Lines of Credit

Consumer delinquency still high, but slowing

Capital Solutions Bancorp — Fri, 24 Jul 2009 00:00:00 -0400

Consumers are still buried in debt but may be starting to dig themselves out, said a recent report by Moody's Investor Service.

Reuters reported this week that the U.S. credit card charge-off rate - a measurement of loans that are expected to be defaulted - is at an all-time high, but has shown the slowest rate of increase in six months.

Small businesses optimistic despite credit woes

Capital Solutions Bancorp — Wed, 22 Jul 2009 00:00:00 -0400

Despite reports of increased difficulty with their business financing, many small business owners are hopeful about the country's economic recovery, said a recent survey by the National Small Business Administration (NSBA).

The survey, released this week, found that 80 percent of small business owners are having trouble accessing credit due to the credit crunch, compared to 67 percent in last year's survey.

Manufacturers cautiously optimistic, survey says

Capital Solutions Bancorp — Tue, 21 Jul 2009 00:00:00 -0400

Despite feeling constrained by the lack of customer demand, U.S. manufacturing executives are optimistic about the prospects for their companies and the economy, said a recent survey by accounting firm Baker Tilly.

The survey found that over half of manufacturing executives - 57 percent - are optimistic about the economic outlook for the next six months, while 70 percent are planning to keep employment levels steady.

ARC loan program performance called into question

Capital Solutions Bancorp — Mon, 20 Jul 2009 00:00:00 -0400

The $255-million America's Recovery Capital loan program is reaching its one month anniversary, yet many are wondering if it is already falling short.

The program, which uses funding from February's stimulus legislation, is designed to provide ailing small businesses with deferred-payment, no-interest loans of up to $35,000, fully guaranteed by the Small Business Administration.

The SBA aims to approve $190 million in loans in 2009 followed by $150 million in 2010, to help just over 11,000 small businesses retain over 55,000 jobs.

SMBs scramble for alternative lending as CIT seems likely to fall

Capital Solutions Bancorp — Fri, 17 Jul 2009 00:00:00 -0400

Small businesses are waiting with bated breath to learn the fate of one of their leading lenders, CIT Group Inc.

With the announcement early this week that CIT was racked by a liquidity crisis and approaching bankruptcy, many feared that the impact of its fall would send shock waves throughout the small business community, and consequently the economy as a whole.