Lending A Moneyed Hand: A July 14 Small Business Roundup

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Once a week, PointBlank will deliver a roundup of small business news and advice from around the nation.

Bank of America Kicking Small Biz Lending Up

In the belated but still important department, we have one of the nation’s largest banks focusing on small business lending. That’s a little like putting a cap on a volcano after it erupts, but whatever.

Essentially, Bank of America has lined up 100 new small business lenders…but only for the state of Texas. On one level, this is great because Texas is a hotbed of small business growth, and continuing that boom in one of the nation’s largest states is great. On another level, why not spread these guys out across the nation? Odd.

Whether this effort bears any significant fruit is yet to be seen, but anything that potentially helps open up lending for small businesses is worth a try.

Better Late Than Never? Maybe Not

Small businesses have been battered by the economic recession, but many are doing a very good job of picking themselves up off the mat in the midst of our gradual recovery. They are now facing a new challenge.

USA Today has an eye-opening look at the way small businesses have increasingly struggled to get their clients to pay them back on time. What used to be 30 day payments, the article says, are now stretching into multiple months. That’s making it harder for businesses to keep up with their own payments.

Does this mirror difficulties you’re facing in your own business?

BizLease A Help For Financing

Over at BizEngine, we hit on discovering how blogs can fit well into your marketing strategy. Check the post out to learn more from a guy who does an awful lot of blogging (this guy!)

Other Useful Links

Helping small businesses get back online

Ten ways to grow your business during the summer

Please suggest your own links in the comments! Thanks for reading.

Photo credit to manjides at http://www.sxc.hu/photo/800221

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