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Small Biz Lending: Bank Failures

MSNBC's Your Business 04:47

1 Comment

March 21, 2010

192 banks have failed since 2008 and as a result, there’s new concern that the cost of borrowing could go up, making it too expensive for small business owners to get a loan. Greg Clarkson, executive vice president of BBVA Compass, Jennifer Hill, vice president of Astia, and Gene Marks, president of the Marks Group, talk about entrepreneurs and their continuing struggle for funding.

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  • Marc Spangenberg 2 years 2 months and 6 days ago

    Marc Spangenberg

    SBA lending involves using real estate as collateral in some form. If the business does not have real estate or maybe it's already mortgaged, consider monetizing your Accounts Receivable into a credit line that can be used for whatever purpose you want. For less than the cost of accepting credit cards, a business can outsource the A/R and have their customer's credit monitored and insured. Many businesses are sitting on A/R and don't realize that it is a great source of funding.

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