Archive for June, 2010

Are the Banks running from small business?

Tuesday, June 22nd, 2010

Everywhere on the news talks about small business lending recovering but from my vantage point more and more banks are abandoning small business and moving to the 5 million plus space.  There is surely less demand out there but for the small business that needs a loan/lease there are few options and FASB looking to change mark to market is very scary.We had our banker in our office today and we spoke about the Accounting lobbyists and what it means for our space.  I am very concerned this is 1933 all over again.  A major lender is abandoning the small business space and 3rd party originations which is US Bancorp.  They are the nations 3rd largest bank, took TARP, and are leaving entrepreneurs abandoned.I have not been writing the last few months but will become very vocal about my views on entrepreneurs, lending, and the America I love.