News / Business
Craig G. Francis Blogs About “Banks Pledge to Loan More to Small Businesses”
SBA Loan Broker helped over 2500 businesses acquire over one billion dollars in funding
San Diego, CA - SBA and business loan broker Craig G. Francis discusses a recent discussion on Fox Business News’ Willis Report with Citigroup Head of Small Business Banking Raj Seshadri in his post “Banks Pledge to Loan More to Small Businesses.” In his post, Francis, who has helped over 2500 businesses acquire over one billion dollars in funding, analyzes Seshadri’s discussion with host Gerri Willis and gives his own interpretation of her answers.
In his post, Craig G. Francis points out that Citigroup’s pledge to lend $24 billion to small businesses over three years (2011-2013) sounds promising on the surface, but falls short on specifics. One major issue he brings up is the failure of Seshadri to specify what a “small” business is for her company. Too often, Francis explains, the major banks include the lower end of mid-size businesses in this category, giving them the opportunity to lend to “small” businesses without the risk of lending to true small companies.
Francis also takes Seshadri to task for her lack of specifics in other areas, as well as Willis for failing to pin her guest down. He disputes Seshadri’s comment that eight out of ten owners consider their businesses “healthy,” particularly compared to the results of recent NFIB polls. Francis is also bothered by Seshadri’s generic response that Citibank wants to get to “yes” for as many businesses as possible, but then does not go into any specifics about how to get to that “yes.”
Small businesses have traditionally been the engine of recovery for the United States’ economy, but in this current recession they have been conspicuously missing. Much of this has to do with the climate of uncertainty, but lack of viable funding options has also taken its toll. Craig G. Francis makes it clear that platitudes and generic comments will not bring about a resurgence in small business growth.
With over thirty years of experience in business lending, including placing over 2500 loans for over $1 billion in funding, Craig G. Francis has a wealth of knowledge about the industry. His insights into banks, lending and businesses make SBALoneStore.com and CraigGFrancis.com solid sources for small business owners.
For more information, visit CraigGFrancis.com or contact him at 1-888-666-9722. For media inquiries, contact Kamatoy Media Group at 619-573-9456.
In his post, Craig G. Francis points out that Citigroup’s pledge to lend $24 billion to small businesses over three years (2011-2013) sounds promising on the surface, but falls short on specifics. One major issue he brings up is the failure of Seshadri to specify what a “small” business is for her company. Too often, Francis explains, the major banks include the lower end of mid-size businesses in this category, giving them the opportunity to lend to “small” businesses without the risk of lending to true small companies.
As we have seen from other large banks, the definition of “small” is about as exact as was
Bill Clinton’s definition of “is.”
Craig G. Francis
Francis also takes Seshadri to task for her lack of specifics in other areas, as well as Willis for failing to pin her guest down. He disputes Seshadri’s comment that eight out of ten owners consider their businesses “healthy,” particularly compared to the results of recent NFIB polls. Francis is also bothered by Seshadri’s generic response that Citibank wants to get to “yes” for as many businesses as possible, but then does not go into any specifics about how to get to that “yes.”
Small businesses have traditionally been the engine of recovery for the United States’ economy, but in this current recession they have been conspicuously missing. Much of this has to do with the climate of uncertainty, but lack of viable funding options has also taken its toll. Craig G. Francis makes it clear that platitudes and generic comments will not bring about a resurgence in small business growth.
For more information, visit CraigGFrancis.com or contact him at 1-888-666-9722. For media inquiries, contact Kamatoy Media Group at 619-573-9456.
