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Business credit definitely loosening


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13 replies to this topic

#1 BobWang

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Posted 28 January 2011 - 03:12 PM

I've been reading about lenders concentrating on small businesses, due to all the new protections for personal consumer accounts.
Anecdotally, I guess it's true.
One 100k offer was from Wells Fargo.
The other 100k was from some outfit I'd never heard of.
Both went to the shredder. :D



#2 eiui thelus

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Posted 28 January 2011 - 07:11 PM

Did they have fees?

#3 nawlins48

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Posted 28 January 2011 - 07:16 PM

nice! [subscribed for updates]

#4 BobWang

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Posted 28 January 2011 - 07:27 PM

Did they have fees?

I really don't know, I shredded them.
Wells Fargo seemed on the up-and-up.
Previous offers like this had ridiculous interest rates.

#5 BobWang

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Posted 28 January 2011 - 07:30 PM

Oh, the shady outfit even included an embossed "credit card" with number and my name.
Expiration date 04/11. :P

#6 ConcordUser

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Posted 28 January 2011 - 08:23 PM

Interesting. I guess they are ready to give credit to small business.

#7 Repairerer

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Posted 28 January 2011 - 08:33 PM

Oh, you got those too? j/k :lol:

Did I ever tell you? I hate Wells Fargo.

#8 Sniper762

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Posted 28 January 2011 - 11:25 PM

What's wrong with Wells? The street seems to love them.

#9 Repairerer

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Posted 29 January 2011 - 12:03 AM

What's wrong with Wells? The street seems to love them.


They hold my mortgage and have jacked around with it on many occasions. As in, taking a timely, normal, correct amount monthly payment and deciding to apply it to principal for no reason and then call me late. Charge me a fee, I call and think it's straightened out, next month same thing because they still think the payments are a month behind. Rinse, lather, repeat, take months to get straightened out, end up paying some of the fees anyway.

I would never stand for this today, but this was all in my pre-CB days. I wish I could refinance with someone else, but it's so paid now that there is no way to without losing a few grand. Nothing to do but keep paying and watching them like a hawk.

#10 cputrwz

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Posted 29 January 2011 - 12:52 AM

Oh, you got those too? j/k :lol:

Did I ever tell you? I hate Wells Fargo.


I hate them too...before I switched to CU banking Wachovia had been my bank for like 10+ years and those evil bastards stole my bank! :)

#11 Wado

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Posted 29 January 2011 - 02:45 AM

So I guess you are telling me I need to start a small business, LOL.

#12 clutchcargo

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Posted 29 January 2011 - 08:29 AM

I've been keeping an eye on biz offerings for months now. I believe they will be the area of opportunity for those of us who like "The Game".

#13 more credit less cash

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Posted 29 January 2011 - 10:38 AM

I've been reading about lenders concentrating on small businesses, due to all the new protections for personal consumer accounts.


Banks/lenders have always been making more money from businesses (low risk) than from consumers (HIGH risk). They can almost survive without consumers, but they can't without businesses.

And interest rate being almost nothing, credit/loan processing fee is worth a lot more to them in the short run now.

#14 Jarly

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Posted 31 January 2011 - 11:16 PM

Does the Wells Fargo Business card report to Personal?




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