Small business loans continue to dry up at the nation's biggest banks. Eleven top TARP recipients -- including Wells Fargo, by far the nation's largest lender to small companies -- cut their collective small business loan balance by more than $2.3 billion in December, according to a Treasury report released late Tuesday.
The drop marked the eighth consecutive month of declines for the 11 banks. In that time, their total loan balance has fallen 7%, to $169.4 billion. Seven of the reporting banks have cut their small business loan balance every single month.
-NEW YORK (CNNMoney.com)
Tight credit chokes job creation:
While the credit crunch has eased for large business, it remains a bottleneck for most small and mid-sizebusinesses. Without access to capital, small companies struggle to finance their daily operations and expansion plans.
This has created a need for alternative financing sources in the industry. When needs arise in the market leaders step up. Two leaders have stepped to the plate and bridged the gap that many businesses need.
Right Business Services is a national consulting firm made up of entrepreneurs who know what it is like to be in a business owner’s shoes. We have experience, knowledge and expertise in small business financing; thereby helping business owners obtain the working capital they need to grow their business. RBS partners with reputable companies to bring other valued added services and products to help businesses become more successful and financially sound.
The owners of Right Business Services bring over 50 years of combined experience in sales, marketing and finance. Chris has been self employed since the age of 15 and has extensive experience in sales and motivation. Wanda has been in the financial sector for approximately 30 years with experience such as VP of lending for large financial institutions as well as over 15 years of sales and marketing experience. Chris and Wanda began working together as independent agents in the travel industry in 2008 They quickly recognized they both shared the same values in life, as well as business, and joined forces in April 2009 as business partners. Together they make a dynamic team with a strong desire to help others become successful. They are continuously looking for ways to improve the business and ways to add additional products and services that will help business owners across American thrive.
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