Still a long way to go
The Nov. 28 op-ed by Steve Bartlett and Richard Hunt, “Financial Services: Coming to the Aid of Small Business,” misses an important aspect of the small business lending puzzle.
While these two respected leaders of two critically important lending trade associations accurately describe the uptick in small business lending that we have seen this year, many aspiring entrepreneurs and existing franchise owners and job creators are still being held back from taking out loans to open or expand their business.
According to an IFA analysis by FranDATA, lending to franchise businesses in 2011 will fall short of the forecasted demand for growth by 20 percent – a shortfall causing 82,000 new jobs not to be created as well as keeping 8,000-10,000 new franchise establishments from opening their doors this year. Read more