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Archive for January, 2010

According to Discover Small Business Watch, America’s small business owners expressed higher economic hopes in January, largely due to increased expectations that conditions for their own businesses would improve in the next six months. The Watch index jumped to 85.5 from 77.0 in December.

More small business owners are planning to increase business development spending over the next six months, with 25% noting they will spend more on activities such as advertising, inventories and capital expenditures. This number is up from 18% in December. Further, 28% plan to make no changes, while 45% will decrease spending, down from 51% in December.

“We measure small business insights and expectations about the larger economy as well as on the local level, so it’s good to see confidence rise on Main Street,” said Ryan Scully, director of Discover’s business credit card. “January showed us the first month-to-month increase since August in the number of small business owners who plan to increase spending on business development. Self-investment is a healthy sign in the small business economy.”

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ELFF: Confidence Slowly Returning to Equipment Finance Sector Monday, January 25, 2010 The Equipment Leasing & Finance Foundation released its Monthly Confidence Index for January, showing the industry’s own outlook on the sector remains essentially flat. Overall, confidence in the equipment finance market is 58.7, virtually the same as the December 2009 index of 58.8.
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The first point you most note not all lenders have the same loans available. Some are more willing to lend than others. Some have less credit criteria. The most important thing is if you are declined at one bank do not give up. You may want to consider a consultant if you are a new business or a growing business. Consultants research and stay in tune with which banks are lending are what programs you may qualify for. www.pfcfinance.com has advice on lending or stay tuned to this blog.

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The government has finally and I say finally(emphasized) put a few measures in place to help free up some lending for SBA loans. In the last year, almost from the day the banks started receiving tarp funds, banks have tightened up dramatically on lending. In 13 years brokering loans I have never experienced such a disaster to our economy. Over 70% of businesses are small businesses and employing the majority of peole in this country. However, they cannot get capital to stay in business, grow their business, purchase equipment, or just survive. The government’s program which expires at the end of February is starting to help.

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Obama Says Bank Fee Aimed at Recovering Rescue Money (Update2)
Share Business ExchangeTwitterFacebook| Email | Print | A A A By Julianna Goldman

Jan. 14 (Bloomberg) — President Barack Obama said the levy he wants to impose on as many as 50 large financial firms is aimed at getting back “every single dime” that taxpayers put in to bailing out those companies.

“My determination to achieve this goal is only heightened when I see reports of massive profits and obscene bonuses at some of the very firms who owe their continued existence to the American people,” Obama said at the White House. “We want our money back, and we’re going to get it.” (more…)

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