A story headlined "Small businesses get a nearly $1-billion boost from U.S." was published today by the LA Times. It opened, "The infusion comes in the form of about 2,000 SBA loans totaling $970 million that had been held up for months in Congress. California businesses will get about 10% of the loans." It further stated, "Nearly 2,000 loans worth $970 million have been approved for small-business owners across the nation, the Small Business Administration said Tuesday."
Have you seen any opening in the small business credit markets yourself, or are edgy banks still slow to open the reserves for small businesses?
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Smaller credit lines are still being slammed shut or capped at current balances as banks tighten risks. I think these "smaller" equity lines need to be opened/ re-opened for many entrepreneurs to feel a breather. Will wait & see if the SBA loans truly open as they've said.
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