3/3/2015
By Charles Payne, CEO & Principal Analyst

Americans love their small businesses for so many reasons, including the fact that more Americans work for them than the large behemoths. Although we see positivity in small businesses, we see negativity in banks and on Wall Street.

I don't think that's the reason why banks aren't lending to small businesses; but it is a maddening phenomenon that keeps getting worse.

Bank assets have soared past $2 trillion and loans to big businesses are well above pre-recession highs,while small business loans are down 17%.

^{Cleveland Fed}

However, never fear, because the Easy button is here. Staples announced it is getting into the small business-lending arena. The office retail giant, which is still in the process of trying to get the okay to absorb Office Depot, will provide funding from $2,500 to $1 million through a service that promises approvals in days, not weeks. 

We know Staples will not be the answer, but it is a shame that all the printed up cash is not going to the people who are willing to pour their blood, sweat, and tears into their business rather than buying back their own shares.

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Charles Payne
Wall Street Strategies

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