Getting Small Business Loans
Fine-tuning your small business loan
- Duration 4:58
- Date Feb 22, 2012
Fine-tuning your small business loan
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To LA right Los Angeles ramp up call.
US have found I -- pregnant publishing -- grade how -- I'm doing fine thank you for having me we're talking about the small businesses today apparently.
They've got a lot of gripes yes all right so it.
You have to have.
It it's unfortunate to.
You know not to pile -- -- president Obama's State of the Union Address -- -- to small businesses once the so what's for two words.
It -- -- -- thing right now is we olive Green Detroit is coming back we'd like that that's good it's robust.
But if main street received a 113 thousand dollar tax Payer.
-- -- -- They need to doing pretty robust -- now I'm -- ninety by understand we can't do that it's these economy but there's really disconnect between what we're doing for the big boys.
And what we're doing for main -- and what it in its toughest moment.
The disconnect is there's no support any something -- my -- as he SBA lending program which is doing a lot of great work.
That the banks are able land for for a small business.
But they're not really lending -- -- By the -- -- well.
It the banks aren't lending -- -- fuel supply and demand question.
When there is appropriate in setting that we had a little stimulus program.
The banks got a 90% guarantee he got the regulators -- back guess what banks lent money those went away and now we're back to.
Pre recessionary levels -- If you have a good concept you can get financing.
But it is tough is just so much harder for main street than it is for Wall Street or for Detroit that's my point.
Obama's Small Business Administration.
Budget of sixteen million dollars was announced last week yeah that's down from nineteen billion last year.
What is the main reason for that three billion dollar deduction in the matter of a year.
The supply and demand you talk to the bankers my client's they're saying hey Bob we just don't have enough quality people walking -- through the door.
Excuse me you -- -- main street and their situation is.
We're a little conservative.
We we we want to be prudent in today's environment.
People are being debt adverse.
You mentioned Greece we simply don't wanna be Greece we want to be prudent and what we're doing so -- main street entrepreneurs it's tough.
They need to have the capital but access and -- they have good concepts they can do it.
But is awfully tough to go out there we'll get those loans so -- Just from business owner do right now.
Just gonna hand east -- and arts in education.
No no no no no no I.
There are always opportunities.
To be the best that you -- be in your niche.
Go out there in refi in your plans change your plan.
There are a lot of success stories out there.
But it's not eat and what are some success stories is there anything we might have heard of meaning more Nash there's there's a little franchise after called Panera Bread little -- an alliance an -- -- yeah.
Yeah -- us but.
But there was -- moment pop mom could pop by those franchises and open -- all throughout the country.
-- itself they're doing well the lenders like -- they're doing well.
There's a lot of wonderful stories like -- amid the doom and gloom so yeah it can be done it can be done.
OK and then also run a husband and you're talking points hearing -- -- senate Dodd-Frank.
Dodd-Frank bill is an intrusion on small business -- How is that that's sort of this he -- that's sort of the storm cloud on the horizon.
We all agree we don't want discriminate territory practices we want fair rates we -- transparency.
The problem is if you extend those Dodd-Frank provisions that you have in the mortgage industry -- actually commodity.
-- -- -- it took -- to -- thousand dollar mortgage in Omaha.
We know what that is but then if you have a two to 50000 dollar small business loans at -- cupcake.
Factory or Sally is auto mechanic those are two completely different -- -- they're completely custom items.
-- I I I shudder.
To think that the type the regulations that may be coming down that could really be independent -- 22.
Small business clinic now.
We don't know what the regulations are we know that they're being -- -- -- and there's the black box is just something that's on the horizon and I certainly hope it's not.
You know we -- -- have an environment where we did -- Capital of the main street we need more than sixteen billion dollars and SBA's programs right and we need to make it easier for the entrepreneur.
People ask her to get out of this receipt.