SBA Rates and Small Business Commentary For Feb. 4, 2014 From Liberty SBF
In President Obama’s State of the Union speech he made sure to touch on small businesses in America. Some say that he didn’t talk enough about the engine that produces half the jobs in the United States. Others took to making sure the POTUS wasn’t fudging the numbers. Bob Coleman of the Coleman Report was quoted by ABC News fact-checking the president.
While Coleman said that the POTUS was right that during his administration, small business lending was up in terms of dollars lent, when looked at through the lens of pure numbers of loans, it fell short. Although Coleman said people have to remember that the lenders who made those loans “lost their shirt and cut off their small loan program when the recession hit.”
On NFIB.com, they said that the president’s proposals will hurt small businesses because they focus on corporations. “Unfortunately, the President again chose to champion big business, special interests, and partisan causes,” (NFIB) Chief Economist William Dunkelberg is quoted in a statement.
Paychex, the business payment company, weighed in also with a statement outlining seven policy initiatives from the State of the Union speech that could affect small businesses. You can read them here.
Over at Bloomberg the question is if the Volker Rule will help small businesses? The Volker rule was finalized last December and because it will limit banks from making risky bets with their deposits, a factor in the bank bailouts of 2008. This rule may encourage banks to seek out more of the traditional lending streams, including small business lending that banks all but left behind.
Social media has a major impact on business today whether it’s through marketing, promotions or crisis management. The SBA is offering a free webinar on Feb. 11 called “Social Media and Disaster Recovery” to help businesses develop strategies for crisis communications. Click here for more information.
Small Business Administration (SBA)
Rate Sheet 2/4/2014
Liberty SBF directly funds Owner-Occupied Commercial Real Estate Loans up to $13M.
3.25% | WSJ PRIME FLOATING RATE
4.18% | 5-YEAR LIBOR SWAP FIXED RATE
For more information on SBA loans click here.