SBA & CNN reports: Lending Plummets

Date: Wed, Jun 22, 2011 at 11:09 AM
Subject: Lending Plummets
To: ir@globalcrossroadscapital.com

 

A recent survey revealed that lending
to businesses continues to fall.
chart-small-biz-lending3.top.gif

If your clients are among those struggling to obtain
 needed financing, recommend ABC Funding.

We provide our clients working capital 
 until credit is more readily available to them.
________________________________

NEW YORK (CNNMoney) — Bank lending to small businesses fell $15 billion in the first quarter of this year, according to a report released this week.

The report shows that small business lending has declined steadily during the last three quarters. The report also found that lending has fallen on a yearly basis since hitting its peak in 2008.

Outstanding loans to small businesses surged in 2008, but when the recession started shortly after small business lending plummeted.

Banks began to tighten their lending standards, and small businesses were less willing to take on more debt.

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