In Tight Credit Market, A Tool For Small Businesses : NPR
When small-business owners start looking for money to expand, they often begin at a big bank. The banks are highly visible, well-known and often nearby. But many small-business owners report that they have struggled to get loans in the wake of the economic downturn. Ami Kassar, CEO of the small-business-loan broker multifunding.com , advises business owners that large banks are "not the best place to start" when looking for a small-business loan. Kassar has created bankinggrades.com , a website that gives every FDIC-insured bank in the nation a grade based on how many small-business loans it makes. He used data from the Federal Deposit Insurance Corp. to create the site, designed to help small-business owners find the best loan. Turned Down Cold Patricia and Jim McGrath own Branches Atelier, a preschool in Santa Monica, Calif. Their existing space had grown too small and they wanted to expand. Late last year they found the perfect site, but they needed a loan to buy ...