen their standards and small businesses are more cau
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All Monique Walker needed was $5,000 to rebuild her business in Houston after Hurricane Katrina. But the banks said no. Arga Bourgeois needed $10,000 to expand her store, the only health food outlet in her black neighborhood. But the banks said no. Both women found help with Acción Texas, a nonprofit lender that provides microloans to startups or
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Community banks often have the edge in securing small-business clients because of the personal attention they can provide and the knowledge they have of their market; many have bankers who have worked in the same market for more than 30 years. These types of banks offer a full range of services and are able to make decisions locally, based on the
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There are banks and credit unions and loan sharks. Now you can add a new funding option to the list and it's one that small businesses, with good solid credit, may find extremely beneficial. Simply, the Lending Club uses social networking to hook lenders and borrowers together. It's like the Match.com of credit. Those with good credit reports ca
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