Best Banks For Small-Business Loans

When it comes to getting a loan for your small business, it may not come down to who you know, but where you go. Banking Grades, a new grading tool from Philadelphia-based MultiFunding, found that some of the nation's biggest banks have the worst performances when it comes to small-business lending. Meanwhile, banks that recorded the best small-business lending performances are the ones most entrepreneurs have probably never heard of.

Banking Grades gathers data from quarterly FDIC call reports to grade banks' small-business lending performance. Banks that use 25 percent or more of their total domestic deposits to make small-business loans -- which MultiFunding defines as loans of under $1 million -- get an A, while banks that use under 3 percent of their deposits to make small-business loans get an F. Small-business owners looking for a loan can easily search banks' grades according to the banks' zip code, city/state, name or address.

The big banks (defined as those with deposits of more than $10 billion) that ranked the highest for small-business lending are:

1. Zions First National Bank, Salt Lake City. Grade: A (25.44 percent)
2. First-Citizens Bank & Trust Company, Raleigh, N.C. Grade: B (23.8 percent)
3. Synovus Bank, Columbus, Ga. Grade: B (19.25 percent)
4. Chase Bank Usa, National Association, Newark, Del. Grade: B (18.34 percent)
5. Bancorpsouth Bank, Tupelo, Ms. Grade: B (17.13 percent)
6. Wells Fargo Bank Northwest, National Association, Ogden, Utah. Grade: B (13.71 percent)
7. Arvest Bank, Fayetteville, Ark. Grade: B (12.82 percent)
8. Whitney Bank, New Orleans, La. Grade: B (12.02 percent)
9. Capital One Bank (Usa), Glen Allen, Va. Grade: B (11.85 percent)
10. Tcf National Bank, Sioux Falls, S.D. Grade: B (11.49 percent)

The big banks did not fare so well. Among the biggest banks that got an F according to Banking Grades are Bank of America, JP Morgan, Citibank, Bank of New York, HSBC, Union Bank, Morgan Stanley, Goldman Sachs and Discover Bank.

"In our opinion, big banks are not well equipped to lend to small businesses," said Ami Kassar, founder and CEO of Multifunding, which helps small businesses find the best loans available to them. "They are simply too bureaucratic and complex to handle small-business loans well."

?The report myopically ignores commitments -- just a few months back, 13 major banks announced a landmark $20 billion commitment to increase lending to small businesses in underserved communities," said Elise Brooks, director of communications for The Financial Services Roundtable, an association that represents the nation's largest banks, insurance companies, securities firms and other financial institutions. "Additionally, small-business lending is more than just providing the financing for the loans themselves. Large financial institutions are leaders in non-lending ways as well. From offering financial education about putting together an attractive loan application to providing online resources, networking opportunities, and rebates for small-business owners -- the breadth and depth of this commitment goes beyond a simple loans to deposits ratio."

As far as the ranking of the 10 best banks overall for small-business lending, many of those tend to be smaller banks. All of these top 10 banks got an A grade:

1. Farmers State Bank, Hosmer, S.D.
2. Community Bank, Nevada, Iowa
3. Farmers And Merchants Bank, Milligan, Neb.
4. First Resource Bank, Savage, Minn.
5. Wright Express Financial Services Corporation, Midvale, Utah
6. Security State Bank, Sutherland, Iowa
7. State Bank Of Lismore, Lismore, Minn.
8. Bank Of Glen Ullin, Glen Ullin, N.D.
9. Bank Of Lindsay, Lindsay, Neb.
10. State Bank Of Colon, Colon, Neb.

This isn't a coincidence, according to Kassar. "Smaller banks are generally much better at making small-business loans than big banks," he said. "This is because the loan officers and the credit officers typically work in the same building and are able to work on a loan together and find the best way to get it done. Small-business loans typically require careful thought and creativity. There is almost always a twist. The smaller banks are much better able to handle this."

While Banking Grades won't necessarily help small businesses get a loan, it can save them time in the process of looking for one. "Proper access to capital for small-business owners and entrepreneurs is one of the most critical issues facing our economy. And despite this, it's so tough to find the right bank or lender to go to," Kassar said. "As a country, we put dozens of roadblocks and landmines in front of our job creators. If this makes it a little simpler to help create jobs, we will be thrilled."

UPDATE: This story was updated to include comments from The Financial Services Roundtable.

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Reds power to victory over Braves

By JOE KAY

AP Sports Writer

Associated Press Sports

updated 9:47 p.m. ET May 22, 2012

CINCINNATI (AP) - All joking aside, Brandon Phillips' renewed power has more to do with his hamstring than his biceps.

