Credit crunch hits small business hard
May 27, 2009 | alternatives, industry | Comments (0)It’s amazing how the media portrays credit as necessary and good for every person and institution except working people, who are portrayed as incapable of making smart credit decisions. From the story:
Lending to small businesses had slowed even before last fall’s financial meltdown, and the credit picture has probably worsened since then, according to a report from the Small Business Administration’s Office of Advocacy.
The report issued Tuesday said the growth of small-business loans – those less than $1 million – had fallen to 4 percent as of June 2008, or half the rate that prevailed during 2007.
We love small business, but how about a story about the credit crunch hurting working people?
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