In most recent times these folks have lost nearly $100 billion - do you think they are actively seeking new loans right now? Probably not - if you are a customer tread lightly and bring a solid bit of collateral (not mortgages, sorry) to the table.
It's a goofy lending world out there, but for the folks under $21MM in Revenue at least you have the SBA to consider.
Showing posts with label banks. Show all posts
Showing posts with label banks. Show all posts
Monday, June 29, 2009
Tuesday, March 18, 2008
Credit in this Environment? - Good Luck!
The crunch isn't over yet - I was on a call with some college friends recently and they were joking about which of their firms would go down first, UBS or Lehman. After the Bear bailout, probably neither. Still - not a good sign that the financial crunch, meaning lack of credit even for good borrowers, is over.
If you are a small company looking for money in this environment - look to friends or family. The banks or other lenders are looking elsewhere for now, Treasuries anyone?
If you are a small company looking for money in this environment - look to friends or family. The banks or other lenders are looking elsewhere for now, Treasuries anyone?
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