So writes Jim Kendall of Chicago’s Daily Herald.
Not only will small business loan capital come from banks, it will come from alternative lenders and credit unions.
“There are, of course, alternatives to bank financing: Accion Chicago, which makes microloans — $50,000 max; private investors, including angel networks; crowdfunding, a popular Internet option; the SBA’s real estate focused 504 loan program, a partnership with banks; and credit unions.
And, in the same theme, we picked this up from Emily Maltby’s Wall Street Journal Column that banks also are loosening their credit boxes.
Also, she makes the astute observation that 2012 was probably a better year than 2011 and 2010 for many small businesses which will make it easier for banks to make loans that satisfy the regulators.