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Small Business Loan Approvals Dropped at Big Banks, Rose at Small Banks and Alternative Lenders in October 2023: Biz2Credit Small Business Lending Index™

Retrieved on:

Wednesday, November 8, 2023

Biz2credit, Bureau of Labor Statistics, Small business, SBA, Employment, Government, Jobs, Bank

NEW YORK, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Small business loan approval percentages at big banks ($10 billion+ in assets) decreased again from 13.1% in September to 13% in October, according to the latest Biz2Credit Small Business Lending Index™ released today.

Key Points:

NEW YORK, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Small business loan approval percentages at big banks ($10 billion+ in assets) decreased again from 13.1% in September to 13% in October, according to the latest Biz2Credit Small Business Lending Index™ released today.
As expected, acquiring a small business loan from a big bank has become increasingly more difficult with every passing month,” said Rohit Arora, CEO of Biz2Credit and one of the nation’s leading experts in small business finance.
“Small business owners are having better success with smaller banks and/or alternative lenders.”
After a slow start in 2023, small banks approval percentages rose from 19.3% in September to 19.5% in October, marking an increase every month since June 2023.
To determine its Small Business Lending Index, Biz2Credit analyzed loan requests from companies in operation for more than two years with credit scores above 680.

UMD Smith, Montgomery College Initiate Pathway to a Business Analytics Masters

Retrieved on:

Monday, October 30, 2023

COLLEGE PARK, Md., Oct. 30, 2023 /PRNewswire/ -- A Montgomery College student cohort has embarked this fall on a unique pathway to a Master of Science in Business Analytics (MSBA) degree from the University of Maryland's Robert H. Smith School of Business to meet a growing demand for the likes of operations researchers, data analysts, business analysts, analytics directors and chief analytics officers.

Key Points:

COLLEGE PARK, Md., Oct. 30, 2023 /PRNewswire/ -- A Montgomery College student cohort has embarked this fall on a unique pathway to a Master of Science in Business Analytics (MSBA) degree from the University of Maryland's Robert H. Smith School of Business to meet a growing demand for the likes of operations researchers, data analysts, business analysts, analytics directors and chief analytics officers.
Twenty-three of 50 students in this Smith master's track already are declared majors under the Rockville, Md.-based community college's new Associate of Arts in Business Analytics program.
Pending admission to Smith's undergraduate and master's programs, students will complete the undergraduate major in Operations Management and Business Analytics followed by the MSBA.
"It's a very clear and defined pathway to the Smith School," says Montgomery College (MC) Accounting Coordinator and Business Analytics Advisor Kathryn Klose, PhD.

Riaz Capital Recognized as Oakland Developer of the Year

Retrieved on:

Wednesday, October 25, 2023

JHC, San Francisco Bay Area, Housing, Jobs, Face, United House Developments, Green affordable housing, Quality of life, National Low Income Housing Coalition, Economic development, Developer, Film industry

OAKLAND, Calif., Oct. 25, 2023 /PRNewswire/ -- Leading workforce multifamily specialist Riaz Capital, a pioneer of quality affordable housing for moderate-income professionals in the Bay Area, has been awarded Developer of the Year by the Oakland Jobs and Housing Coalition (JHC).

Key Points:

Pioneering Affordable Moderate-Income Housing Developer recognized as Developer of the Year by the Oakland Jobs and Housing Coalition.
OAKLAND, Calif., Oct. 25, 2023 /PRNewswire/ -- Leading workforce multifamily specialist Riaz Capital , a pioneer of quality affordable housing for moderate-income professionals in the Bay Area, has been awarded Developer of the Year by the Oakland Jobs and Housing Coalition (JHC).
In 2024, Riaz Capital will reach a new milestone by delivering 470 units in Oakland.
"We are honored to be recognized as Developer of the Year by the Jobs and Housing Coalition," said Riaz Taplin, Founder & CEO of Riaz Capital.

