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Why Small Business Loan Approval Rates Are Climbing At A Snail’s Pace – Forbes

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Although approval percentages at banks, and non-bank lenders (institutional lenders, alternative lenders and others) have risen steadily during the past 12 months, the rebound in small business lending has been far from robust.
Bank vault. (Photo by Dick Whittington Studio/Corbis via Getty Images)
Small business loan approval percentages at big banks ($10 + in assets) increased from 14.2% in November to 14.3% in December, and small banks’ approvals also rose from 19.9% last month to 20.1% in December, according to the latest Biz2Credit Small Business Lending Index.
Approval percentages also climbed at non-bank lenders. Institutional lenders approved 24.9% of funding requests in December, up one-tenth of a percent from 24.8% in November. Alternative lenders’ approval rates rose from 25.8% in November to 26.1% in December. Credit unions approved 20.6% in December, the same percentage as in the previous two months.
Two years ago, bank approval percentages were about double what they are today. Big banks approved 28.2% of loan requests, while small banks approved more than half (50.6%) of loan requests they received in December 2019. Non-bank lender percentages in 2019 were even higher: institutional lenders approved nearly two-thirds (66.2%) of applications, alternative lenders granted 56.3%, and credit unions approved 39.7%.
Following the economic shock of the pandemic, approval percentages are rising slower than anyone hoped. Loan approval rates remain far below pre-COVID approval levels of just two years ago.
Total nonfarm payroll employment rose by 199,000 in December, and the unemployment rate declined to 3.9%, according to the Jobs Report released by the U.S. Bureau of Labor Statistics on Friday, Jan. 7, 2022. Employment continued to trend up in leisure and hospitality, in professional and business services, in manufacturing, in construction, and in transportation and warehousing, according to the report. Many of these jobs are created by small businesses.
After PPP, bank activity in small business lending has been slow. In 2022, however, with government lending programs ending and interest rates expected to rise, it will become more lucrative for banks to lend again and, hopefully, they will. Small business lending activity should pick up this year with higher rates in place.
At his confirmation hearing for his second term before Congress on Tuesday, Jan. 11, Federal Reserve Chair Jerome Powell said he believes inflation has been caused primarily by supply chain issues and indicated that the central bank would focus its attention on curbing inflation. Raising interest rates is one of the tools in the Fed’s arsenal.
Federal Reserve chairman Jerome Powell (Photo by Caroline Brehman/CQ-Roll Call, Inc via Getty … [+] Images)
Powell said that these collective policy actions, as well as the development and availability of vaccines and American resilience, helped to cushion the economic blow spark a historically strong recovery. The Fed chair said that economy is expanding at its fastest pace in many years, and the labor market is again strong.
However, challenges remain. The individual shutdown and the subsequent reopening of the economy were without precedent. While the economy has regained strength despite the ongoing pandemic, supply and demand issues are causing inflation.
“We are strongly committed to achieving our statutory goals of maximum employment and price stability,” Powell said. “We will use our tools to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched.”
Financial markets don’t like uncertainty. Unfortunately, with COVID-19 and its variants still taking unpredictable turns, uncertainty persists right now. Normalcy has not returned because the virus hasn’t allowed it. Vaccination was expected to lessen the problem, but that hasn’t happened to the extent that most people hoped. It was not expected that the small business economy would stall for so long, and it was certainly not predicted that inflation would reach the levels seen today.
We couldn’t expect the era of extremely low interest rates to continue forever. Rising interest rates will drive up the cost of capital, but they will also entice banks to loosen the purse strings for small business owners who want to invest in their companies. After all, what good is having low interest rates when institutions haven’t proven very willing to lend at those stated rates?
Some businesses are doing well, despite the pandemic: IT, financial services, and anything that does not require a lot of human interfacing. Other industries, including hotels, entertainment venues, restaurants and cruise lines are still struggling to overcome labor shortages and Covid-19’s negative impacts on the economy. Until the coronavirus gets under control, it will take a while for these industries to rebound fully.

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Business

GROMMET, ROD POCKET, OR BACK TAB CURTAINS? WHAT SHOULD I USE

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There are many curtain styles to choose from that can affect the decor and feel of a space, including classic, modern, casual, or traditional. A curtain’s class, when combined with its color, pattern, and texture, creates a mood that reflects your decorative style.

