Accion Weekly News Roundup: August 9, 2013

Accion News:

Getting business loans a struggle for SA minorities

My San Antonio

After 27 years working as a stylist in other peoples’ salons, Monica Prater finally decided last year to open her own shop. She scoped out a good location — the building of a former thrift store on Nogalitos Street just east of Interstate 35. She worked nearby and knew the area. It wasn’t the nicest part of town, but the asking price for the property was reasonable. Still, she would need a loan to get her salon up and running.

ARIAN GONZALES: Tenacity, marketing skills help grow family business

ABQ Journal Sage

Arian Gonzales reached a career crossroads when her daughters headed for college more than a dozen years ago. “My daughters were growing up and moving on,” recalls Gonzales, 55, of Albuquerque. She had some time to think about herself. “So I asked myself, what did I really want to do?” She was working in corporate marketing for environmental and architectural engineers but had always dreamed of being an entrepreneur. “I was always ambitious. I always outsold everybody, even when I was selling Girl Scout cookies.”

Microloans increasing in popularity for Florida small businesses

CPA Practice Advisor

Green Grease Biofuels Inc. envisions money to be made in collecting cooking oil from Jacksonville, Florida, homes for conversion into biofuels. Other companies collect cooking oil from restaurants, but branching out with curbside collection of grease used in residential kitchens isn’t an easy concept to pitch to bankers for a traditional loan.

With $1M from the city, more entrepreneurs can find funding

Chicago Grid

Lillia Key was in a bind. For 21 years, she’s run Lenore’s Kitchen, a catering business in the Marquette Park neighborhood. Her company does plenty of work with CPS, the city of Chicago and other public entities that don’t pay until well after she’s completed the contract — sometimes upward of 45 days later.

Industry News:

Biz2Credit Small Business Lending Index for July 2013 Reports Jump in Big Bank Approval Rates and the End of the Credit Union Slide

Biz2Credit

Small business loan approvals at big banks ($10 billion+ in assets) jumped to an all-time index high of 17.4% in July 2013 from 16.9% in June, according to the Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan applications on Biz2Credit.com. Further, in a year-to-year comparison, big bank approval rates have increased by more than 50 percent.

White House Launches Health Care ‘Web Wizard’

Inc.

Got a question about Affordable Care Act? Now there’s a government website dedicated to answering the questions of business owners.

Officially launched on Thursday as part of BusinessUSA, a little-known platform that provides businesses with easy access to government services, the new site helps owners understand what they need to know about new insurance options and other ACA changes.

Your comment

Your email address will not be published. Required fields are marked *