Lines of Credit

Credit squeeze hurting business owners

Posted in: Financial News, Lines of Credit
December 31, 2008
Credit conditions have yet to improve for many businesses.
Small and medium sized businesses continue to feel the pinch of a tightened credit landscape as the economy heads into a tricky 2009.

One sector badly hit is trucking, with its direct exposure to reduced economic demand from consumers and businesses alike.

Gas projects 'suffering' from restricted capital

Posted in: Lines of Credit, Oil and Gas
December 30, 2008
The credit crunch is taking a toll on energy projects everywhere.
Restricted access to lines of credit is jeopardizing the development of gas pipelines.

That's according to a report in the Wall Street Journal, which says oil and gas companies such as El Paso and Kinder Morgan are struggling to secure the necessary working capital to construct new conduits.

GDP decrease reflects struggling economy

Posted in: Financial News, Lines of Credit
December 26, 2008
Companies of all sizes continue to struggle in the current economy
U.S economic output shrank in the third quarter of 2008 in further evidence of the tight trading conditions faced by many small and medium-sized businesses as the year nears its end.

Gross domestic product - which calculates the output of domestic goods and services - fell at an annual rate of 0.5 percent during the third quarter of the year.

Business owners will benefit from credit card changes

Posted in: Lines of Credit
December 19, 2008
Small business owners and others will benefit from new credit card rules in 2010.
Small business owners who depend on credit cards for their day to day cash flow needs will benefit from changes enacted by the Federal Reserve this week.

Effects of credit crunch felt far and wide

Posted in: Cash Flow, Lines of Credit
December 18, 2008
Auto dealers have lost up to 25 percent of their customers to the credit crunch.
Effects of the credit crunch are being felt from corporate boardrooms to small businesses like auto dealerships.

This week, Chrysler announced that it was temporarily halting production, leaving thousands of employees facing uncertain futures. Like most other car companies, Chrysler has been plagued by falling demand for its products, and further undermined by the economic problems facing its fellow Big Three auto companies.

Companies report stagnant capital situations

Posted in: Lines of Credit, Working Capital
December 16, 2008
Working capital is the lifeblood of many companies.
A growing number of business executives report that working capital at their companies has either shrunk or is stagnating.

The new survey by KPMG LLP finds that 67 percent of senior financial executives reported an undesirable working capital situation. KPMG noted that many of the companies surveyed also reported that they do not have working capital improvement programs in place, nor did they report preparing reliable cash forecasts.

Business owners likely to benefit from credit card vote

Posted in: Financial News, Lines of Credit
December 15, 2008
Business owners and consumers may breathe easier under some new credit card rules.
Small business owners who depend on credit cards to meet their day to day cash flow needs may get a break this week when the Federal Reserve votes on proposals to rein in several objectionable lending practices.

Credit crunch takes toll on U.S. oil companies

Posted in: Lines of Credit, Oil and Gas
December 15, 2008
Declining credit has contributed to a drop in active U.S. oil rigs.
The credit crunch continues to ensure tougher times for small companies engaged in oil and gas exploration.

According to the latest weekly survey of nationwide oil rig activity from Baker Hughes, there were 62 fewer active rigs in the U.S. last week than the previous week, marking a total of 1,790.

Credit crunch could worsen with GMAC bankruptcy

Posted in: Financial News, Lines of Credit
December 12, 2008
If GMAC goes bankrupt, it could impact consumers as well as some small business owners.
Auto dealers and other small business owners are waiting to see what will become of GMAC, the credit arm of General Motors that finances auto loans all over the country.

Earlier in the week, GMAC indicated that its investors were unwilling to support a plan to make the entity into a bank holding company that would be eligible for federal bailout funds under the TARP plan, according to the Washington Post. GMAC is now raising the specter of bankruptcy.

Small business leader: SBA is 'broken'

Posted in: Cash Flow, Lines of Credit
December 11, 2008
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.
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