Bob Coleman brought this to our attention....
The Good News from the Spin is that according to the Treasury report issues a few weeks ago the SMALL BUSINESS LENDING FUND increased loans by more than 10 percent last quarter. An increase of $1.3 billion over the prior quarter and 84 percent of them increased their lending.
The Bad News is that Bloomberg reports that only $4 BILLION of $30 BILLION of the treasury's SMALL BUSINESS LENDING FUND was sent to 332 community banks.
ONLY $4 BILLION of the $30 BILLION???
These are really anemic results and obviously there needs to be awareness brought to the improvement of the facilitating of these loans instead of the PR Spin of these anemic results.
Craig G. Francis is the owner of Francis Financial and The SBA Loan Store. He has been a top producer of SBA Loans since 1981, and has worked with Dun & Bradstreet and Bank of Commerce. Craig Francis has the expertise to steer clients through the often confusing rules and regulations associated with SBA Loans, having helped over 2,500 businesses acquire over a billion dollars in loans. He can be contacted through CraigGFrancis.com, SBALoanStore.com, onLinkedIn, or at 888-666-9722.