Fox Business is reporting growth in small business borrowing: The Thomson Reuters/PayNet Small Business Lending Index, which measures the overall volume of financing to U.S. small businesses, rose 20 percent in December from the same month a year earlier, PayNet said. That is the fastest monthly gain since March 2006, with the index registering the [...]
SBA-backed loans now guarantee up to 90% LTV with recently passed legislation signed into law by President Obama. New lending fees have also been waived to encourage more applications. Titled the “Small Business Jobs Act of 2010″ there are several provisions that make borrowing easier for small businesses. This includes higher loan limits and expanded [...]
According to this article, Small Business lending was up over 50% in a 9 month period in California. This was largely driven by an expansion use of SBA loans for starting and financing small businesses. SBA loans are advantageous to business and banks, as 90% of the loan amount is guaranteed by the federal government. [...]
After a very difficult year in the business lending marketing, 2010 has a brighter outlook. The latest report from the federal reserve shows increased volume and still competitive rates. Underwriting standards remain challenging, but those who have a good relationship with their banker are more likely to get credit in 2010 than they did in [...]
MELBOURNE (Dow Jones)–Westpac Banking Corp. (WBC.AU) said Tuesday it will increase its standard variable home lending rate by 45 basis points, well above the Reserve Bank of Australia’s 25 basis point boost to the official cash rate, because of higher wholesale funding costs. Sydney-based Westpac’s standard variable home lending rate will now stand at 6.76% [...]
The Current Wall Street Journal Prime Rate is: 3.25%
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