NY Fed Says Tight Credit Restrains Small Business Growth
The New York Fed said tight credit restrained the growth plans of many small businesses in 2012, citing a survey of lending in its district conducted in March and April.
The New York Fed said tight credit restrained the growth plans of many small businesses in 2012, citing a survey of lending in its district conducted in March and April.
The National Federation of Independent Business said that its Index of Small Business Optimism rose in April; however, far more of those surveyed expect business conditions to be worse in six months than those who think they will be better.
First Capital announced its Receivables Asset Monetization Program to provide companies with much-needed liquidity without adding debt to their balance sheet.
The Wall Street Journal reported that U.S. companies are on track to raise the most money through IPOs since before the financial crisis.
In a press release, Dell said its Special Committee of the Board sent a letter to Carl Icahn and Southeastern Asset Management requesting additional information related to the proposed leveraged recapitalization transaction submitted May 9.
Fitch said its analysis of data from the Federal Reserve Bank of New York shows that as of April 9 almost $300 billion in nongovernment securities were financed through the U.S. triparty repo market, a level that has remained relatively constant over the past few months.
Bloomberg reported that JPMorgan’s leading directors urged shareholders to reject calls for Jamie Dimon to relinquish his dual role as chairman and CEO, saying it is against the best interests of investors.
Private equity firm High Road Capital said it completed the acquisition of The Crown Group with financing provided by U.S. Bank and Babson Capital Management.
Wells Fargo announced it is hiring more bankers to serve small businesses through its banking stores and has introduced two new secured credit products for business owners.
GE Capital and Slate’s Roadshow for Growth rolled into Chicago as part of a six month, 20-city tour that will address the issues of middle market businesses.