Small Business Financing News: What You Need to Do if Your Bank is One of the 700 on the FDIC's Troubled List
Big news hit today as the FDIC's "problem bank list" reportedly jumped to 702 institutions in the fourth quarter, up from 552 in the third quarter.
According to Dan Burrows' article More Than 700 Banks Are on FDIC's 'Troubled' List:
Another 45 institutions failed during the fourth quarter, bringing the total number of bank failures for 2009 to 140, the highest annual total since 1992, the FDIC said. The agency insures deposits at more than 8,012 institutions with in excess of $13 trillion in assets.
If your bank is on the FDIC's list, you need to be proactive, not re-active about protecting your small business financing.
I recently blogged about what you need to do if you need recapitalization and how finding the right advisor or small business investment banker is key if you want to continue to secure working capital for your business. This is something that's really important, especially as more struggling businesses are finding it difficult to secure or hold on to their small business loans. Businesses who are in danger of losing their small business loans need to be prepared to seek financing outside the normal lending parameters.
Be proactive about your small business financing, get smart advisory. Organizations like US Capital Partners can provide recapitalization advisory and assist you with the financial restructuring of your company.
If you would like to know more about how your business can secure the funding it needs, visit US Capital Partners, Inc. at http://www.uscapitalpartners.net/ or call (415) 882-7160.