After keeping the vault door closed tight for the last several years, banks are finally loaning money again.
“With most major banks done reporting fourth-quarter earnings, one trend is clear: For the first time in a while, loan growth is back,” according to a Motley Fool report.
JPMorgan Chase, Citigroup, Wells Fargo, US Bancorp, SunTrust and other banks all report an increase in loan totals.
“A lot of these banks had been paring back on loans for the better part of three years. Not only has that trend turned around, but it’s happened quickly,” Motley Fool says.
This entry was posted in
Economy and tagged banks, Citigroup, Economy, JPMorgan Chase, lending, loans, Motley Fool, SunTrust, US Bancorp, Wells Fargo on . January 24, 2012
Banks continue to make it hard for entrepreneurs to borrow money, but here’s some good news — the U.S. Small Business Administration today announced the extension of a loan program created to help veterans start new businesses.
Patriot Express, a piliot program that has provided more than $560 million in loan guarantees to thousands of veterans, has been extended for three more years, SBA said.
Members of the
Hispanic Chamber of Commerce of East Tennessee now have a new resource to help them grow.
The Hispanic Chamber on Tuesday signed an inter-chamber agreement with the Tennessee Small Business Development Centers that will provide Hispanic business owners free advice on developing a business plan, loans, taxes and other business matters.
Pathway Lending’s work to get capital in the hands of Tennessee’s small business has won international recognition.
The Tennessee Rural Opportunity Fund managed by Pathway earlier this week received an Excellence in Economic Development Award from the International Economic Development Council.
Fox Business News’ stocks editor Elizabeth MacDonald has a not-so-comforting take on General Motors’ television campaign touting the pay back of taxpayer loans.
Read her blog post
The government bailout of automakers GM and Chrysler likely will take years to unwind and cost taxpayers mroe money, MacDonald says.
Despite heated warnings to the contrary, Koxville-based companies Edfinancial and Edamerica will survive and won’t be laying off hordes of employees.
Tony Hollin, chairman and CEO of both companies, said so. It’s right there in today’s
News Sentinel story.
President Obama on Tuesday signed a law that ended the Federal Family Education Loan program in favor of direct government lending.
It should be noted that Edfinancial’s headquarters did not implode and employees did not run screaming for the unemployment office when the president signed the bill.