Yahoo! Small Business Advisor readers who want to understand "why small business lending is such a confusing mess" will be interested in a new columnist debuted yesterday by The New York Times "You're the Boss" blog.
In the blogger spirit of curating web content, I'll summarize what Ami Kassar says, and point you to his full column for more details and so that you can follow him from here.
The Times' "You're the Boss" blog features 14 writers with various perspectives on "the art of running a small business." Kassar's expertise comes from running a loan broker called MultiFunding that he says has worked to help hundreds of entrepreneurs navigate the capital-seeking process.
Kassar calls the small-business lending market "highly inefficient" and "poorly understood." He explains:
Read More »from Loan broker calls business lending “a mess”
"There are now loan products out there with annual percentage rates of 4 or 5 percent and others as high as 60 or even 80 percent. In part, this is the unintended consequence of the big banks' tightening up