|Have you had luck securing small-business financing? We want to hear from you.|
President Obama last week proposed that Congress pass two temporary expansions of Small Business Administration lending programs. One would include supporting refinancing for owner-occupied commercial real estate loans. The other would increase SBA Express loan sizes to $1 million.The Wall Street Journal reports that Ohio-based Huntington Bancshares, for example, plans to double its small-business lending over the next three years by hiring bankers to specifically sniff out small businesses that previously might not have qualified for credit. The bank’s CEO says the initiative could reach as many as 27,000 businesses in the bank’s Midwestern markets.
SEMA wants to hear from you, our industry peers. Have you had success finding and qualifying for small-business loans? Have you had positive experiences with specific lenders? Are the purse strings beginning to loosen, or are you still searching for credit? Please let us know using the comments box below.