Three simple options for hanging curtains include a grommet, rod pocket, and back tab. Each style can be customized to create a unique look. These are the three most popular types of curtain headers.

Rod Pocket Curtains

Rod pocket curtains are also known as pole top or casement drapery. The rod can slip through the casing by being sewn to the back of the curtain panel. Panes can be gathered around the rod for a soft, clean look with straight lines. The curtain can be attached to the rod without any hardware. When the curtain is closed, a small amount of the rod will be visible at each end.

With layered window covers, rod pocket curtains are a great choice. When the curtain is opened, valences can be hung above it to hide the rod. You can mount sheers under the main panels. French doors and sidelights are common places for casement curtains. Rods slide through the casements at the top or bottom of the boards, so the curtains can be attached to the window’s top or bottom. This window treatment is often made with sheers. It provides privacy and allows light through.

Finials are the ends of curtain rods that match the curtain’s color, style, or pattern. You can reduce the appearance of hardware by using glass, crystal, or acrylic finials. These materials reflect light rather than drawing the eye to the end caps.

Attach curtain rings or pin-hooks to the back panel of rod pocket curtains to make them more custom. The calls are placed evenly, so the draperies don’t affect the material’s fall and gather. Because the material cannot slide along the rod, rod pocket curtains can be more difficult to open and close. Adjusting curtains is easier with pin hooks or rings. Use pins or rings to change curtains.

Back Tab Curtains

Back tab curtains are a great option for a more tailored look that doesn’t require pins or clips. Hidden tab curtains are also known as back tab curtains. They have loops or tabs sewn to the back of the curtain header. The check is hidden behind the rod so the rod can slip through it. This creates the illusion that the curtain is floating in space, giving it a clean, elegant look. Without any hardware, the curtains form pleats above each rod tab. The curtain’s top rises above the rod, giving it a clean edge.

Back tab curtains can be used if you don’t need to open or close the drapes often. Tabs may be difficult to slip over the pole because the fabric rests directly upon the rod. Flat rods are better than round ones for keeping the wrinkles and tabs straight. Flat rods allow for a smoother fall and crisper pleats because the charges are flush against the flat rod.

If you wish to make the curtains more appealing, you can attach clips or rings to the tabs. Calls can also increase in length. To add a few inches to your curtain, attach rings to its top to reduce it to the desired size. This allows you to use standard curtains without alteration. This technique also improves the appearance of puddling (or the pooling or fabric on the floor).

Hidden tab curtains distribute weight without sagging and support heavier fabrics. You can also use back tab headers with lighter materials. The rod can show through sheer fabrics, which may affect the illusion of the curtain suspended in the air. Because the title is visible, back tabs are great for curtains with lace and other decorative trim. Rings and clips may hide or pinch a portion of the edge.

Grommet Top Curtains

Grommet top curtains are a great choice for modern and trendy decor. Grommet curtains are also known as eyelet curtains. They use rings embedded in their headers to guide the curtain pole. Because of their rigidity, grommets can form well-defined and even wrinkles. Grommet top curtains are better for stiff materials. They give the fabric a crisp look and allow it to fall. Grommet rings enable panels to slide over the rod easily because of their smooth finish. As you use the curtain over time, grommets add strength.

Grommets can be made from many materials, adding to the curtain’s beauty. Popular metallic finishes include silver, brass, nickel, and bronze. There are many options for plastic grommets. You can match grommet colors with curtain fabric or create multicolored and patterned grommets for a unique design. Grommet openings can be as small as 3/8 inches up to 1-9/16 inches. This allows you to play with size and color to create a unique look.

Grommet drapery headers show the rod in contrast to casement or back tab curtains, which don’t display it. When choosing curtains, pair them with rods that complement the overall design of your window treatment. Grommet top curtains can be paired with wood, brass, and acrylic rods. The variations in shape can be influenced by varying the rod width and the grommet openings.

Consider how curtains will improve the space when you are shopping for curtains. You can combine curtain panels’ heaviness, color, pattern, and fullness. Remember how header styles affect mood and atmosphere. Combine your panels with finials, rods, and other curtain hardware to create an individual look.

There are many curtain styles to choose from that can affect the decor and feel of a space, including classic, modern, casual, or traditional. A curtain’s class, when combined with its color, pattern, and texture, creates a mood that reflects your decorative style.

