Morning Mix: Small Business Turns to Private Lenders, Obama Rips Republicans

Small businesses turn to private lenders: Small business owners desperate for credit and cut off from bank loans are turning to private lenders, some of whom charge interest as high as 36 percent. (Los Angeles Times)

Obama slams Republicans over small business bill: President Barack Obama hammered Republicans over the weekend for blocking a package of aid for small business through a package of tax cuts and creation of a $30 billion fund for small banks to lend to small business. (Wall Street Journal)

At last, BP solution prepped: More than 100 days after the blowout at the Deepwater Horizon oil rig, BP is aiming perhaps as early as Monday night to start one of two procedures aimed at sealing the gushing well for good. (CNN)

Net socializing: A Nielsen study out this morning shows Americans spend 36 percent of their time online chatting, tweeting, posting updates and playing games on sites like Facebook and Twitter. The study underscores the business opportunities available to those ready to take advantage of the immense power of social media.(USA Today)

China slowdown predicted: With more than a quarter of American entrepreneurs surveyed recently either doing business in China or formulating plans to crack the Chinese market, here’s some worrisome news. A purchasing managers’ index shows Chinese manufacturing slipping. But at least it’s not crashing. (Bloomberg Business Week)

Saudi Arabia banning Blackberry service: Saudi Arabia plans to ban Blackberry Messenger, claiming the service can’t be monitored for national security purposes. (Telegraph)

Keep Bush cuts: With spending by the wealthy slowing, the case is growing for keeping the Bush tax cuts in place. New York Mayor Michael Bloomberg is the latest politician to make that case. (New York Daily News, Associated Press)

More business intelligence from Portfolio.com

No baby steps: No one sold BPA-free baby products until Ron Vigdor and his partners launched BornFree. Now they're fighting off challengers and developing products for adults.

Social optimists: The social-media explosion has spawned a burst of startups focusing on helping companies make money off the ever-increasing traffic that platforms provide.

Steeped in community aid: When the owner of a tea shop was unable to secure a business loan from the banks, he turned to his community for financial backing.