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BB&T Corporation Message Board

  • nocturnalgator nocturnalgator Apr 13, 2009 11:09 PM Flag

    bb@t tarp money

    as a small business owner bb@t raised our interest rate last week from 3.25% up to 4.75% thanks uncle sam keep helping small business!!!!!!!!!!!!!!!!!!!!!!!!!!!

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    • You must have financed your business via a home equity line of credit. Banks are now increasing the credit line rates and decreasing the amount of credit available at the same time. Folks that have maximized his or her entire line are at risk of getting in trouble due to their line being reduced. Banks are justifying/assuming your home is worth less than when you applied. My guess is most all banks are no longer offering home equity lines at all.

    • I'd call and raise hell!!!!! I do wish you and your small business a success!

    • If you find 4.75% objectionable then get credt cheaper at another bank (if you can) whiner.

    • Have you given any thought to the cost of funds of banks these days and the risk? The reason your rate was raised was to compensate for this.

    • I would say the increase has been fueled mostly by the increase in FDIC insurance premiums. The doubling of coverage has cost the banking industry a 5 fold increase in annual charges.

      • 1 Reply to melaniefan2001
      • to all that posted to my message, we run a lumber company have a 3 million dollar mill and all equipment to operate it, we only have a 300 thousand line of credit of which we only owe 150 thousand. we have no other debt on anything, as far as personal I have app. 1.5 million total worth. to the response of the person saying whiner, the banks are getting our tax money of which bbt tarp money was app. 3.50 billion,and the money suppose to help business!

    • jams5006 Apr 16, 2009 2:12 PM Flag

      Did you not read noc message? If he says they are then I believe him. What reason would he have to bull@#$%^& .

    • How about the same reason the idiots thought they could afford mortgages on which they are now defaulting? Delusional beliefs in financial wherewithal is fairly common which why I would want to see financials before declaring some one/thing in good shape.

    • A 4.75% interest rate is extremely reasonable. When I was in business, I paid anywhere from 6% to 15% and thought I had a great deal. You are completely spoiled. I would be upset with BB&T if I knew they were giving out 3.25% loans. To tell you the truth, I am not completely satisfied with 4.75%. If a businessman can't make money on a 6% loan, my suggestion for that person is to go find an honest job.

    • Maybe you should not have gotten a variable rate loan?

    • first of all thanks for the response of all who chosen to do so. I do wish each and every one of you could understand exactly my thoughts of business and how much I think this country needs manufacturing. One exception would be the likes of "The Axmen" which is being made for a dramatic TV show, OSHA would have a field day with. To the person wanting a safe bank for his/her deposit all banks are FDIC secured, even BBT would be safe for deposits even though in essence they are insolvent! remember the app. 3.5 billion trap which can not be payed back now. our bussiness would not be running now if we was to have done like most all knowing banks,thank you sir!
      as for the responders who did not understand we have a credit line of which we are only using part of,no other payments no other obligations, never in our long run in bussiness have we ever forgone or been late on a payment,almost a lifetime (40 yrs.)app.
      A whiner No we have been though our rough times, 7 out of 10 mills have shut down in a 40 mile radius sense 9/11 (one of the remaining three just burnt completely) As with ALL business a little help would not have hurt, oh but wait now that all bussiness are failing some are getting a golden spoon! we just want a fair shake and believe in free interprize,Lets just let the market do what needs to be done ( how many of the responders jobs would be gone or will be ) I know we can not let this happen!
      thank again noct.

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