The banking industry is not only one of the cornerstones of the global economy, it is firmly entrenched in nearly every aspect of our professional and personal lives. The financial transactions that constitute banking have been around for hundreds of years, contributing to the somewhat lackluster reputation of the industry. In recent years, however, deregulation and technological developments have brought notable changes that will help banks meet 21st century challenges in variable economic times. As other types of companies enter the financial services business, banks have also improved and expanded their suite of products and solutions to maintain their market share. The role of government, more prominent in banking than perhaps any other type of business, will continue to be critical in shaping the industry’s future.
WHAT YOU NEED TO KNOW ABOUT SMALL BUSINESS ADMINISTRATION EXPORT LOANS AND GRANTS
When Lisa Bitsky, owner and president of Automated Design Corp., needed a loan in 2011, she headed to her local office of SCORE, a nonprofit that advises small business. A SCORE advisor suggested that her company apply for an SBA Export Express loan, which is guaranteed by the U.S. Small Business Administration. The advisor believed… Read More
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