In these tough times, it’s hard for folks to get a loan, but one mid-state city is allowing people to borrow money in an effort to create more jobs. For 32 years, David Lynn has been an entrepreneur and knows starting a business is not always easy. “24 hours a day. It’s a lot...
With financial help for the nation’s small businesses still tough to get, many smaller firms are turning reluctantly to high-dollar lenders of last resort. Across the nation, small businesses are paying private lenders annual rates of up to 36% plus fees to get the cash they need to buy inventory, pay their mortgages and...
During small business week in Washington small business owners said that some of the smaller community lenders were more helpful than larger national banks. The bill that failed to pass would have created a $30 billion dollar fund to help community banks offer more loans and $12 million dollars in small business tax breaks....
Wealth report puts number of high net worth individuals back to 2007 levels, at 10 million, with biggest growth in Asia-Pacific region There are now 10 million individuals with more than $1m (£680,000) of free cash and for the first time the Asia-Pacific region is home to as many of these “high net worth...
Three-fifths of the largest 25 Twin Cities credit unions are reporting lower capital ratios. The biggest culprit is a drop-off in lending. Many of the largest area credit unions reported double-digit-percentage drops in the dollar value of loans generated in the first three months of 2010 versus the same time period last year. “You’re...
The Seattle-based bank, which targeted Asian Americans as customers, was undone by the same force behind most of the state’s spate of bank failures: an over-concentration in real-estate lending, especially to builders and developers. When those borrowers have been unable to repay, banks have been left holding worthless paper or unsaleable properties. And small,...
Investors spent a little more than $122 million on commercial real estate in Hawaii during the first quarter of this year, which was $12 million, or 9 percent, less than commercial sales a year ago, according to a new report. There were just 17 transactions of $1 million or more during the first three...
Massachusetts small businesses, seeing prospects improving, are borrowing more money through SBA government loan programs funded through local banks and other financial entities. East Boston Savings Bank Among the new SBA lenders is East Boston Savings Bank, which has made nearly $2 million in SBA loans since October, according to the agency. Eastern Bank,...
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