Phillips drove in three runs with a pair of homers off Brandon Beachy on Tuesday night, leading Cincinnati to a 4-3 victory over the Atlanta Braves in another game of all-or-nothing that got the Reds second baseman back in the flow.

"I started doing push-ups," Phillips suggested.

Nice try. Nobody bought it.

He hadn't homered since April 24, an indication something was wrong with his swing. He pulled his left hamstring in the fourth game of the season and had to adjust his stance, standing more upright.

Now that the hamstring is healed, he's back into his usual crouch at the plate.

"That really helped me a lot," said Phillips, who watched video of swing before the game and made the adjustment.

Rookie shortstop Zack Cozart also homered off Beachy (5-2) as the Reds got the best of another high-powered game. The teams have combined for 10 homers in the two games, seven of them by Cincinnati.

"It is pretty wild," said Braves leadoff hitter Michael Bourn, who had his first career multihomer game with two solo shots. "They hit some, we hit some. Ten in two games is a lot, I don't care what ballpark you're in. You don't expect that."

The Reds moved a season-high four games over .500 at 23-19 with their fourth straight win.

Beachy is one of the majors' best at keeping the ball in the park - every park except Great American, that is. He hadn't given up two homers in a game since his start there on July 24.

Took him only four innings to top it, giving up a career-high three.

The right-hander had allowed only one homer in his first eight games this season, tied for fewest in the majors by a starter. Phillips hit a full-count pitch 422 feet to center field for a 2-0 lead in the first inning, setting the tone.

"I'm not going to make the ballpark an excuse for any of those three home runs," said Beachy, who came in leading the majors with a 1.33 ERA. "None of the three pitches was where they were supposed to be. Other than those three pitches, I pitched the way I wanted to tonight."

Cozart hit his second homer in two games, and Phillips led off the fourth inning with another homer for a 4-2 lead. It was Phillips' ninth career multihomer game and the fifth by a Reds player this season.

In addition to getting some tips by watching video of his swing, Phillips got a pointer from Braves third baseman Chipper Jones before the game.

"He said you've got good hands, use your hands," Phillips said.

Mat Latos (3-2) gave up five hits, including the first of Bourn's two homers, in seven innings to win his third straight decision. Left-hander Aroldis Chapman fanned two in the ninth for his second save, hitting 100 mph three times in 18 pitches.

The Cuban pitched for the first time since his arrest early Monday morning for driving 93 mph on an interstate in suburban Columbus, Ohio. Police said he had a suspended license.

Chapman got a loud ovation when he left the bullpen. He hasn't allowed an earned run this season, prompting the Reds to try him in as closer.

Caleb Lloyd, a college student who caught two home run balls in Cincinnati's 4-1 win on Monday night, was an honorary captain for Tuesday's game. He and coach Billy Hatcher took out the lineup card, giving Lloyd a chance to tell his story to the umpires.

And, no, he didn't catch any of the five balls hit into the stands in the teams' second straight night of home run derby.

Just like on Monday night, the Braves couldn't hit enough homers to keep up.

Bourn homered on Latos' sixth pitch, his first game-opening homer of the season and the third of his career. Bourn also homered off Logan Ondrusek in the eighth.

Jason Heyward had an RBI double in the fourth, the only run of the series that hasn't come off a homer.

NOTES: Jones took infield practice, moving gingerly around the infield. Jones missed his fourth straight game with a swollen left calf, hit by a hard grounder on Friday night. He might be back in the lineup on Wednesday. ... C Brian McCann was a late scratch after he became ill. ... Reds RH Nick Masset, sidelined since spring training by an inflamed pitching shoulder, hopes to resume throwing later this week. ... RH Bronson Arroyo makes his 300th career start on Wednesday, facing Atlanta's Tommy Hanson. Arroyo is 114-107 career.

---

Follow Joe Kay on Twitter: http://twitter.com/apjoekay

? 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Reds LHP Chapman arrested on traffic charges

CINCINNATI (AP) ? Aroldis Chapman was arrested for speeding and driving with a suspended license early Monday, a few hours after it appeared he was in line to become the Cincinnati Reds' next closer.

General manager Walt Jocketty and manager Dusty Baker met with Chapman following a 4-1 win over Atlanta on Monday night to get details of the pitcher's arrest, which they didn't know about before the game.

Police in the Columbus suburb of Grove City emailed The Associated Press a copy of an arrest report showing the 24-year-old reliever was stopped after radar clocked him going 93 mph on northbound Interstate 71 shortly before 1 a.m. on Monday.

