Small Business Finance News
Intuit Holds Twitter Town Hall Featuring Tips, Discussions On SMB Access To Capital
Written by Jenna Weiner
Published: 6/30/2009
Intuit held a Twitter town hall on Tuesday to address small business owners' increasing concerns about access to capital and loans.
Intuit announced some good news for small business owners on Tuesday with the launch of its virtual town hall on Twitter, assembling financial institution representatives, small business experts and small business owners.
The town hall featured questions, comments, advice and discussions for small business owners, primarily concerning access to capital - one of the most crucial tasks for small businesses in a down economy. The forum also gave advice on how to qualify for credit and obtain loans.
The latest Intuit Future of Small Business Report found that community banks and credit unions are increasingly willing to lend to viable small businesses.
With the recent credit card crunch causing banks to increase fees and limits while reigning in lending, small business loans have become an appealing alternative to the consumer credit cards that the Intuit report found to be popular among many small business owners.
The town hall forum was well-timed, considering the latest National Federation of Independent Business Report, which found that many small business owners are concerned with their borrowing needs.
The study found that 16 percent of small business owners think loans are harder to get - the highest reading since the 1980-1982 recession. In addition, the net percent of respondents who claim to have their borrowing needs satisfied fell three points from last month, landing at 19 percent.
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