Perhaps you’ve heard: there’s a jobs bill on Capitol Hill, loaded with measures designed to jumpstart small businesses. A crucial component of the legislation is a $30 billion lending fund that community banks could tap into for cheap. Logic follows that community banks will lend that money to small businesses. All the bill requires is some goodwill among senators. Good luck.
BoeFly.com has a vested interest in the Senate’s ability to play nice. The startup matches small businesses with lenders over the web, and stands poised to capitalize on reinvigorated debt markets. The company debuted in March with a mission to standardize most of the loan application process and create more avenues for companies to network with banks. Borrowers and lenders are flocking to the site, the company says.
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