Small business lending slashed by $43 Billion-Are you prepared to start your business?

Recently, it was reported that banks cut small business lending by $43 billion. While the federal government infused small business lending with the $30 billion Small Business Jobs Act, this was only granted to banks with less than $10 billion in assets. The SBA assumes commercial loan amounts under $1 million went to small businesses.You may be asking yourself "How does this affect me?" Many individuals have tried braving the job market and realized that maybe they need to market themselves to a larger audience. They have decided to start their own business. Remember if larger banks are reducing lending, smaller banks may be your best be. You must be ready to answer that call. Starting a business takes a lot of time and preparation. Do your research on the service or item you want to provide.  Take the time to write a business plan. Make sure you are credit worthy before you try to obtain a small business loan or lease office space.  If you have these items covered, great! If you need assistance or referral contact us at www.freshstartconsumercare.com

Source: Fresh Start Consumer Care, LLC