Banks tiptoeing into payday-style lending
Battered by low interest rate spreads and limits on credit and debit card swipe fees, a handful of banks are experimenting with payday loans.
View ArticleMarlin: DiNapoli offers sound debt reform plan
Back in the 1840s, good-government groups concerned about New York’s rising state debt persuaded delegates at the 1846 Constitutional Convention to support a plank that required popular approval of any...
View ArticleMeet Newtek, NY’s busiest biz loan maker
Newtek Business Services, which is the biggest Small Business Lending Corp. in New York, provides SBA-backed loans to companies that often can’t borrow from banks.
View ArticleNew York revives Job Development Authority
Empire State Development has resurrected its Job Development Authority direct loan program for manufacturers, and plans up to $500 million in lending
View ArticleNew SBA regs scrap the wealth test
As the SBA falls short of lending targets and eyes a decrease in small-business lending by banks, the government has proposed eliminating the dreaded personal means test.
View ArticleSBA storm chaser on LI
The Small Business Administration sends teams to areas affected by storms, floods and other calamities through its Disaster Loan program.
View ArticleMoney for nothing
Bank of America is giving zero-percent interest loans for Sandy relief.
View ArticleSuffolk Bancorp’s fixer
Suffolk Bancorp, the parent of Suffolk County National Bank, has cleaned up its balance sheet with an aggressive bulk sale of troubled assets and raised $25 million.
View ArticleGlowacki: Dream big, plan small, market huge
A refresher of some basic small business lending facts.
View ArticleSmall biz loans up in 4Q, 1st gain since 2010
Small business loans outstanding at the end of the fourth quarter came to $586 billion, up from $584 billion in the third quarter, according to the FDIC.
View ArticleWells Fargo mortgage unit coming to LI
Wells Fargo plans to open a mortgage origination center on Long Island this fall, bringing at least 100 jobs to the suddenly hot Hicksville area.
View ArticleLI banks hang on to branches
Despite the costs of real estate and staffing, local banks continue to hold onto their large retail networks and add to them.
View ArticleBridgehampton National Bank earnings jump 6 pct
Bridge Bancorp, parent of Bridgehampton National Bank, reported first quarter net earnings rose 6 percent to $3.1 million as total assets rose 14 percent to $1.58 billion.
View ArticleAstoria Federal eyes Manhattan
The “Welcome to Bedford Falls” sign in Monte Redman’s office may be the last vestige of his bank’s run as the LI’s biggest savings and loan association.
View ArticleCongress eyes regulatory relief for small banks
The House of Representatives is considering a bill that would roll back provisions of the Dodd-Frank financial reform act for community banks.
View ArticleBanks speed foreclosure of vacant homes
Mortgage lenders are pushing for measures to speed the foreclosure process on abandoned homes, trimming maintenance costs and reducing blight.
View ArticleSmall business borrowings up for 1st time in 2013
The Thomson Reuters/PayNet Small Business Lending Index rose to 110.5 from the revised March level of 99. That brought borrowing levels back to where they were at the start of 2013.
View Article1990s-era defense loan fund still lending
The Long Island Targeted Industry Loan Fund was intended to help small defense contractors diversify in the wake of the Grumman downsizing.
View ArticleLI pawn shops flourishing
For the most part, pawn shops provide a financial lifeline to a growing number of working poor who have little or no access to credit.
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