Small business owners feel the credit crunch

, which means they need to retain capital. And banks are being more cautious in general due to uncertainty about the economy.

“It’s just not the right timing now as lenders appear unclear about the broader credit markets and seem to be clutching the purse strings tightly at this point,” Foreman said. “We just have to ride this out until conditions are right to arrange the proper financing for our acquisition.” A credit crunch affects small businesses more than larger ones, he said, because smaller businesses have fewer levers they can pull to get financing.

Barber said that her business -- which generates annual revenue of 2.5 million pounds -- is essentially self-funded but when she recently turned to PayPal for extra funding, the financial terms were stricter compared to a year ago. Barber wanted to borrow 150,000 pounds but learned that she would get charged 10,000 pounds upfront, instead of the usual 6,000 pounds and that she needed to pay within six months, instead of nine months.

Just know it was an all women investment board that brought this bank to its knees.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

HSBC buys Silicon Valley Bank’s UK business, ending ‘nightmare’ for British techHSBC has scooped up the UK arm of failed Silicon Valley Bank, securing the deposits of thousands of British tech firms that hold money at the lender.
출처: mercnews - 🏆 88. / 68 더 많은 것을 읽으십시오 »