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09-08-2012, 01:08 AM #1
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- Sep 2012
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banking grades
Two interesting things in this article to get the conversation going:
What we found was that the aggregate total of such lending for the 13 banks has actually declined by more than $2 billion over the last 12 months. For example, Wells Fargo reported that that its less-than-$1 million loans are down by more than $2.3 billion over the last 12 months. Bank of America’s total for such loans is down by more than $560 million.
and
Using this methodology has raised objections. In a recent blog post, the financial services roundtable cited its opposition to our banking grades by noting, among other things, that big companies sometimes have loan balances that fall below $1 million.
Everyone should check out banking grades: http://www.multifunding.com/bank-search/
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09-11-2012, 03:40 PM #2
I think this bankinggrades concept is really cool, its really putting these banks to the test. they keep touting about what there doing for small business, the really its very little. are they funding Joe bagel across the street with poor credit. "No". You know under there guideline small means $3mm in revs, come on that's not your average business in America.
years since the credit crunch, and still they haven't figured it out.
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10-05-2012, 02:29 PM #3
another article by the same guy:
"At the same time, credit at reasonable prices remains as tight as can be for companies without pristine credit, cash flow and collateral. As a result, the merchant cash advance and factoring industries are flourishing, and charging small-business owners exorbitant rates."
http://boss.blogs.nytimes.com/2012/1...talking-about/
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10-11-2012, 05:56 PM #4
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- Sep 2012
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the interesting thing about Ami is that he is truly a merchant advocate. You can see that from his blogs in NY Times