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BusinessWeek:
The 30% interest rate on their small business credit card shocked James and Heather Hills enough to stop using it entirely in April.
The couple had turned to credit cards in early 2006 to get their Elgin (Ill.) startup, mhn Internet Marketing and PR, off the ground, after three loan officers told them that they wouldn’t […]
Reuters:
As losses mount at American banks and the pain of the credit crisis spreads from housing and finance to the broader economy, many small companies complain it is increasingly difficult to obtain loans.
Tighter credit could not only help to push the United States into recession, but prolong the downturn as ideas for new businesses get […]
Work.com:
A business line of credit – ready cash anytime you need it – is a marvelous and flexible financial tool to help a small business grow and keep you in control.
Establishing the revolving credit line is cheap, you only pay interest on what you borrow and you can use the line for almost anything.
Tap your […]
The Wall Street Journal:
Three weeks ago, 50-year-old Mimi Norris strapped on black steel-toe boots, packed a face mask and a digital camera in her bag, and headed to work. Her assignment: inspecting a foreclosed home in a blue-collar neighborhood of Akron, Ohio.
From outside, the small white house appeared to be in good condition, but as […]
Forbes:
When credit gets tight, the vampires come out.
Now feasting on small businesses is a cadre of “merchant cash advance” (MCA) shops. These lenders of last resort–which started popping up after the tech crash in 2001–give small businesses cash today in return for a percentage of their future credit card sales. Annualized cost of that precious […]
Reuters:
The credit crunch driven by the U.S. housing crisis appears to have hit another engine of the American economy — small businesses.
After years of fast and loose lending, major banks have begun tightening standards for loans to small businesses — often described as the backbone of the jobs market. That is making it harder to […]
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