Business Loan Approvals at Big Banks Continue to Drop, While Other Lenders Increased in July: Biz2Credit Small Business Lending Index™

Retrieved on:

Tuesday, August 8, 2023

Bureau of Labor Statistics, Insurance, Small business, Unemployment, Jobs, Federal, SMB, Biz2credit, SBA, Bank

NEW YORK, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Small business loan approval percentages at big banks ($10 billion+ in assets) dropped from 13.4% in June to 13.3% in July, according to the latest Biz2Credit Small Business Lending Index™ released today.

Key Points:

NEW YORK, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Small business loan approval percentages at big banks ($10 billion+ in assets) dropped from 13.4% in June to 13.3% in July, according to the latest Biz2Credit Small Business Lending Index™ released today.
Since then, however, small business loan approvals have fallen steadily.
“There are several reasons for the recent decline in small business lending at big banks,” said Rohit Arora, CEO of Biz2Credit and one of the nation’s leading experts in small business finance.
To determine its Small Business Lending Index, Biz2Credit analyzed loan requests from companies in operation for more than two years with credit scores above 680.

Emerson Collective Health Spins Off to Form New Investment Fund, Yosemite; Announces First Close of Oversubscribed $200M+ Fund to Accelerate Transformative Cancer Ventures

Retrieved on:

Tuesday, August 1, 2023

Therapy, Partnership, Rockefeller University, Cancer, Like a Boss (film), Jobs, Research, Emerson Collective, Investment, Patient, SAN, Institutional Limited Partners Association, MSK, Memorial Sloan Kettering Cancer Center, Pharmaceutical industry, Yosemite National Park

SAN FRANCISCO, Aug. 1, 2023 /PRNewswire/ -- Today, Yosemite announced it has launched as a new standalone entity, spinning off from Emerson Collective to form an independent investment firm focused on opportunities across the oncology ecosystem—the new fund launches with an oversubscribed first close of $200M+. Yosemite will deploy a differentiated strategy that employs both grantmaking and venture investing as a catalyst for scientific breakthroughs to become viable cancer patient solutions.

Key Points:

Yosemite partners with leading researchers and entrepreneurs working to make cancer non-lethal within our lifetime.
Since 2015, Emerson Collective Health has been breaking down silos to reach its goal of making cancer non-lethal in our lifetime.
In spinning off as an independent fund, Yosemite offers a tailored focus on its proven model of creative collaboration.
Going forward, Yosemite will manage the Emerson Health legacy portfolio (ECI Health Funds) as an investment advisor.

University of Phoenix President Chris Lynne and Jobs for the Future (JFF) Lucy Fernandez Join “It Happens at STN” Discussing Partnership on Professional Social Capital for Black Learners and Workers

Retrieved on:

Thursday, July 13, 2023

“We learned from our 2021 Career Optimism Index® study that half of American workers don’t have an advocate in their professional life,” states Lynne.

Key Points:

“We learned from our 2021 Career Optimism Index® study that half of American workers don’t have an advocate in their professional life,” states Lynne.
“Professional social capital opens doors and is immensely important to busy, working adult learners like our students to be successful in their careers and goals.
As a career-focused university, our work with JFF is a natural fit for our mission.
The partnership began by launching an in-depth market scan conducted in 2022, analyzing existing strategies for the development of professional social capital that are being implemented by community-based organizations, postsecondary institutions, non-profits, and employers.

Business Loan Approvals Increase Slightly in June: Biz2Credit Small Business Lending Index™

Retrieved on:

Tuesday, July 11, 2023

Bureau of Labor Statistics, Human, Small business, Unemployment, Travel, Tourism, Bureau, Jobs, Government, Employment, Biz2credit, Restaurant, Credit, Hand, Insurance

NEW YORK, July 11, 2023 (GLOBE NEWSWIRE) -- Small business loan approval percentages at big banks stayed at 13.4% in June, according to the latest Biz2Credit Small Business Lending Index™ released today.

Key Points:

NEW YORK, July 11, 2023 (GLOBE NEWSWIRE) -- Small business loan approval percentages at big banks stayed at 13.4% in June, according to the latest Biz2Credit Small Business Lending Index™ released today.
This also increases the chances of the economy slipping into recession,” said Rohit Arora, CEO of Biz2Credit and one of the nation’s leading experts in small business finance.
To determine its Small Business Lending Index, Biz2Credit analyzed loan requests from companies in operation for more than two years with credit scores above 680.
The results are based on primary data submitted by more than 1,000 small business owners who applied for funding on Biz2Credit’s platform.

