This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

3 Things You Should Know About Small Business: April 3

NEW YORK ( TheStreet) -- What's happening in small business today?

1. Small Business Lending Fund boosts loans by $1.5 billion. Banks receiving capital through the Small Business Lending Fund boosted lending by $1.5 billion in the first quarter vs. the prior three months, the seventh straight quarter of increases and the second highest since the start of the program in 2010, the Treasury said.

In total, SBLF participants have increased small-business lending by about $8.9 billion since the depths of the recession in 2009. This increased lending represents an estimated 38,000 additional small business loans over baseline levels, according to Treasury.

"In every region of the country, the Obama Administration's Small Business Lending Fund is supporting small and family-owned businesses with the funds they need to create jobs and grow," Deputy Secretary of the Treasury Neal Wolin said in a release. "This quarter's report shows that SBLF participants are continuing to help thousands of small businesses invest, hire and expand in their local communities."

The SBLF was established as part of the Small Business Jobs Act that President Obama signed into law in 2010. The fund encourages community banks to lend to small businesses by providing capital to the banks at reduced terms. The dividend or interest rate a community bank pays on SBLF funding is reduced as the bank increases its lending to small businesses -- providing a strong incentive for new lending to small businesses so that these firms can expand and create jobs, Treasury says. More than $4 billion has been invested in 332 institutions through the SBLF.

As of Dec. 31, 2012, the average rate paid by community banks on SBLF capital was 1.8%. Individual community banks can reduce the rate they pay to 1% if they increase qualified small-business lending by 10% over their baseline.

2. Half of small-business owners are looking to invest this quarter. Small business owners are split on their outlook for 2013, Inc.com says. Half said they plan to invest in things like marketing, technology and hiring in the second quarter, according to the latest SurePayroll Small Business Scorecard, which surveyed nearly 40,000 small business owners on their hiring and expansion plans this year.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $124.23 0.69%
GOOG $556.24 -0.46%
FB $83.05 0.16%
YHOO $44.50 0.68%
TSLA $190.14 -2.10%

Markets

DOW 17,691.88 -26.66 -0.15%
S&P 500 2,058.81 -2.24 -0.11%
NASDAQ 4,866.6760 -9.8430 -0.20%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs