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Banks tightened their small-business lending in September after three months in which they approved more loans, a slowdown that could reflect banks' anxiety over the government shutdown.
October 9 -
State and federal regulators appear to be orchestrating a series of actions to force financial institutions and third-party payment processors to stop doing business with certain online consumer installment lenders.
August 22
Paychex and Biz2Credit have teamed up to offer an online loan resource center that gives small-business owners access to capital from more than 1,200 lenders.
Entrepreneurs in search of funds can log onto the Paychex Small Business Loan Resource Center and fill out an application that matches their criteria against a variety of financial institutions. Borrowers can also elect to work with a Biz2Credit loan specialist to get a better understanding of their options. Available financing products include Small Business Administration loans, microloans, commercial real estate loans and business lines of credit.
"Although things have improved since the depths of the recession, it is by no means easy for small-business owners to secure financing today. Through our partnership with Paychex, we can bring options to light that they may not have known existed, or how to gain access to," Rohit Arora, chief executive of Biz2Credit, said in a Wednesday press release. "Biz2Credit helps streamline the process, saving valuable time, effort, and cost in order to get small business owners the best financing options available today."
Paychex, of Rochester, N.Y., provides small and midsize businesses with payroll, human resource, insurance and benefits services. Biz2Credit, founded in 2007 and based in New York, N.Y., matches small and midsize businesses with lenders and service providers.
