Financial Loans for Small Business

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George Osborne is desperate to inject ever more life into the housing market, bringing forward the second stage of the government's Help to Buy scheme to encourage mortgage lenders to pump more credit into home loans.

But the chancellor seems to have been distracted from any parallel efforts to breathe life into the small business sector, which five years on from the financial crisis is still feeling neglected.

Data from the Bank of England published on Monday showed mortgage approvals at their highest levels since February 2008 – but also showed lending to businesses fell by £3.8bn in August, in the sharpest drop since last December.

As Howard Archer of IHS Global Insight puts it, this is "a blow to hopes that lending to business is starting to pick up after a rare increase of £466m in July".

Within the small- and medium-sized (SME) sector, lending fell by £678m in August after an £893m drop the month before. These decreases come despite the funding-for-lending scheme (FLS): cheap money for banks that was supposed to make it easier for lenders to pass on cheaper loans to businesses and households.

The FLS may have stopped credit being sucked out of the economy as quickly as it was in the immediate aftermath of the crisis, but it has failed, so far, to inject any extra fuel into the small businesses – the businesses that account for six in every 10 jobs in the private sector.

There is less lending than in the past to the commercial property sector, which at times accounted for as much as 40% of lending. This could help account for the declines, but business groups say more could be done. The British Chambers of Commerce put it most succinctly, using the latest figures to declare: "Britain's business finance system remains broken."


2008-07-13 13:54:05 by womanowned

Help for a small business

A friend of mine told me about a program that helps existing small, self proprietory businesses through the rough times, with loans or grants, but she couldn't remember the name of it. I was hoping one of you would know. She thinks that my being a woman would also help the situation.
I have had a small business for ten years, but with the way the economy is going, and the fact that I was in the hospital last year, everything has been going downhill. My business is unique, and my customers don''t want me to close, but I don't know where to turn for help. I've already given up my home, which saves me a bundle in rent, but it's not quite enough

2011-02-15 00:07:12 by 58andfixed

Federal Home Loan Banks


... provide stable, on-demand, low-cost funding to American financial institutions for home mortgage loans, small business, rural, agricultural, and economic development lending. With their members, the FHLBank System represents the largest collective source of home mortgage and community credit in the United States.
The banks do not provide loans directly to individuals, only to other banks.
As of July 16, 2009, 11 of the 12 FHLBs were reported to have met their capital requirements by the Federal Housing Finance Agency and the FHLB System as a whole is well above its minimum capital requirements

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