Microfinance Week in Review: Week Ending February 25, 2011
Some of the week’s news in the microfinance, green business initiatives and the small business sector:
- “Small Businesses Weigh Recovery Act” – Wall Street Journal
In the two years since President Barack Obama signed the $787 billion Recovery and Reinvestment Act into law, some small-business owners attribute their companies’ survival to the stimulus package—yet many say the provisions in the 1,100-page law have fallen short of their expectations. Read More
Treasury Secretary Timothy Geithner Tuesday said bank lending is improving for small businesses but remains constrained as community banks continue to repair balance sheets and adjust to new regulations. Read More
- “ACCION San Diego celebrates $15 million in micro-loans” – San Diego Union Tribune
ACCION San Diego, a local micro-lending organization that provides financing and free educational resources to small businesses, announced that it has issued $15 million in loans to San Diego County business owners since it was established in 1994. The nonprofit organization has grown steadily over the past 17 years, and saw a surge in demand during the recession for its loans, which range from $300 to $35,000 and are issued to business owners who lack access to traditional financing. Read More
- “10 essential online tax resources for small businesses” – USA Today
With record-keeping and quarterly payments, tax planning is a year-round event for the small business owner.Tax-related activities, though, inevitably take on a new sense of urgency as April 15 looms near. While tax time can seem overwhelming for the time-pressed small business owner, there are many online tools and forums available to make the process a little easier and stress-free. Here are ten of our favorites…Read More
- “Ten Minutes with an Entrepreneur: Tory Burch” – Tory Burch Blog
Check out this great advice by Tory Burch in spirit of last night’s great Small Business Mentoring Event by the Tory Burch Foundation for ACCION USA’s loan recipients… enjoy!
Microfinance USA Week in Review: Week Ending February 18
Some of the week’s news in the microfinance, green business initiatives and the small business sector:
- Citibank Survey Finds Increasing Optimism Among Small Businesses – Press Release
The majority of the nation’s small business owners believe 2011 will be better than (44 percent) or the same (42 percent) as 2010, with only 15 percent expecting it will be worse, according to the latest Citibank small business survey. Moreover, Citibank’s latest survey shows an increase in entrepreneurs’ optimism about both current and future business conditions, offering a strong indication that after battling through the recession, small businesses are finally poised for growth. Read More
The U.S. Small Business Administration faces a 45 percent drop in funding under President Barack Obama’s budget request after receiving extra funding in economic stimulus legislation. The agency, which supports companies through loan programs and disaster assistance, would get $985 million in the fiscal 2012 plan Obama proposed today, a cut from the spending levels of 2010 supplemented by $962 billion in stimulus funding. Read More
- “Peering into the Peer-to-Peer Lending Boom” – AOL Daily Finance
Peer-to-peer lending, or social lending, refers to financial transactions that occur directly between individuals without the involvement of a traditional financial institution. And it’s not some passing fad. The Lending Club recently announced it had passed $200 million in total loan originations. Not bad for a business that opened its doors in 2007. And it’s just one of many sites such as Kiva.org, Zopa.com, GreenNote.com, and Prosper.com. Read More
- “Boston Beer founder brings loan program to Ohio” – Cincinnati Enquirer
Founder of The Boston Beer Co., Jim Koch, center, was on hand Friday to announce the expansion of the philanthropic Samuel Adams Brewing The American Dream program, in conjunction with ACCION USA, the country’s leading not-for-profit micro-lending organization, and local micro-lending organization Bad Girl Ventures during a press conference held in the brewhouse of the Samuel Adams Brewery in Over-the-Rhine Friday February 11, 2011. The program will provide funding for qualified Ohio applicants of current or aspiring small businesses in the food, beverage and hospitality industry. Read More