Are you ready for some progress on the small business lending front? Could good things actually start to happen for future small business owners? Are we going to turn a corner?
Dude's turning a corner. Are we?
I'm so ready. I'm sick of hearing the same old tired stories. There actually was a small business lending bill signed last September, you know. There's money available.
We all agreed on this; it's still going to be challenging, but things are starting to look up.
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Jeff Elgin –"I heard that a handful of SBA guaranteed loans (under $150,000) were granted in the fourth quarter of 2010. “We haven’t seen one of those since the fall of 2008.”
Ronald Feldman -“The application package is probably the biggest hindrance to getting loans approved for new franchisees.”
Edith Wiseman – "Banks are more liquid. This should help make it easier. However, while there are positive signs in the economy, the data isn’t strong enough to ease credit standards.”
I talked about the increase in "conversion franchises." More and more independent business owners are exploring the option of turning their businesses into a franchise business. It's a heckava lot easier to obtain financing, if you're approaching your friendly neighborhood banker with an already cash-flowing business. Right?
Go to AllBusiness.com and see what else we shared about the prospects of obtaining franchise financing this year. And good luck!