Credit Standards, Loan Covenants, and Rate Spreads Eased in Q2
As banks saw increased competition for commercial & industrial lending, credit standards began to ease in the second quarter, according to the Federal Reserve. Of the senior loan officers surveyed in July, 12.5% indicated a relative easing of credit on large and middle-market borrowers (revenues in excess of $50 million), and 14.5% indicated a relative easing of credit for smaller firms, the first time credit standards have eased for small firms since 2006.
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Lending Falls at Epic Pace – WSJ
U.S. banks posted last year their sharpest decline in lending since 1942, suggesting that the industry’s continued slide is making it harder for the economy to recover.
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SBA 7(a) Loan Program: An Overview
The 7(a) Loan Program is SBA’s primary program for helping start-up and existing small businesses to secure up to $2 million of bank financing.
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SBA 504 Loans: An Overview
The SBA 504 Loan program is designed to provide small businesses with low-cost debt financing of up to $1.3 million for the purchase of property, plant and equipment.
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