That was a few hours after Chapman moved to the front of the competition for the closer's job by finishing a 5-2 win over the Yankees in New York on Sunday for his first save of the season and the second of his career.

"I don't know what happened," Baker said after the meeting with Chapman. "He got a speeding ticket. It can happen to anybody. His people are taking care of it, and we're helping."

The arrest report said Chapman was seen speeding at 12:40 a.m. When police stopped him, they found he had a suspended Kentucky driver's license. He was arrested and photographed, then released on bond. He has a court appearance scheduled for June 6.

Chapman, who speaks to the media with a trainer serving as translator, wasn't available for comment after the meeting.

His arrest is the latest twist in the Reds' attempt to find someone to take the spot of closer Ryan Madson, out for the season with a torn elbow ligament. They gave left-hander Sean Marshall the first chance, but he struggled, prompting Baker to try the hard-throwing Cuban with a 0.00 ERA.

Marshall got the final out in the 4-1 win over the Braves on Monday. Baker wasn't going to use Chapman because he had pitched four of the previous five days.

"It's going to be a situation where we're going to have to use who we think is best on that day, and hopefully he's rested and the best guy for that day," Baker said before the game. "It could be a number of guys.

"This is what happens when you lose your closer, you know what I mean?"

The Reds signed Chapman to a six-year, $30.25 million deal in 2010, expecting him to develop into a dominant starter. With the rotation set and the team on its way to the NL Central title that year, they moved him into the bullpen for the first time.

He did so well that they kept him there for 2011 in a setup role, but he struggled with his control and developed a sore pitching shoulder. He finished 4-1 with a 3.60 ERA in 54 appearances that season.

Cincinnati planned to move him back into a starting spot during spring training until injuries decimated the back end of the bullpen. Madson had reconstructive elbow surgery, and setup men Bill Bray and Nick Masset got hurt.

So Chapman went back into a setup role and has dazzled, giving up only seven hits and one unearned run in 22 1-3 innings while striking out 39. He has been so dominant that Baker decided he might be ready to try closing games.

"He graduated to the setup role," Baker said. "Now, hopefully, he's graduated ? which we think he might have ? to the closer's role. It just depends on how often you can use him."

Given Chapman's shoulder problems last season, the Reds have been careful about pitching him too many days in a row. He pitched in four of five games in New York last week against the Mets and Yankees, but hasn't gone three days in a row ? typical for a closer.

"We didn't want to go four out of five," Baker said. "We hoped not to use him (that much). But we're on an honor basis ? he said he felt fine. I just tell him to make sure you're telling the truth. Right now it's not hero time. It's May, not September."

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Scientists develop rewritable digital storage built into DNA; biological binary exists

We've seen DNA flirt with computing and storage before, but a biological system that can record digital data? That's something different. Stanford researchers used natural enzymes to create rewritable data storage built directly into living cells' DNA. The enzymes can flip DNA sequences back and forth, enabling a programmable, binary-like system where the DNA section is a zero if it points in a particular direction and a one if it points the other way. (Color coding indicates which way a section of genetic code is facing.) The so-called recombinase addressable data (RAD) module can store one bit of information without consuming any power, and in addition to letting scientists switch DNA sequences, it allows them to count how many times a given cell has doubled. That capability could come in handy for studying how cancer spreads, and could even give scientists the ability to "turn off" affected cells. The next step for the scientists will be upping the storage capacity to a byte, which will reportedly take a good ten years. That gives you plenty of time to study up on that science -- for a start, check out a more detailed account of the research in the source link.

Scientists develop rewritable digital storage built into DNA; biological binary exists originally appeared on Engadget on Tue, 22 May 2012 16:43:00 EDT. Please see our terms for use of feeds.

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Foreclosures Move Downtown | Chappaqua NY Homes | Bedford ...

Eleven of the nation?s 20 largest metro areas based on population documented annual increases in foreclosure activity, led by the Florida cities of Tampa (59 percent) and Miami (38 percent). Other cities with increases included St. Louis (29 percent), Chicago (26 percent), Philadelphia (24 percent), and Atlanta (21 percent).

Among the 20 largest metros area, cities posting the biggest annual drops in foreclosure activity included Seattle (54 percent), Phoenix (44 percent), San Francisco (34 percent), Washington, D.C. (30 percent), Riverside-San Bernardino, Calif., (30 percent), and Los Angeles (28 percent), according to RealtyTrac?s April U.S. Foreclosure Market Report.

The metro areas with the highest foreclosure rates among the 20 largest were Riverside-San Bernardino (one in every 213 housing units with a foreclosure filing), Miami (one in every 273 housing units), Atlanta (one in every 298 housing units), Phoenix (one in every 313 housing units), and Tampa (one in every 315 housing units).

