Small Business Administration teams up with black-owned Liberty Bank in bid to boost access to capital By: Sharon Nunn Wall Street Journal June 14, 2017 WASHINGTON-The Small Business Administration said Wednesday it is teaming up with New Orleans-based Liberty Bank to guarantee loans for black business owners, the first such partnership between the agency and […]
Government to Back Bank’s Loans to Black Business Owners Read More »
A new report from the Center for American Progress has a dire warning for our nation’s future. Small business ownership rates have been trending down since the early 2000s. “Looking at all households who are earning income, business ownership steadily declined from 14.6 percent in the period from 1998 to 2000 to 13.5 percent in
Small business entrepreneurship is on the decline Read More »
As a result of the Great Recession the flow of capital to entrepreneurs and small businesses went from a uniform stream to a trickle. Traditional financial institutions largely closed the capital pipeline as they considered small businesses to be too risky a venture. Even today when banks are saying they have money to lend, the
Are online business loans turning into predatory lending? Read More »
The Wall Street Journal January 3, 2015 New Data Underscore Financial Challenges and Low Tolerance for Risk Among Young Americans By Ruth Simon and Caelainn Barr The share of people under age 30 who own private businesses has reached a 24-year-low, according to new data, underscoring financial challenges and a low tolerance for risk among
Endangered Species: Young U.S. Entrepreneurs Read More »
As you may remember, the South Carolina Small Business Chamber of Commerce has been working toward a new vehicle for small businesses to have access to investors and private loans. The current law allows for high net worth individuals (individuals with annual incomes of $200,000 or couples with joint incomes of $300,000 or residents with
We’re not much richer than in 1982 Read More »
Statehouse Report August 8, 2014 By Frank Knapp Jr. S.C. Small Business Chamber of Commerce Part 2 of 2 | See part 1 Special to Statehouse Report AUG. 8, 2014 — Raising the per capita average income of all South Carolinians is a goal of economic development efforts. But while South Carolina has added 7.1 percent
State’s economic development model must change Read More »
Statehouse Report July 25, 2014 S.C. Small Business Chamber of Commerce Special to Statehouse Report JULY 25, 0214 — The unemployment rate in South Carolina is holding steady at 5.3 percent. That’s good news since it was at 11.9 percent five years ago. In fact our state ranks 11th in job creation from June 2009 to June
Creating a culture of investing locally Read More »
Inc. July 23, 2014 BY Jeremy Quittner  Karen Mills’ Harvard report on the state of small business lending paints a bleak picture, with the exception of technology. Now that we’re about four years out from the depths of the Great Recession, it’s time to get some clarity on what exactly happened to the 28 million
Former SBA Chief Raises Alarm Over a Still Tight Credit Market for Small Businesses Read More »
Frank Knapp Jr., who co-chairs the American Sustainable Business Council’s action fund and also is president and chief executive of the South Carolina Small Business Chamber of Commerce, said the newest and least established businesses may need to seek out new avenues for business credit. One example is crowdfunding — raising small amounts of money
Lenders woo LI’s small and medium-sized business borrowers Read More »
On the morning of September 14, 2010, I participated in a press conference with four U.S. Senators at the Capitol in Washington to show support for the Small Business Jobs Act that was set for a vote that afternoon. I was representing the S.C. Small Business Chamber as well as the American Sustainable Business Council.
Federal program created in 2010 helping small business in SC today Read More »
