FTC holds forum on small business financing

May 30, 2019
The Federal Trade Commission (FTC) held a forum that found due to time restrictions, small businesses may not always choose the best financing tools for their needs.

The Federal Trade Commission (FTC) held a forum that found due to time restrictions, small businesses may not always choose the best financing tools for their needs.

Instead, small businesses are focused more on ensuring that their business is operating efficiently, rather than spending time to learn the ins and outs of the numerous financing tools available. Experts on the panel addressed other key issues such as access to capital, annual percentage rates and lending.

The Forum was made up of three panel discussions. In the first panel, speakers provided an overview of the small business financing marketplace, specifically discussing the types of financing products available to small business owners, including term loans, lines of credit, cash advances, and the benefits those products provide. The second panel addressed merchant cash advance and the benefits and issues these products pose to consumers. The third panel had a broader discussion on consumer protection risks in the financing marketplace.

Small businesses are essential to the U.S. economy, and most need financing for growth and functionality. However, not all small business owners have the means or time to secure traditional loans through banks.

To learn more about the forum and panelists, click here.

To view the full panel discussions, click here to go to the Federal Trade Commission’s Facebook page.

ASA advances professionalism and excellence in the automotive repair industry through education, representation and member services. To take advantage of the many benefits of membership in ASA, please visit ASAshop.org or call (817) 514-2901. Access our new mobile app by downloading on iPhone and Android devices.

For additional information about ASA, including past news releases, go to ASAshop.org or visit ASA’s legislative website at TakingTheHill.com.

Sponsored Recommendations

ZEUS+: The Cutting-Edge Diagnostic Solution for Smart, Fast, and Efficient Auto Repairs

The new ZEUS+ simplifies your diagnostic process and guides you through the right repair, avoiding unnecessary steps along the way. It gives you the software coverage, processing...

Diagnostic Pre- and Post-scan Reports are Solid Gold for Profitability

The following article highlights the significance of pre-scans and post-scans, particularly with Snap-on scan tools, showcasing their efficiency in diagnosing issues and preventing...

Unlock Precision and Certainty: TRITON-D10 Webinar Training for Advanced Vehicle Diagnostics

The TRITON-D10 lets you dig deep into the systems of a vehicle and evaluate performance with comparative data, systematically eliminating the unnecessary to provide you with only...

APOLLO-D9: Trustworthy Diagnostics for Precision Repairs

The APOLLO-D9 provides the diagnostic information and resources you need to get the job done. No more hunting through forums or endlessly searching to find the right answers. ...

Voice Your Opinion!

To join the conversation, and become an exclusive member of Vehicle Service Pros, create an account today!