December 11, 2008 | Print this Page.
Small business owners are suffering under the ongoing credit crunch.
The chair of the National Small Business Association is declaring that "the SBA as we know it is broken" when it comes to helping companies gain access to working capital.

Marilyn Landis and others in the small business community are meeting with members of President-elect Obama's transition team this week to discuss their concerns about the credit crunch and other issues they face, according to The Pittsburgh Tribune-Review.

The NSBA chair told a gathering in Pittsburgh that small business owners must "be part of this recovery" and was quoted as accusing the U.S. Small Business Administration of "finding more ways to get out of guaranteeing SBA loans" and of shifting more costs onto banks that do issue these loans.

She was also critical of the government for focusing only on "too big to fail" companies and called on the SBA to focus more on direct loans to small businesses.

Earlier this week, the Washington Post noted that SBA loans had dropped 30 percent and that more than 75 percent of U.S. banks had tightened their small business lending standards in recent months. This has been especially tough on small businesses because they often depend on lines of credit to meet their day to day cash needs.
The chair of the National Small Business Association is declaring that "the SBA as we know it is broken" when it comes to helping companies gain access to working capital.

Marilyn Landis and others in the small business community are meeting with members of President-elect Obama's transition team this week to discuss their concerns about the credit crunch and other issues they face, according to The Pittsburgh Tribune-Review.

The NSBA chair told a gathering in Pittsburgh that small business owners must "be part of this recovery" and was quoted as accusing the U.S. Small Business Administration of "finding more ways to get out of guaranteeing SBA loans" and of shifting more costs onto banks that do issue these loans.

She was also critical of the government for focusing only on "too big to fail" companies and called on the SBA to focus more on direct loans to small businesses.

Earlier this week, the Washington Post noted that SBA loans had dropped 30 percent and that more than 75 percent of U.S. banks had tightened their small business lending standards in recent months. This has been especially tough on small businesses because they often depend on lines of credit to meet their day to day cash needs.

Interact with Us:

Share This Blog Post:

Post new comment

The content of this field is kept private and will not be shown publicly.
CAPTCHA
This question is to determine whether you are a human visitor and to prevent automated spam submissions.
Capital Solutions Apply Today, Get Cash Next Week

What Our Clients Say

PolyFlex Products Testimonial Letter

PolyFlex Products

When we started this program, you indicated your team was there to transition us over to a more conventional working capital arrangement in time. It actually happened very fast, and the new program is working well... I just wanted to thank you and your whole team for the professional manner in which you handled our account.

R.P. Campbell

Cosmopolitan Staffing Services Testimonial Letter

Cosmopolitan Staffing Services

...Everything you had said and promised verbally during our negotiation process had materialized... You and everybody at Capital Solutions, have been very honest and I would highly recommend you to any of your potential clients.

Criel de Mesa
President/CEO