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“The election will be a game-changer if we shift back to higher taxes and more regulation," Webster Bank Senior Vice President Steve Andrews told members of the Norwalk Chamber of Commerce on Jan. 14. "Assuming there’s no change in November, I think we’ll probably go another couple of years without a slowdown.”
Small Business Administration District Director Anne Hunt says the increased lending indicates positive activity within the financial industry; that banks are taking on more loans; and that small businesses are finding it easier to approach lenders.
Paving the way for third parties to access banks' customer data as a way to improve efficiencies in the customer experience are Open Banking initiatives in the U.K., the E.U. and Asia.
The service offers no-fee refinancing for both federal and private student loans.
"If a school was built in 1910 or 1920, they were built like brick you-know-what-houses," Ayles said. “They’re not going anywhere."
Still looming: the effect of the Small Business Administration's closure. “We’ve got loans that have been approved or are in the process of being approved that are waiting for the SBA,” says Patriot Bank President Richard Muskus Jr. “The SBA had better be ready for a tidal wave of backlog.”
Gov. Ned Lamont is also encouraging municipalities to delay collecting property taxes from affected employees.
Preparing for the succession of a small business is the focus of an event planned for Sept. 25 by Webster Bank and Westfair Communications.
An objective team, including your attorney, CPA and banker, can help you successfully plan for the next chapter in your business’ life.
The 2018 Tax Cuts and Jobs Act has offered businesses and individuals significant tax relief. But it hasn’t relieved some of the confusion that business owners face going forward.