Skip to main content

View Diary: Big Banks have abandoned small businesses (78 comments)

Comment Preferences

  •  $20mil or less isn't a small business? (0+ / 0-)

    This is terrible wording:

    "The general rule is that when larger banks release their small-business lending statistics, [they are referring to] companies with revenues of $20 million or less," says Kassar. "And that, in my opinion, is not a small business."

    So a business with $50,000 revenue isn't a small business?

    •  You're reading it wrong, but it doesn't matter (1+ / 0-)
      Recommended by:
      Laconic Lib

      It says anyone under $20MM in revenue is considered a small business. So your $50,000 would qualify. It's nonsense anyway though. Over $5MM you are almost certainly looking at a commercial loan and not a small business loan at a major bank.

      This entire article is just marketing crap by a guy who wants  people to think it is impossible to get a small business loan without going through his company (For a 1-2.5% cut)

    •  Re-read this sentence (1+ / 0-)
      Recommended by:
      Laconic Lib

      "the vast majority of small-business loans made by big banks is to companies with revenues of $10 million to $20 million"

      In other words, NOT your $50k business.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site