A $200-million dollar fund recently announced by Citi will help finance loan funds for small businesses in low-income communities.

Citi has announced important financial news for entrepreneurs who work in developing areas. The company has launched a $200-million fund to jump-start small business lending in low-wealth and low-income communities around the United States.

The Communities at Work Fund will finance nonprofit and for-profit Community Development Financial Institution Loan Funds. Those funds will in turn lend to local businesses in low-income communities.

“We recognize that too many small businesses, microenterprises, charter schools and community service institutions simply do not have access to credit, yet they are engines for economic growth,” said Citi CEO Vikram Pandit.

Read more…

Administaff’s Business Confidence Survey shows small business owners are regaining a positive outlook.

The recent Business Confidence Survey released by human resources provider Administaff indicates that small businesses are regaining their confidence as the economy begins to pull out of the recession.

More than 39 percent of small business owners said they expect the economy to turn around this year, and 44 percent believe this turnaround will take place in 2011.

The survey of CFOs, CEOs and other executives at Administaff’s small and midsized clients was conducted late last month. When asked about their biggest short-term concerns, the economy was still the dominant worry for 71 percent of small business owners.

Read more…

Most entrepreneurs have the notion to start a business so they can become their own boss. That’s one of the biggest perks of owning the business: being the one who makes all the decisions. However, many entrepreneurs find out the hard way that running a business and making ALL the decisions is a lot of hard work, especially when the decisions are out of their expertise.

You, as a small business owner, have the right to be the boss of everything. But you also have the right to hire help and delegate important tasks, especially when it comes to decisions that may make or break the company. A novice entrepreneur with no administration experience or no leadership experience may do very well to hire a boss.

This doesn’t mean you lose full control of your business. It’

Read more…

Build Business Credit

Last week on Earth Day more and more individuals, corporations and governments made personal commitments towards creating a global green economy.

Did you know you can also build business credit for going green as well?

There are many ‘Go Green’ companies willing to extend credit to your business in an effort to help you become a green company. These credit lines give you access to various business and consumer products designated as eco friendly.

Each purchase made using your line of credit helps establish business credit because your payments are reported to the business credit bureaus.

One company takes it a step further by taking 10% of each of your business purchases and donating it to a “Green Organization.”Now that’s what I call supporting the environmental movement.

If you think going green will cost too much money then think again because in the long run it can save your business a bundle. For exampl

Read more…

I received this question recently:

I have found your website over the internet and I might have understood that you could help me out. I have a few questions regarding aged shelf corporations and credit building process. I am a non-US based resident and I would like to purchase a shelf corp from the USA of two or three years old and then build credit for it.

Would you be so kind and explain to me how does that work and if I am a non-US based resident, could my corporation receive unsecured loans and credit lines? Do I need SSN in order to receive unsecured loans and credit lines?

How does the credit building process work and up to how much period does it take to be done properly? Can I reach a Paydex score of 80 or Fico score of 700-800?

Read more…

Evansville-based

Integra Bank will sell another group of its branch offices in an effort to improve its bottom line.

Integra plans to sell two of its Kentucky branches and two of its Ohio branches to West Virginia-based Citizens Deposit Bank and Trust, the companies announced Thursday.

Citizens will assume about $73.4 million of deposit liabilities and $18.3 million of loans related to the four branches.

Read more…

Secured Business Credit Cards

While consumers have more than enough secured credit card offers to choose from it seems to be more of a challenge for small business owners.

If you are having a hard time finding the right secured business credit cards for your company don’t worry because I’m hoping this post will point you in the right direction.

What’s most important is first ensuring that the secured card you select as a business does in fact report to the business credit reporting agencies not your personal files.

Most of the cards you hear about that help rebuild your credit are for consumers and not for businesses. You al

Read more…

On Friday headlines in some papers were inspired with the new report from the Office of the Actuary at the Centers for Medicare and Medicaid services. The issue they are pointing out is encouraging for everyone who has been opposed to the U.S. health care reform.

Headlines are based on the report released by the chief actuary for the Centers for Medicare and Medicaid Services, Richard S. Foster. He said that the new law will increase costs and that chances for reduced spending in next ten years are very weak.

Since the health care reform is still very sensitive issue and opinions are divided, this news really shook the nation.

Read more…

EVANSVILLE Sometime this year, the

Growth Alliance for Greater Evansville plans to repay a loan made by the city last year.

In July, GAGE borrowed $280,000 from the Evansville Department of Metropolitan Development. The money was needed, officials then said, to pay partly for repairs to the building GAGE occupies at 318 Main St. after its roof sprung a leak.

The loan was to come due in November, but GAGE officials obtained an extension until May.

Read more…