Business Loan Approvals Stall Again in May: Biz2Credit Small Business Lending Index™

Retrieved on:

Tuesday, June 6, 2023

Bureau of Labor Statistics, Fed, Small business, Bureau, Jobs, Government, Biz2credit, SBA, Transport, Credit, Total, Bank

NEW YORK, June 06, 2023 (GLOBE NEWSWIRE) -- Small business loan approval percentages at big banks dipped from 13.5% in April to 13.4% in May, according to the latest Biz2Credit Small Business Lending Index™ released today.

Key Points:

NEW YORK, June 06, 2023 (GLOBE NEWSWIRE) -- Small business loan approval percentages at big banks dipped from 13.5% in April to 13.4% in May, according to the latest Biz2Credit Small Business Lending Index™ released today.
The banks are getting hit on both sides of the equation, so they are not lending,” said Rohit Arora, CEO of Biz2Credit and one of the nation’s leading experts in small business finance.
“We can expect that the cost of capital will continue to rise for small business borrowers.”
To determine its Small Business Lending Index, Biz2Credit analyzed loan requests from companies in operation for more than two years with credit scores above 680.
The results are based on primary data submitted by more than 1,000 small business owners who applied for funding on Biz2Credit's platform.

Statement from the GREATER MSP Partnership on the passage of Minnesota’s Jobs, Economic Development, Labor, and Industry Finance Bill (HF3028/SF3035)

Retrieved on:

Thursday, May 25, 2023

Economy, Policy, Semiconductor, Partnership, Jobs, Investment, Labour, Education, Economic development

MINNEAPOLIS and ST. PAUL, Minn., May 25, 2023 (GLOBE NEWSWIRE) -- With the signing of the Jobs, Economic Development, Labor, and Industry Finance Bill (HF3028/SF3035), Minnesota is ready to step up its economic competitiveness.

Key Points:

MINNEAPOLIS and ST. PAUL, Minn., May 25, 2023 (GLOBE NEWSWIRE) -- With the signing of the Jobs, Economic Development, Labor, and Industry Finance Bill (HF3028/SF3035), Minnesota is ready to step up its economic competitiveness.
These are billion-dollar opportunities that require a combination of state, federal and private-sector investments to realize.”
“Beyond the dollars now available to match federal opportunities, there will now be new state resources for sector-focused workforce development, scholarships for higher education and funds to market Minnesota to business and talent.
Taken together, these investments by the state demonstrate a new seriousness in making Minnesota’s economy nationally competitive.”
“Greater investment in the economy by the state creates the conditions for a strengthened partnership between the public and private sectors in Minnesota.
This legislative session may signal the start of a new dialogue between state policy makers and those working to accelerate economic growth and inclusion.”

Small Business Bank Loan Approvals Continued to Plummet in April: Biz2Credit Study

Retrieved on:

Tuesday, May 9, 2023

Bureau of Labor Statistics, JPMorgan Chase, Fed, Small business, Bureau, Silicon Valley Bank, Jobs, FDIC, Employment, SVB, Signature Bank, First Republic Bank, News, Bank, Cryptocurrency, Biz2credit

NEW YORK, May 09, 2023 (GLOBE NEWSWIRE) -- Small business loan approval percentages at big banks slipped again, falling from 13.8% in March to 13.5% in April, according to the latest Biz2Credit Small Business Lending Index™ released today.

Key Points:

NEW YORK, May 09, 2023 (GLOBE NEWSWIRE) -- Small business loan approval percentages at big banks slipped again, falling from 13.8% in March to 13.5% in April, according to the latest Biz2Credit Small Business Lending Index™ released today.
Further, the approval rates of business loan applications at small banks again dropped from March’s disappointing figure of 19.1% to 18.7% in April.
Credit unions’ small business loan approval percentages also dropped last month, falling to 19.8% in April, from 20.2% in March.
As small business lending at banks and credit unions continues to decline, approvals at non-traditional lenders rose in each of the categories monitored by the Biz2Credit Index.