The Small Business Association might not be searching for a new slogan, but it would do well to consider “get ’em while they’re hot.” The SBA loan, an often-used source of financing for startups of all shapes and sizes, has over the past year become far harder to get. That has slowed business at a… Read more »
Lending
First Market Bank gets $34 million in bailout money
Richmond-based First Market Bank might be in the mood for granting more loans after receiving a $34 million loan from the federal government. On Tuesday, the U.S. Treasury announced it provided 28 banks with $238.6 million as part of the Capital Purchase Program, which is intended to increase lending among healthy banks. First Market Bank,… Read more »
Richmond Banks Still Lending
Some Richmond-area banks are growing pickier about which businesses get financing. With a possible recession on the horizon, banks are extra careful to protect their investments. And there’s less money to lend, bankers say, in part because of fallout from residential mortgages (read: subprime meltdown).