Can a business still get a small business loan today?
The reality is that 99 percent of banks are in great health. According to Jack Palmer of the Crescent News “the vast majority of America’s banks are well capitalized and are operating in a ‘business as usual’ mode.”
It is true that the nation’s financial system is in a crisis. The government is running out of choices, hoping that a $700 billion plan to buy back toxic debt will regain confidence in the credit sector of our economy.
Let’s stop here for a minute. How is this affecting you?
Centrix Bank CEO Joseph Reilly said, “We have continued to do business as usual” while monitoring the disruptions in the financial markets.” And this statement holds true for almost every lender that concentrate their portfolios on small business lending.
The bailout is aimed at 117 major banks that are borderline insolvent and need to get their foreclosing sub-prime mortgages off the books in order to operate day-to-day. Those banks, most likely, will use up hundreds of billions to restructure.
And while they do that, solvent and profiting lenders are seizing the moment to make some headway in the lending market. Kelly Spors, of the Wall Street Journal, takes the time to list a few alternatives in her recent article. She suggests that small business financing are still available today and it is time to start thinking outside the box.
Small Business Owner
Initial Underwriting Group
*Breaking Down The Barriers To Small Business Financing*
The same paper that says the off shoring of millions of good paying jobs is good for our economy, is saying you can find “peers” to open nonexistent pocketbooks and lend you money.
It doesn’t happen in the real world, unless you are just trying to fund a $1000 copier purchase.
The “Union Leader” also told the UAW and other unions that removing supplier jobs from the US to China, would be good for the economy, now they are finding out that those “jobs” were actually customers.
The experts are idiots and anyone that is still listening to them (after all the crisis was called a “glitch” last year and they continue to tell us that 40% inflation in core food items isn’t affecting Americans).
But, believe what you want, the scam artists and crooks are praying you do.
How long will your small American business be able to manage without credit now that the “bail out” failed?
I just heard on the news that the stock market heard the news and immediately lost 700 points. The stock market is back up now, but the credit crisis is on for real now. I don’t own a business and am not looking for credit in the next year or two, but many people will have houses to buy, cars to finance, businesses to run. How will they manage when the credit dries up?
We small business owners will manage without the bail out that smelled liked garbage. This bailout will benefit only the millionaires out there, NOT the small business owners. Amidst all this so called crisis, I still have companies calling me to offer credit. NO THANKS!
Spiritually speaking, how do I defend myself against a small rodent hellbent on assassinating me?
By the way:
# Society & Culture > Cultures & Groups > Lesbian, Gay, Bisexual, and Transgendered
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# News & Events > Current Events
# Business & Finance > Small Business
# Politics & Government > Civic Participation
(rodent assassin = LGBT, wtf?)
You should assassinate it first.
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