Story Archives of 'SBA'

Business Credit: Downsized, But Available

By Jon Greenberg on Wednesday, July 22, 2009.

The economy took its steepest dive last fall when the financial sector began to implode. That choked off the supply of credit to businesses which slowed the economy even more.

Today, money is again flowing to companies in the state, particularly small businesses. But the commercial lending landscape has changed. NHPR’s Jon Greenberg has the latest installment in our series on the economy, Working It Out.

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A Foreclosure With a Happy Ending?

By Jon Greenberg on Friday, July 17, 2009.

In this week’s economic round-up, the focus is on housing, small business loans, and a foreclosure story that’s on track to a happy ending.

NHPR’s resident economy tracker, Jon Greenberg, has more.

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SBA Offers Really Cheap Money

By Jon Greenberg on Monday, June 8, 2009.

The SBA has never offered a loan this generous. Borrowers can get up to 35,000 dollars. They pay no interest. There’s no need to pay anything for the first year and after that, they have five years to pay back the principal. Only firms in distress need apply. Borrowers need to show that they had positive cash flow in one of the past two years and they must have a business plan to show they are viable. The banks do OK too. They get 2% over prime with no risk. Doors open for business on Monday.

Shorter Term SBA Lending Up

By Jon Greenberg on Monday, May 11, 2009.

The latest SBA lending data shows that borrowing under the 7 A program is up by around 65%. Borrowing under the 504 program, which is for bigger ticket items like heavy equipment, is down about 40%.

The trend reflects businesses taking advantage of better terms under the stimulus act (lower fees, up to 90% guarantee for the lenders) to deal with immediate capital needs. They remain cautious about longer term commitments.