Here are some of the top business loan news for the first week of September 2023:
- Mortgage rates continue to rise. The average rate on a 30-year fixed mortgage was 7.09% as of August 2, according to Bankrate’s weekly national survey of lenders. This is up from 6.38% a month ago and 3.11% a year ago. The rising mortgage rates are making it more expensive for homebuyers to finance their purchases.
- Small business grants available for moms. Lowe’s Companies Inc. is offering $10,000 grants to mothers who are entrepreneurs. The grants are part of the company’s High Five Grantor Moms program, which also includes mentoring and shopping credits. The deadline to apply is September 30.
- SBA launches new loan program for minority-owned businesses. The Small Business Administration (SBA) has launched a new loan program to help minority-owned businesses. The program, called the SBA Microloan Program, offers loans of up to $50,000 to businesses that are owned by African Americans, Hispanics, Native Americans, and other minorities.
- Banks tighten lending standards for small businesses. As the economy continues to slow, banks are tightening their lending standards for small businesses. This means that it is becoming more difficult for small businesses to get the financing they need to grow.
- Small business owners are facing challenges accessing capital. The rising cost of borrowing, tightening lending standards, and economic uncertainty are all making it more difficult for small business owners to access capital. This is a major challenge for small businesses, as they rely on capital to grow and expand.
These are just a few of the top business loan news for the first week of September 2023. If you are a small business owner, it is important to stay up-to-date on the latest lending trends so that you can make informed decisions about your business financing.
Business loan news is a general term that refers to any news related to business loans. This can include news about new loan programs, changes to existing loan programs, or updates on the lending environment. Business loan news can be a valuable resource for small business owners who are looking for financing.
Here are some examples of business loan news:
- The Small Business Administration (SBA) announces a new loan program to help small businesses affected by the COVID-19 pandemic.
- A bank announces that it is increasing the interest rates on its business loans.
- A credit union launches a new online application for business loans.
- A government agency releases data on the lending environment for small businesses.
Business loan news can be found in a variety of sources, including newspapers, magazines, websites, and financial newswires. You can also subscribe to email alerts from the SBA and other organizations that track small business lending.
It is important to stay up-to-date on business loan news, as it can help you make informed decisions about your financing options. By understanding the latest trends in the lending environment, you can be better prepared to secure the financing you need to grow your business.
Here are some tips for staying up-to-date on business loan news:
- Subscribe to industry publications. There are a number of publications that focus on small business lending. These publications can be a great way to stay up-to-date on the latest news and trends.
- Follow industry experts on social media. Many industry experts, such as bankers and accountants, use social media to share news and insights about small business lending.
- Sign up for email alerts. Many organizations that track small business lending offer email alerts that can keep you informed of the latest news.
- Attend industry events. Industry events are a great way to learn about new loan programs and meet with lenders.
By following these tips, you can stay up-to-date on business loan news and make informed decisions about your financing options.
- Biden-Harris Administration Launches Small Business Loan Program Improvements to Expand Access to Capital
- More Than $200 Billion in Federal Aid to Small Businesses During the Pandemic May Have Been Given to Fraudsters, Report Finds
- What to Expect in 2023 for Business Loans: Rising Interest Rates and Tightening Credit Availability
- Equitas Small Finance Bank to Venture into Credit Cards, Personal Loans Segment
- Lenders Can’t Levy Penal Interest on Loan Accounts from January 1: RBI
These are just a few examples of the many business loan news stories that are published each day. By staying up-to-date on business loan news, small business owners can make informed decisions about their financing options.
Here are some of the things you can learn from business loan news:
- New loan programs that may be available to your business.
- Changes in lending regulations that could affect your ability to get a loan.
- Trends in the business lending market, such as rising interest rates or tightening credit availability.
- Tips for getting approved for a business loan.
- Stories about other businesses that have used business loans to grow their businesses.
By staying informed about business loan news, you can increase your chances of getting the financing you need to grow your business.tuneshareGoogle itmore_vertadd_circle