Our daily blend of the latest news, trends and tips for the small business community.

What’s going ‘on’:

Small business lending drops $45B: Banks had $609.9 billion in outstanding loans made during the year ending in June 2011, down 6.9 percent from the $652.2 billion not yet settled in June 2010, according to the Small Business Administration Office of Advocacy. In contrast, large business loans rose by 5.8 percent during the same time period.

Small business apologize for Aurora tweet: Online clothing retailer Celeb Boutique has apologized for sending out the following misinformed tweet on Friday: “ #Aurora is trending, clearly about our Kim K inspired #Aurora dress ;)” after realizing the trend stemmed from the midnight massacre at a movie theater in Aurora, Colo.

Keep an eye ‘on’:

Congressional bickering costing billions: The federal government spent an additional $1.3 billion in borrowing fees thanks to the months-long struggle last summer (finally settled in August) over how to lift the country’s borrowing limit, according to a report released Monday by the Government Accountability Office.

Helpful advice ‘on’:

How to know when its time to exit (Open Forum)

How to perfect your start-up elevator pitch (YEC)

Ho w to manage your online brand (Business Insider)

How to your small business can use Pinterest (ragan)

How to avoid common entrepreneur blunders (NBC)