Small businesses need access to credit
December 30, 2009 | alternatives, federal legislation, industry | Comments (0)And the new credit card rules aren’t helping. From the story:
Mitchell, whose nine-year-old company employs 15 workers, said she scrutinizes her credit card bills when they arrive, calls the issuer when she finds discrepancies and frets when clients are slow in paying for her company’s services.
“I’m hypersensitive when getting my credit card bills paid on time for the business,” she said. “But sometimes you have to deal with larger companies that aren’t as timely.”
But Mitchell doesn’t think the federal government should have an agency whose goal is to make the institutions that issue credit cards and provide financial services more transparent when dealing with consumers. Risk, she said, is part of the entrepreneurial experience, and credit card use and dealing with the terms of those cards goes with the territory.
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