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CIT is teetering on the verge of bankruptcy. Feds have deemed the company as not ‘too big to fail’ and as a result with no federal help forthcoming, the company has run out of options.
CIT may not be too big to fail in numbers, but it is a critical part of the small business economy [...]

photo credit: henrybloomfield
Authorized as part of the Stimulus Bill, SBA guaranteed emergency small business loans (ARC loans, or America’s Recovery Capital loans) are slated to start June 15th. These loans will allow struggling businesses to get $35,000 in funding at no interest with principal repayments to start one year later. The small business will [...]

photo credit: orphanjones
Advanta’s uncollectible debt reached 20% as of March 31 prompting the small business credit card issuer to shutdown new lending as of June 10th to preserve capital. Advanta is offering 65 to 75 cents on the dollar to its securitized debt holders.
The shutdown in credit by Advanta will affect as much as [...]

For many budding entrepreneurs, franchising a business is an attractive option. It allows them to become a business owner using processes and systems which have been shown to work in the field. Franchising appears to be a low cost-low risk way to own a business. However, before you start a franchise business, you need to be aware of the pitfalls and find ways to go about selecting, evaluating and ultimately signing up with a franchise in a more aware and intelligent manner.

President Obama released a new plan to ease small business credit. Small business lending has declined as the banks continue to hoard money and it is hoped that this new plan will help the small business sector that generates 70% of all jobs in the country