Newtek Business Services Corp. Reports First Quarter 2022 Financial Results | News

Newtek Business Services Corp. Reports First Quarter 2022 Financial Results | News

BOCA RATON, Fla., May 04, 2022 (GLOBE NEWSWIRE) — Newtek Business Services Corp.  (“Newtek” or the “Company”) (Nasdaq: NEWT), an internally managed business development company (“BDC”), announced today its financial and operating results for three months ended March 31, 2022. First Quarter 2022 Financial Highlights Total investment income of $20.3 million for the three months ended March … Read more

Small businesses in need of a loan find banks stingy

Small businesses in need of a loan find banks stingy

NEW YORK (AP) — Small businesses are still struggling with the pandemic and now high inflation — and they’re finding it difficult to get a loan to help them with day-to-day tasks. A survey recently released by the Federal Reserve shows how the pandemic has changed the financial landscape for small businesses. About 85% experienced … Read more

How the SBA Funds Underserved Entrepreneurs, Meet the Millennial Millionaire Who Founded Fintech Bolt, and More for Small Business Owners

How the SBA Funds Underserved Entrepreneurs, Meet the Millennial Millionaire Who Founded Fintech Bolt, and More for Small Business Owners

Introducing this week’s bi-weekly edition of The Pursuit newsletter, bringing the latest small business and entrepreneur news and commentary straight to your inbox on Wednesday mornings. Click here to subscribe to the newsletter list! LLast month, Isabella Casillas Guzman, head of the Small Business Administration, joined Vice President Kamala Harris in announcing reforms to Community … Read more

Why the Rate of Black Business Owners is Rising | national news

Why the Rate of Black Business Owners is Rising |  national news

But around 2020, things started to change. In a normal year, the local urban redevelopment authority grants about 30 to 50 loans. In 2020, it made more than 350 loans — and almost half went to black-owned businesses. Pittsburgh is part of a larger trend. African-American business owners were one of the hardest hit groups … Read more

Where to look if banks reject your small business loan application

Where to look if banks reject your small business loan application

Small business loan approval percentages in large banks (over $10 billion in assets) fell from 13.6% in June 2021 to 13.8% in July, the same percentage as a year ago, according to the latest Biz2Credit Small Business Lending Index™. The approval percentage at major banks is about half of what it was at the start … Read more

Most small businesses want more federal help. The odds aren’t great

Most small businesses want more federal help.  The odds aren’t great

Elizabeth Frantz | Reuters A majority of Main Street small business owners say they favor more financial assistance from the federal government, but the resolution of the battle in Congress last week over the federal government’s spending bill shows that it may not come . This shouldn’t be a surprise. With fiscal hawks reluctant to … Read more

Small businesses in need of a loan find banks greedy | Utah News

Small businesses in need of a loan find banks greedy |  Utah News

By MAE ANDERSON, AP Business Writer NEW YORK (AP) — Small businesses are still struggling with the pandemic and now high inflation — and they’re finding it difficult to get a loan to help them with day-to-day tasks. A survey recently released by the Federal Reserve shows how the pandemic has changed the financial landscape … Read more

How some small businesses have survived the Covid pandemic without them

How some small businesses have survived the Covid pandemic without them

The storefront of Mark Shriner’s small business, The Coffee House, in downtown Lincoln, Nebraska. Courtesy: Mark Shriner Mark Shriner needed help. It was spring 2020, and his coffee shop in Lincoln, Nebraska, was at risk as the Covid-19 pandemic forced small businesses like his to close their doors. So he sought assistance from the federal … Read more

Need a business loan? Inflation drives Main Street into more debt

Need a business loan?  Inflation drives Main Street into more debt

SAN FRANCISCO, CA – APRIL 28: Deanna Sison takes a break from preparing pre-ordered lunches to check on the status of her federal small business loan application at Little Skillet Restaurant in San Francisco, California on Tuesday, April 28, 2020. The Most of the Covid financial relief to small businesses has now ended, but the … Read more

What Minority Business Owners Need to Know About Getting Bank Loans

What Minority Business Owners Need to Know About Getting Bank Loans

As high street businesses continue to make a comeback post-pandemic, they face the triple threat of supply chain headwinds, labor constraints and historic inflation. For some, borrowing to invest, grow or simply stay afloat is a priority. Data from Goldman Sachs’ 10,000 Small Business Voices “Small Businesses on the Brink” survey reveals that 86% of … Read more