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Small Business Loans Harder to Manage in Failing Economy
As lawmakers debate the proposed financial bailout bill, small-business owners — who are especially vulnerable to financial meltdowns — face even tighter credit than usual.
They’re tapping credit cards and personal savings as it gets harder to land bank financing. They appear to be hoarding their cash, anticipating worse economic times. And unless the rescue bill frees up credit, they’ll likely find it harder to get federally guaranteed loans.
Image via NBAFinancial.
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alexander on September 29th, 2008 2:10 am
i think that many small businesses will go bankrupt because they will not have enough funds to rezist on the plunging economy
Colin on September 29th, 2008 7:38 am
Small Business Owners do have a solution. Check out the Working Capital programs from Global Swift Funding! They will lend up to $500k in as little as 7 days!
Dane on September 29th, 2008 8:00 am
Alexander: That’s rather pessimistic of you.
I think that the viable businesses are going to survive and prosper. The unprofitable businesses are going to go belly up faster.
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