Small Business Loans - Marketing Efforts At All-Time Low Despite Small Business Jobs Act

Mintel Comperemedia, a firm which provides market intelligence and advice to businesses that are considering upgrading and improving their direct marketing strategies, recently highlighted the fact that the marketing and promotion of small business loans is currently at an all-time low. This is despite the recent signing into law of the 2010 Small Business Jobs Act, under which a large number of small businesses across the United States became entitled to loans at extremely favorable rates, with reduced requirements in terms of down payments and fees. Although certain banks were found to be advertising loans to small businesses through printed material as well as through online advertisements, very little advertising was being done through direct mail, which Mintel Comperemedia has identified as one of the best methods of acquiring new customers.

Andrew Davidson, the Senior Vice President of Mintel Comperemedia, commented on the situation of small business loans not been marketed effectively, and also highlighted the benefits to small businesses, as well as to the American economy in general, of small businesses expanding their operations through these favorable loans that are being offered to them: “Small business loan marketing has completely dried up. Small businesses need loans to invest in capital and hire employees so that they can begin new projects. We need to have faith in these companies in order to break the negative cycle that is holding back the country. An injection of direct marketing activity can jump start small business lending.”