1. Small Business' Real Problem with the Banking System

    Small Business' Real Problem with the Banking System
    Increased regulation of bank lending still needs to allow for measured risks that permit sound small businesses to receive funding needed to thrive. I self-financed Metal Mafia when I first opened it in 2004. The money came from family, friends, and the founders of the company. It was enough to get started but not much more. After about a year, I needed a credit line to help us pay for larger orders to continue our rapid growth. At the time, I got a meeting with a banker who listened to my story and decided to take a risk on me and my fledgling company, even though we had little more to show than a brief track record, sound financial practices, and a promising future. With his help, I was able to get a Small Business Association-backed line of credit from the well-known bank where he worked. As we now embark ...
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