Originally published on Tue October 15, 2013 1:25 pm
For many online and other small businesses, getting a loan or a big cash advance is tough. Banks and other traditional lenders are often leery of those without years of financial statements and solid credit scores.
But some lenders and other financial services companies are beginning to assess credit risk differently — using criteria you might not expect.
Jeffrey Grossman is an acupuncturist in Bellingham, Wash. He's also a small businessman. He creates media marketing materials for other acupuncturists hoping to expand their practice.
The job of software developer is one of the hottest occupations in the world right now, and demand for developers is only expected to accelerate. That poses a dilemma for startup technology companies here in Connecticut. In an incredibly competitive marketplace, how do they find and cultivate the right talent? One program in Connecticut is trying to come up with a solution.
Economists at the University of Connecticut are calling on the state to use bonds that have been approved by the legislature but never issued. The Connecticut Center for Economic Analysis forecast reports that if the state relies only on traditional drivers like the housing market to grow the economy, it could begin to lose jobs again in 2014.
In an ongoing effort to create growth for mom and pop businesses in the state, the U.S. Small Business Administration is making capital available to Connecticut Economic Development Fund, a non-profit offering micro-loans. WNPR’s Sujata Srinivasan has more.
James Dufour owns Connecticut Carpentry in Meriden. He makes cabinets for hospitals and employs seven people. Up until the start of the financial crisis, the nearly 30-year-old business had little trouble accessing bank loans.
(Read more in the Connecticut Mirror at ctmirror.org).
Controversy is heating up over a plan by the hedge fund Bridgewater Associates to move from Westport to Stamford - with the help of taxpayer dollars. But Stamford officials are under increasing pressure to get it done.
Governor Dannel Malloy says the state's $115 million investment in the hedge fund Bridgewater was made to save jobs in the state. But the incentive plan to move the company from Westport to Stamford has drawn criticism from groups that say the Connecticut is sidestepping state and local policies.
As debate continues over Connecticut’s new comprehensive energy plan, Governor Dannel Malloy has been traveling around the state promoting one of its key components: natural gas. On Monday, he visited a high school in Woodbridge which is now heated with natural gas rather than oil.
Connecticut and the U.S. may appear to be in a recovery that’s lost its way, especially given recent disappointing jobs numbers. But the message from economists at a Rocky Hill conference seemed to echo President Obama – hang on and it’s going to get better. WNPR’s Harriet Jones reports.
You’d think most entrepreneurs would follow the Facebook formula for success. Take an idea, bankroll it with venture capital, and float an initial public offering worth billions of dollars. But that’s not what every start-up wants. WNPR’s Sujata Srinivasan reports.
Entrepreneurs all over the country are buzzing about crowdfunding. A new federal law will make it possible for small companies to attract investors online. But not everyone in Connecticut is thrilled about the new rules. WNPR’s Harriet Jones reports.
Earlier this month President Obama signed into law the JOBS Act, a measure with rare bipartisan support.
Connecticut has many links with China, and companies from the state have been on successful trade missions to sell goods there. But this weekend a different kind of mission will set out for China – one that aims to bring investment back to the state. WNPR’s Harriet Jones reports.
Connecticut has had links with China’s Shandong province, its sister state for some 25 years. John Schuyler of accounting and advisory firm Marcum, was among the representatives who went out with that very first twinning mission. He’s been back more recently.
Connecticut’s angel investment tax credit appears to be working as new figures show increased funding for start-up companies. Less encouraging, venture capital investments, the next stage of funding required for a company to grow, declined statewide last year. WNPR’s Sujata Srinivasan reports.
The November elections are shaping up to be largely about the issue of income inequality.
That’s especially if multi-millionaire investor Mitt Romney gets the Republican nomination - which seems increasingly likely. News of Romney’s tax rate - around 14% - coupled with outspoken statements from other uber-wealthy investors like Warren Buffett - who think they really should be paying more in taxes than those who work for them - have set up this battle.
Last year’s jobs bill set aside $100 million as a loan pool to help small businesses grow and create jobs. It’s dubbed the Small Business Express Package, and applicants were promised a quick turnaround. State officials have been touring the state to explain the program to businesses that might benefit. But as WNPR’s Sujata Srinivasan reports, they have yet to finalize a loan.
NBC Sports Group is to bring more than 450 jobs to Stamford as it builds a new studio complex in the town. WNPR’s Harriet Jones reports.
NBC will take over the former Clairol plant in Stamford under this deal, converting part of the 32 acre campus into a hockey studio and consolidating some of its other networks and operations at the site. The announcement was made by Governor Dannel Malloy.
We give billions to charity every year, but are we actually solving the world’s problems? When we look at the programs meant to fight global poverty and disease, we tend to see two poles...either we just need more money thrown into the aid programs we now have, or we realize that all these billions are just going down the drain.
Six years ago the Community Investment Act was signed into law to preserve and protect the places that are important to Connecticut's identity and character, while also creating more affordable housing and offering municipalities help for capitol improvement projects. Now the Community Investment Act is touting it's successes since 2005 with a press conference today, and an exhibit at the State Capitol. Joining us by phone is Senate President Donald Williams who originated the law.
More details are slowly emerging about the Connecticut-based financial expert that Warren Buffett has chosen to oversee investments at Berkshire Hathaway. The billionaire has been trying to arrange succession planning at the company after his five decades in charge.
A prominent UConn law professor has been tapped to advise the new Consumer Financial Protection Bureau, founded under the Dodd-Frank financial reform act. Patricia McCoy will be working on mortgages. McCoy is the director of UConn law school’s Insurance Law Center and an expert on consumer finance issues. She’s been a prominent commentator on the foreclosure crisis, and an advocate of protecting the rights of homeowners who were the victims of predatory lending.