A unit of Citizens Financial Group recently reported a full-year net loss of $600.4 million for 2009 after charging off more than $2 billion in bad loans. RBS Citizens, the No. 2 retail bank in Massachusetts, … [Read more...]
Obama: Small Business Key for Recovery
January 28, 2010 By Leave a Comment
President Obama puts economy, small businesses, and job creation at the center of his State of the Union address. Kent Bernhard, Jr writes at Portfolio.com that faced with a national 10 percent unemployment rate and a … [Read more...]
Congress Boosts SBA Loans
December 22, 2009 By Leave a Comment
Portfolio.com reports that after weeks of talk about the credit crunch facing small businesses, Washington finally is doing something about it. The $636 billion defense bill passed by the Senate Saturday includes $125 … [Read more...]
Joblessness Plan Revamps Rules on Bank Bailouts
December 13, 2009 By Leave a Comment
David Cho writes in the Washington Post that the Obama administration plans to channel money from the government's massive financial bailout program to small businesses as part of an effort to limit the political and … [Read more...]
Bank’s Pullout Idles Dunkin’ Donuts Construction
December 13, 2009 By Leave a Comment
John Davis of the Poughkeepsie Journal reports that the construction of a Dunkin' Donuts in the LaGrange town center remains at a standstill due to lack of capital. "The bank pulled the financing," said Nick Palumbo, … [Read more...]
Obama wants $100M more to carry small-business programs
November 28, 2009 By Leave a Comment
The Obama administration is strongly urging Capitol Hill to add new funds to a popular small-business loan program that is nearly out of money. As part of the $787 billion fiscal stimulus package earlier this year, … [Read more...]
Main Street’s Credit Crunch
November 28, 2009 By 1 Comment
Treasury Secretary Tim Geithner spent most of the day Wednesday with small-business owners and bankers, discussing ways to ease the credit crunch that’s stifling economic recovery on Main Street. Geithner and Karen … [Read more...]
Small Biz Wants Loan Breaks Reinstated
November 28, 2009 By Leave a Comment
Small business groups and lenders urged Congress to reinstate the 90 percent government guarantee and fee reductions on SBA loans. The economic stimulus bill provided the SBA with $375 million to increase the loan … [Read more...]
Small business loans: $10 billion evaporates
November 19, 2009 By Leave a Comment
Catherine Clifford reports at CNNMoney.com that eight months after President Obama began prodding the nation's banks to increase their small business lending, the loan numbers continue to move in the opposite … [Read more...]
Dunkin’ Brands says CIT bankruptcy won’t affect stores
November 10, 2009 By 1 Comment
Christa Hoyland reports at QSRWeb.com that Commercial lender CIT Group Inc. filed for bankruptcy Sunday to cut $10 billion in debt after a U.S. bailout and debt exchange offer failed this summer. CIT said operations will … [Read more...]
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