Banks could begin canceling lines of business credit soon

Javier Palomarez, president and CEO of the United States Hispanic Business Council, discusses the Silicon Valley Bank collapse and its detrimental impact on small businesses’ access to capital."Unexpectedly canceling lines of credit in tech would be the equivalent of pulling the emergency brake on your car driving down the interstate," he said.

Employees work on the assembly line at the Dakkota Integrated Systems manufacturing facility in Detroit on May 5, 2022. Meanwhile, the latest ADP jobs data showed that jobs in financial activities , professional/business , information and manufacturing lost jobs in March.JPMorgan Chase CEO Jamie Dimon warned

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They already have started doing it in the oil and gas industry

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How about consumer credit lines. Those balances are exploding. Something like 14 millions Americans are carrying cc balances of at least 10,000 dollars right now at an average rate of 21% plus.

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M&T Bank launches second ‘Multicultural Small Business Lab’ and pitch competitionThe Multicultural Small Business Lab will conclude on June 21 with a pitch competition and opportunity to win grants from $2000 to $6,000. And those prize amounts will likely increase. Registration ends April 18. White women are not eligible to apply .MandT_Bank
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