credit Archives

BMO Harris Bank boosts credit to AZ business owners

Credit Unions Big Boose to Small Business - AZ Business Magazine September/October 2011

BMO Harris Bank is making an additional $2 billion in credit available to businesses in Arizona over the next three years. “We’re here to help, making more of our balance sheet available to businesses to support growth opportunities and help create new jobs,’ said Tim Bruckner, Arizona Commercial Banking Manager, BMO Harris Bank. “We have… Read More →

Factoring Programs: Good News For Young Entrepreneurs

Factoring Programs
by in Economy | Finance

The lecture hall was packed, but students weren’t listening to a lecture; they were listening to what could possibly be their only chance at entrepreneurship: factoring programs. It’s an old — and often misunderstood — strategy for young entrepreneurs whose capital and credit history aren’t as appealing to banks as they should be in order… Read More →

Arizona’s Credit Unions Want To Make Larger Loans To Small Businesses

Make Larger Loans To Small Businesses - AZ Business Magazine Sept/Oct 2010
by in AZ Business Magazine | Featured | Finance

As lending opportunities for small businesses throughout Arizona continue to tighten, legislation has been moving through Congress that would enable Arizona’s credit unions to make more loans to small businesses. The media is filled with reports about how small businesses are having trouble gaining access to affordable credit. Credit unions did not take TARP money… Read More →

Arizona’s Credit Unions Are Helping Those Who Depended On Payday Loans

Arizona’s Credit Unions Are Helping - AZ Business Magazune Sept/Oct 2010
by in AZ Business Magazine | Featured | Finance

With Arizona’s payday loan industry now history, the state’s credit unions are jumping into the resulting void to both help consumers and gain new members. Called REAL Solutions, the Arizona Credit Union League & Affiliates’ new program offers an option for consumers who depended on the short-term loans made by the payday loan industry. But… Read More →

Stabilizing Asset Prices Is Key To An Economic Recovery

money line

The declines in asset prices are sweeping around the globe like a giant tsunami tumbling everything in its wake. Equity prices are down 47 percent from their highs, commodities 53 percent and, of course, residential real estate 25 percent. Industrial production, retail sales and personal consumption expenditures are all showing losses year-over-year and do not… Read More →

The Credit Crunch Is Leading Many Organizations To Outsource Asset-Intensive Legacy Processes

Money Crunch

Market conditions are always a driving force in organizational spending, and the current environment is no exception. But in 2009, in addition to cost reduction, companies are now evaluating whether they can maximize their scarce credit availability by outsourcing capital-intensive IT functions that were traditionally “off limits” to these sorts of exercises or simply not… Read More →

Despite Weak Economy, Credit Unions Are Providing Financial Assistance To Small Businesses

Small Businesses getting help in down economy

When talking about credit unions and business loans, the key word is small. The percentage of business loans to credit union assets nationally is about 2 percent; business loans in Arizona average about $240,000, compared to $180,000 nationally. And because the loans are relatively small, the focus is on small businesses. Federal law caps credit… Read More →

Financial Institutions In Arizona Are Expected To Receive Bailout Money

Financial Institutions Receive Bailout
by in AZ Business Magazine | Economy | Finance

While most of Arizona’s state-chartered banks were mulling over their options for federal assistance late last year, Uncle Sam was injecting billions of dollars of new capital into national banking companies with Arizona subsidiaries. The question is whether any of that money from the Department of the Treasury’s $700 billion Troubled Asset Relief Program (TARP)… Read More →

State-Chartered Banks Are Still Lending Despite The Credit Crunch

Money Flow
by in AZ Business Magazine | Economy | Finance

The credit crunch is gripping much of the nation, but Arizona banks are still lending money and most are well-capitalized to weather tough economic times. The state’s core capitalization rate of 10.31 percent is well above the national average of 7.89 percent. That means Arizona banks have a good cushion to ride out the mortgage-induced… Read More →

Tips On How To Navigate The Current Credit Crunch

money squeeze
by in AZ Business Magazine | Economy | Finance

The credit crunch is making its way from Wall Street to Main Street and squeezing businesses across all industries. There are some proactive steps Arizona companies can take to prepare for potentially challenging days ahead. Cash is king If you have cash on your balance sheet, you have a greater degree of flexibility in your… Read More →