Following the collapse of Silicon Valley Bank (SVB), regulators announced they were also shutting the doors on NY-based Signature Bank. The SVB-panic spread like a contagion to Signature, causing a similar bank run and subsequent collapse.
There is a simple answer and a complex answer to why the bank failed. The simple answer is that it experienced bank run and didn’t have the money on hand to cover withdrawals. A bank run is when many depositors withdraw their funds at the same time. When the bank couldn’t produce the funds to cover withdrawals, regulators stepped in
United Capital Source Inc. is proud to announce that we have surpassed $1 billion in transaction volume. We have proudly matched over 1 Billion dollars to businesses across the United States since its inception in 2011.
On Friday, March 27, 2020, Congress officially passed the Coronavirus Aid, Relief, and Economy Security Act, a.k.a. The CARES Act. This $2 trillion relief package was created to help individuals and small businesses that are currently in financial straits due to Covid-19.
In 2011, I started United Capital Source with the mission of helping entrepreneurs grow and stabilize their businesses. Anyone who has worked with us knows that our support isn’t just limited to business loans and other funding solutions. At UCS, we take great pride in guiding entrepreneurs through tough times, even when it seems like the only option is to
Two issues that are very close to our hearts here at UCS are charity and equality. We are always striving to help the less fortunate and give women the same opportunities for success as men. So, it’s no surprise that we were drawn to the remarkable efforts of the International Rescue Committee (IRC). In impoverished nations worldwide, young girls are
Among our most important responsibilities here at UCS is exposing and eliminating the many unfair practices of specific business lenders. Though the business financing industry has improved dramatically, many business lenders are still manipulating small business owners into perilous agreements. Their goal is not to help borrowers but profit off their inability to fulfill their obligations. Business lenders do this
United Capital Source’s history with charitable causes runs deep. Since 2012, we’ve been making regular donations to several charities, especially during the holidays. Giving back serves as a reminder as to why UCS was founded in the first place: to help hard-working business owners provide for their families. Supplying the tools to build businesses ultimately allows our clients to build
Last May, The Small Business Finance Association announced the creation of the SFBA Broker Council. To quote PR newswire, this new initiative aims to bring together “responsible brokers that serve small businesses to focus on creating best practices.” Among the 3 co-chairs selected to lead the SFBA Broker Council was none other than United Capital Source CEO Jared Weitz.
NEW YORK, May 15, 2018,/PRNewswire-iReach/ — The Small Business Finance Association (SFBA) on 5/14/18 announced the launch of a new initiative called the SFBA Broker Council dedicated to bringing together responsible brokers that serve small businesses to focus on creating best practices. The Council has selected Jared Weitz, founder & CEO of United Capital Source Inc. has been selected as