Smart Borrower Blog

Archive for July, 2015

SBA Flagship Loan Resumes after Congress Raises Cap

Jul 29th, 2015 @ 9:03 PM by Amber Nelson

The Small Business Administration has resumed reviewing and approving applications for its 7(a) loan program following some quick Congressional action to raise its expiring funding limit. The 7(a) loan is the bread-and-butter lending product for the SBA. It allows business owners to purchase or update property and equipment, have more working capital and it can […]

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Big Banks Get Back in the Small Business Loan Groove

Jul 22nd, 2015 @ 7:55 PM by Amber Nelson

American big banks are consistently approving more small business loan applications each month, easing back into that market along with institutional lenders, while credit unions and alternative lenders are taking a step backward. According to the Biz2Credit Small Business Lending Index, big banks – those with more than $10 billion in assets – approved 22.19 […]

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Fed Prez: Expect First Rate Increase This Year

Jul 15th, 2015 @ 8:22 PM by Amber Nelson

The Federal Reserve will be raising interest rates before the end of the year as long as the economy stay on track, said Federal Reserve Chairwoman Janet Yellen this week. In her prepared remarks before the House Financial Services Committee she explained that the gradual improvement in the labor market and unemployment rate – now […]

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Student Loan Debt Hampers U.S. Small Business Creation

Jul 8th, 2015 @ 9:07 PM by Amber Nelson

It appears the consequences of $1 trillion in student loan debt are finally catching up to the U.S. economy. Large student loan debts are keeping many would-be entrepreneurs from starting their own small businesses, according to a recent study by the Federal Reserve Bank of Philadelphia and the Penn State Smeal College of Business. The […]

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Mortgage Originations Jump 75 Percent from Last Year

Jul 1st, 2015 @ 8:16 PM by Amber Nelson

Low interest rates and increased inventory helped the number of U.S. mortgage origination balances skyrocket almost 75 percent in the first quarter of this year, according to the Equifax National Consumer Credit Trends Report. Mortgages originated in the 2015 first quarter totaled $466 billion, up 74.4 percent from the first quarter of 2014. “The drop in […]

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