The 11 cities with annual increases in foreclosure activity were all in the Midwest, South or on the East Coast, while six of the nine cities with annual decreases were in the western states of California, Arizona and Washington.

April foreclosure activity decreased 5 percent from the previous month and was down 14 percent from April 2011. One in every 698 U.S. housing units had a foreclosure filing during the month.

?Rising foreclosure activity in many state and local markets in April was masked at the national level by sizable decreases in hard-hit foreclosure states like California, Arizona and Nevada,? said Brandon Moore, CEO of RealtyTrac. ?Those three states, and several other non-judicial foreclosure states like them, more efficiently processed foreclosures last year, resulting in fewer catch-up foreclosures this year.

?In addition, more distressed loans are being diverted into short sales rather than becoming completed foreclosures,? Moore continued. ?Our preliminary first quarter sales data shows that pre-foreclosure sales ? typically short sales ? are on pace to outnumber sales of bank-owned properties during the quarter in California, Arizona and 10 other states.?

Combined foreclosure activity in the 24 states with a non-judicial foreclosure process and the District of Columbia decreased 7 percent from the previous month and was down 29 percent from April 2011. More populous states like Arizona, California and Nevada drove the overall decreases in non-judicial foreclosure activity, but 14 of the 24 states and the District of Columbia posted month-over-month increases in foreclosure activity. Still, only seven of the non-judicial foreclosure states posted annual increases, including Georgia, Tennessee and Minnesota.

Combined foreclosure activity in the 26 states with a judicial foreclosure process decreased 3 percent from the previous month but was still up 15 percent from April 2011. Foreclosure activity decreased on a month-over-month basis in 14 of the judicial foreclosure states but increased on a year-over-year basis in 15 of the judicial foreclosure states.

After three straight monthly increases, U.S. foreclosure starts ? default notices or scheduled foreclosure auctions, depending on the state ? decreased 4 percent from March to April. A total of 97,665 properties started the foreclosure process for the first time during the month, down 2 percent from April 2011.

Despite the overall decrease in foreclosure starts, 26 states posted monthly increases in foreclosure starts, and 27 states posted year-over-year increases in foreclosure starts. States with the biggest annual increases in foreclosure starts included New Jersey (180 percent), Utah (179 percent), Indiana (49 percent), Pennsylvania (44 percent), Florida (43 percent), and Michigan (42 percent).

Bank repossessions (REOs) decreased on a monthly basis for the third straight month in April, down 7 percent from March. Lenders completed the foreclosure process on 51,415 U.S. properties during the month, down 26 percent from April 2011 ? the 18th consecutive month with a year-over-year decrease in REOs.

REO activity decreased on an annual basis in 37 states and the District of Columbia, while 28 states posted monthly drops in foreclosure activity. States with the biggest year-over-year decreases in REO activity included Nevada (71 percent), Arizona (70 percent), Washington (67 percent), California (52 percent), Virginia (47 percent), and Maryland (47 percent).

A 15 percent month-over-month increase in foreclosure starts helped Nevada post the nation?s highest state foreclosure rate in April: one in every 300 housing units with a foreclosure filing. Despite the monthly increase in foreclosure starts, overall Nevada foreclosure activity decreased 67 percent from April 2011.

California foreclosure activity decreased 30 percent from April 2011, but the state still posted the nation?s second highest foreclosure rate: one in every 351 housing units with a foreclosure filing.

Florida foreclosure activity increased 26 percent from April 2011, boosting the state?s foreclosure rate to third highest in the nation. One in every 364 Florida housing units had a foreclosure filing during the month.

The top 10 foreclosure rates among metropolitan statistical areas with a population of 200,000 or more were all in Nevada, California and Florida. Stockton, Calif., led the way, with one in every 213 housing units with a foreclosure filing during the month. Seven other California cities had foreclosure rates in the top 10, along with Las Vegas at No. 7 and Miami at No. 9.

A 44 percent year-over-year decrease in foreclosure activity dropped Arizona?s foreclosure rate ? one in every 377 housing units with a foreclosure filing ? to fourth highest among the states, while a 21 percent year-over-year increase in foreclosure activity helped Georgia maintain the nation?s fifth highest state foreclosure rate ? one in every 398 housing units with a foreclosure filing.

Other states with foreclosure rates ranking among the top 10 were Illinois (one in 418 housing units with a foreclosure filing), Utah (one in 419), Michigan (one in 487), Ohio (one in 525), and Wisconsin (one in 547).

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