Credit crunch hits small businesses

Around 65% of domestic banks say they have tightened their lending standards for commercial and industrial loans to small firms over the past three months, according to the July 2008 Senior Loan Officer Opinion Survey on Bank Lending Practices, released in August from the Federal Reserve System. That’s up sharply from the 50% of banks reporting tighter credit in the April edition of the quarterly survey.

Read the full story on CNNmoney.com

Leave a Reply

Your email address will not be published. Required fields are marked *