The Slow But Steady Boost To Small Business Funding

Written by on May 19, 2011 in Business Insights, Finance And Lending - 2 Comments
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It’s National Small Business Week—in case you missed it—so it’s little surprise that the focus on helping out those companies is intensifying.

Intuit is one of my favorite companies because of their relentless focus on promoting small businesses, something we at Direct Capital value ourselves. But the $1 million they’re offering up is just the penguin-laden tip of the iceberg as far as funding for small businesses goes, even if not all of it comes without strings attached.

Let’s briefly touch on the Intuit efforts. Basically, the “Love A Local Business” grants is aimed at helping small businesses who are struggling to grow in today’s business climate. This isn’t a couple of $500,000 grants for two businesses, but rather small, targeted aid to help those in need complete projects and finish what needs to be done. It’s an admirable goal, and one I hope inspires other large businesses to contribute.

But more importantly for small businesses as a whole, the lending climate is improving and availability of working capital*, equipment finance and franchise finance is growing. We’re seeing that first-hand. Add in today’s news that new jobless claims are down, and you could be forgiven for wearing your rose-colored glasses today.

What’s your reaction to the news? Have you found access to help and capital any easier to come by?

Photo credit to lolo_stock at http://www.sxc.hu/photo/1331234

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*Working capital not available in the following states: AK, DE, ND, VT

2 Comments on "The Slow But Steady Boost To Small Business Funding"

  1. Phanio May 19, 2011 at 6:50 pm ·

    We too value small business. Want to bring back American prosperity it will start with local small businesses who will prop up regional small businesses who will prop up national small businesses.
    While lenders may be looking to improve their lending portfolios for better returns, borrowers, still dealing with the effects of the recession, have not improved. Good to see some movement in lending but this will be a long hill to climb.

  2. Dave Choate May 20, 2011 at 8:57 am ·

    It definitely is a mountain, but given what everyone’s endured over the last few years, any progress is definitely welcome. Thanks for the comment!

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