Silkin Management Group: THE GOVERNMENT SAYS THEY ARE HERE TO HELP SMALL BUSINESSES. BUT IT LOOKS LIKE IT’S ALL HOT AIR
THE GOVERNMENT SAYS THEY ARE HERE TO HELP SMALL BUSINESSES. BUT IT LOOKS LIKE IT’S ALL HOT AIR
I’ve been reading some recent blogs by my colleagues at Silkin Management Group. We deliver management training and consulting to privately owned health care practices throughout the U.S. and Canada. All of our clients are small businesses.
So at Silkin, we keep an eye out for everything that effects the management of small businesses. I noticed in some recent commentaries on Silkin Management Group’s various blog sites, which were written by one or more of Silkin’s consultants, comments about the government (or more aptly, the President) saying they were now helping small businesses. Funny thing is, the statistics don’t show that. I just read this article in The Boston Globe which lays out very specifically the statistics concerning small business loans in Massachusetts from the banks that were bailed out. Billions in aid to banks not reaching many seeking loans
Check this out:
Bank of America received more than $45 billion from the U.S. government. They have issued 7 loans for for $240,500 in the last year to small businesses in Massachusetts. They did 54 loans to small businesses in the state in the previous year.
Citibank received $50 billion in bailout money. They made 1 loan to small businesses this year in this state, down from 8 the previous year.
Citizens Bank, which is owned by the Royal Bank of Scotland received nearly $32 billion in bailout money from the British government. They issued 130 loans last year to small businesses in the state (down from 256 the previous year).
Here is a bank funded by the British government doing more for small businesses in our country than the banks funded by our own government!
I don’t get it. Do you?
If you are interested in finding out more about Silkin Management Group and what we do for the management of small businesses, visit our website at: www.silkinmanagementgroup.
Dave McKevitt
Consultant
Silkin Management Group
Please see our other blog at blog.silkinmanagementgroup
So at Silkin, we keep an eye out for everything that effects the management of small businesses. I noticed in some recent commentaries on Silkin Management Group’s various blog sites, which were written by one or more of Silkin’s consultants, comments about the government (or more aptly, the President) saying they were now helping small businesses. Funny thing is, the statistics don’t show that. I just read this article in The Boston Globe which lays out very specifically the statistics concerning small business loans in Massachusetts from the banks that were bailed out. Billions in aid to banks not reaching many seeking loans
Check this out:
Bank of America received more than $45 billion from the U.S. government. They have issued 7 loans for for $240,500 in the last year to small businesses in Massachusetts. They did 54 loans to small businesses in the state in the previous year.
Citibank received $50 billion in bailout money. They made 1 loan to small businesses this year in this state, down from 8 the previous year.
Citizens Bank, which is owned by the Royal Bank of Scotland received nearly $32 billion in bailout money from the British government. They issued 130 loans last year to small businesses in the state (down from 256 the previous year).
Here is a bank funded by the British government doing more for small businesses in our country than the banks funded by our own government!
I don’t get it. Do you?
If you are interested in finding out more about Silkin Management Group and what we do for the management of small businesses, visit our website at: www.silkinmanagementgroup.
Dave McKevitt
Consultant
Silkin Management Group
Please see our other blog at blog.silkinmanagementgroup