Three simple options for hanging curtains include a grommet, rod pocket, and back tab. Each style can be customized to create a unique look. These are the three most popular types of curtain headers.

Rod Pocket Curtains

Rod pocket curtains are also known as pole tops or casement drapes. They are a classic and elegant way to hang drapery. The rod can slip through the casing by being sewn to the back of the curtain panel. For a soft, clean look, panels are gathered on the rod with gathers. The curtain can be attached to the rod without any hardware. When the curtain is closed, a small amount of the rod will be visible at each end.

With layered window covers, rod pocket curtains are a great choice. When the curtain is opened, valences can be hung above it to hide the rod. You can mount sheers under the main panels. French doors and sidelights are common places for casement curtains. Rods slide through the casements at the top or bottom of the boards, so the curtains can be attached to the window’s top or bottom. This window treatment is often made with sheers. It provides privacy and allows light through.

Finials are the ends of curtain rods that match the curtain’s color, style, or pattern. You can reduce the appearance of hardware by using glass, crystal, or acrylic finials. These materials reflect light rather than drawing the eye to the end caps.

Attach curtain rings or pin-hooks to the panel at the pocket’s back to create rod pocket curtains. The calls are placed evenly, so the draperies don’t affect the material’s fall and gather. Because the material cannot slide along the rod, rod pocket curtains can be more difficult to open and close. Adjusting curtains is easier with pin hooks or rings. Use pins or rings to change curtains.

Back Tab Curtains

Back tab curtains are a great option for a more tailored look that doesn’t require pins or clips. Hidden tab curtains are also known as back tab curtains. They have loops or tabs that are sewn to the curtain header. The account is hidden behind the rod so the rod can slip through it. This creates the illusion that the curtain is floating in space, giving it a clean, elegant look. Without any hardware, the curtains form pleats above each rod tab. The curtain’s top rises above the rod, giving it a clean edge.

Back tab curtains can be used if you don’t need to open or close the drapes often. It may be difficult for tabs to slide over the pole because the fabric rests directly upon the rod. Flat rods are better than round ones for keeping the wrinkles and tabs straight. Flat rods allow for a smoother fall and crisper pleats because the charges are flush against the flat rod.

If you wish to make the curtains more appealing, you can attach clips or rings to the tabs. Calls can also increase in length. To add a few inches to your curtain, attach rings to its top to reduce it to the desired size. This allows you to use standard curtains without alteration. This technique also improves the appearance of puddling (or the pooling or fabric on the floor).

Hidden tab curtains distribute weight without sagging and support heavier fabrics. You can also use back tab headers with lighter materials. The rod can show through sheer fabrics, which may affect the illusion of the curtain suspended in the air. Because the entire title is visible, back tabs are great for curtains with lace and other decorative trim. Rings and clips, on the other hand, may hide or pinch a portion of the trim.

Grommet Top Curtains

Grommet top curtains are a great choice for modern and trendy decor. Grommet curtains are also known as eyelet curtains. They use rings embedded in their headers to guide the curtain pole. Because of their rigidity, grommets can form pleats that are well-defined and even. Grommet top curtains are better for stiff materials. They give the fabric a crisp look and allow it to fall. Grommet rings allow panels to slide over the rod easily because of their smooth finish. As you use the material over time, grommets add strength to your curtain.

Grommets can be made from many materials and add to the beauty of the curtain. Popular metallic finishes include silver, brass, nickel, and bronze. There are many options for plastic grommets. For a unique design, you can match grommet colors with curtain fabric or create multicolored and patterned grommets. Grommet openings can be as small as 3/8 inches up to 1-9/16 inches. This allows you to play with both size and color to create a unique look.

Grommet drapery headers show the rod in contrast to casement or back tab curtains, which don’t display it. When choosing curtains, make sure you pair them with rods that complement the overall design of your window treatment. Grommet top curtains can be paired with rods made of wood, brass, and acrylic. The variations in shape can be influenced by varying the rod width and the grommet opening size.

Consider how curtains will improve the space when you are shopping for curtains. You can combine the heaviness, color, pattern, and fullness of curtain panels. Remember how header styles affect mood and atmosphere. To create an individual look, combine your panels with finials, rods, and other curtain hardware.

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