During the year, the BankUnited small business finance team grew its footprint in Florida and expanded into Washington, Michigan and Wisconsin. A focus on hiring and retaining top talent has remained a priority. As part of BankUniteds robust employee wellness program, the year ended with the creation of a state-of-the-art employee gym at BankUniteds Miami Lakes corporate headquarters which contains training equipment including machines and free weights and which will offer health education events and group exercise classes. In addition, the banks Dollars for Doers Program made its inaugural grants to nonprofit organizations nominated by employees and to which they contribute their time. During the year, BankUnited employees logged more than 1,400 volunteer hours in their communities. BankUniteds commitment to financial literacy was honored for a second consecutive year at the Innovation in Financial Education Awards presented by Nasdaq and EverFi. BankUniteds continued efforts in 2016 to improve the financial awareness of young people included the Youth About Business Summer Business Camp and Central Islip Senior High School Financial Scholars Program in New York and South Florida initiatives such as the 4 Downs for Finance program with Miami Dolphins Wide Receiver Jarvis Landry, the Urban League of Palm Beach County Financial Empowerment Center Credit Boot Camp, City of Fort Lauderdale Housing Authority Step Up Apprentice Financial Empowerment Series, and Miami-Dade Economic Advocacy Trust Teen Court Get Money Week. In addition, BankUnited provided more than $1 million in grants and contributions to numerous organizations which support the banks affordable housing and financial education initiatives in the communities where it operates. For more information about BankUnited please call (877) 779-2265 or visit www.BankUnited.com . About BankUnited, N.A.
Make.ure you understand the risk this involves, especially if you are securing the loan with your home. This is problematic as over half of small businesses surveyed are seeking loans of under $100,000, leaving a critical gap in the small business loan market. As the economy enters the final stages of the cyclical recovery from the recession, it appears unlikely that all the barriers to bank lending to small business will disappear. And a survey by the National Federation of Independent Businesses fib noted that small businesses reported sales as their number one problem for four straight years during the crisis and subsequent recovery. In total, current self participants have increased their small business lending by $14.8 billion over a $30.0 billion baselines. . legit regressions are used to determine the probability of entrepreneurship. As an economic engine, they typically create new jobs, but since the housing bubble burst during 2007-2008 they have struggled to maintain their foothold.
Community banks have traditionally placed greater emphasis on relationships with borrowers in their underwriting processes, but these relationships are expensive and have not in the past translated well to automated methods for assessing creditworthiness, which are favoured by larger banks. This trend was exacerbated by the financial crisis. Bank offers five types of SBA loans for businesses in almost any for-profit industry. Get Babbage in your pocket today: Apply Now! Costs of underwriting small-business lending are also high due to heterogeneity of small businesses and the lack of a secondary market.