Is funding your startup through credit cards a viable solution? After all, not every aspiring entrepreneur is lucky enough to qualify for a business loan. We’ll tell you the risks of funding your startup with credit cards and some alternative strategies you can explore. Tempting Low...
As banking continues to go through changes and services become more electronic-based, bank branches are slowly falling off the map. Just under 2,600 bank branches have closed in 2014, while a mere 1,137 have opened. SNL Financial reported that 2013 saw a net loss of...
In a recent move by Washington to stunt economic growth, Washington agreed to a two-step strategy. The first step involves Fannie Mae bringing back low and no money down mortgages. The second step would be to discourage business loans. A few weeks ago, Mel Watts, the...
In a recent hearing before the Senate Banking Committee, lawmakers continue to call for increased regulatory reform from regulators in an effort to reduce the risk big banks pose to the U.S. financial system. A distinction was made between large banks and other financial institutions....
According to recently released figures by the FDIC, outstanding construction loans for both residential and commercial projects increased to $223.2 billion in the second quarter. That is a 4% increase over the first quarter. According to economists, the increase is due to the fact that lenders...
Banks have come under intense scrutiny in recent years following the financial crisis that began in 2007. The regulatory pressure doesn’t seem to be letting up anytime soon as regulators attempt to reign in banks designated as “systemically important.” According to regulators, systemically important banks are...
The Bureau of Economic Analysis released an advanced estimate of the United States GDP for the second quarter earlier today. After what many would have designated as a weak first quarter, the US economy gained some momentum in the second quarter and came in stronger...
In a recent report issued by the Office of the Comptroller of the Currency (OCC), certain areas of concern were highlighted which identified where banks took on more risk in pursuit of profits: high-yield loans issued to more speculative borrowers and indirect auto loans issued...
In an effort to assist minority entrepreneurs to borrower funds for business ventures, the federal government recently announced it would be streamlining its lending standards in connection with Small Business Administration (“SBA”) Loans. In order to increase the percentage of loans made to African American business...
Now that you’ve assessed your progress to date upon the close of the first quarter, its time to determine how much time you have to get going. In an article in the Wall Street Journal from April 1, 2014 entitled, “Creating A Path To Bankability,” the...