| VTB 24 boosts small business loan portfolio
RBC, 24.07.2007, Moscow 17:04:38.VTB 24's small business loan portfolio has increased 53 percent since the start of the year to $1.2bn as of the end of June, the Russian bank said in a statement. VTB 24 provided 4,377 credits to small businesses, bringing their total number as of July 1 to 13,475, including 1,132 in Moscow, 842 in the Moscow region, and 11,501 in Russian regions. Between January and July, the bank opened 13 new small business credit outlets in the regions, raising their overall number to 83. Ten latest news Other news .
Freedom Bank Expands Its Commercial Loan Department
He stated: "Consistent with the substantial amount of capital raised earlier in the year, this expansion follows the Board of Directors desire to expedite the growth of the Bank s loan portfolio.
Executive Vice President & Chief Lending Officer, Craig S.
Underhill, joined the bank in March.
He is now joined by Jeremiah D.
Behan, Senior Vice President, Real Estate Construction; Gregory Montgomery, Senior Vice President, Government Contracting and Henry L.
Finch, Senior Vice President and Relationship Management Officer." Each of these bankers has over 20 years in lending and they are committed in providing small businesses, professionals, developers, contractors, and local residential home builders, a convenient source of financing to include business loans and lines of credit, real estate acquisition, construction and development loans, and real estate mortgage loans.
Thorough planning can make difference when seeking loan
Arizona small businesses took out $1.1 billion in loans backed by the Small Business Administration last year. That doesn't include commercial loans and other types of financing. But before you start thinking bankers are just handing out the green stuff, remember there are 400,000 small businesses in the state, all competing for more or less the same pool of money. If you want some of it, there are things you should do to maximize your chances of getting a loan before you set foot in a bank. .
Payday lenders lose interest in Oregon
Scores of Oregon payday and car title lenders have closed their doors as a 36 percent interest rate cap and other new regulations took effect last week. Gone are the 520 percent annual interest rates that were common among payday lenders before the Legislature recently passed new regulations. Gone, too, are many of the lenders. But among those who remain, borrowers will find their small, short-term loans cost about a third of what they cost before. At least 60 payday loan stores have closed or surrendered their licenses since June 1, says Charles Donald, supervising examiner at the state Department of Consumer and Business Services. Luanne Stoltz left a 20-year career as a high school math and science teacher years ago to open two payday stores in Portland.
Few takers for National Insurance Fund (NIF) loan
There is no apparent eagerness on the part of small businesses to access funding from the billion-dollar loan scheme being offered by the Government through a drawdown from the National Insurance Fund (NIF). Last year, Prime Minister Portia Simpson Miller announced that $1 billion would be made available through the NIF to assist small companies with capital. But checks made by The Gleaner with participating financial institutions, which are disbursing the funds, indicate that not many persons are capitalising on the opportunity. At least two participating financial institutions told The Gleaner that the scheme has been "slow" in taking off. According to Pamela McLean, head of the National Export-Import Bank of Jamaica (Ex-Im Bank), the institution had only used up $5 million of its first tranche, approving only four applicants.
Banco Popular's Popular Small Business Capital Division Expands ...
CHICAGO, July 24 /PRNewswire/ -- Popular Small Business Capital (PSBC), a division of Banco Popular North America (BPNA), one of the nation's premier community banks and a leading U.S. Small Business Administration Lender, today announced adding nine Business Development Officers and four additional team members for operational support. Additionally, PSBC appointed Nancy O. Watt, as a SBA Regional Sales Manager, Mid-America region. The expansion follows Banco Popular's continued growth of its U.S. SBA lending business. As of June 30, 2007, Banco Popular, through its 146 branch network and the efforts of PSBC, ranks in the top five in Los Angeles, New York and New Jersey for U.S. SBA Loan volume. In the U.S. SBA's South Florida District, Banco Popular ranked 3rd for number of loans and number one for dollar volume.
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