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The credit spigot is opening for small businesses, says Fair Isaac as its survey of bank risk...

The credit spigot is opening for small businesses, says Fair Isaac as its survey of bank risk managers finds 62% saying the supply of credit will meet demand over the next 6 months and 89% saying the approval rate would hold steady or increase. "Particularly striking," says FICO's Andrew Jennings. "In the past, (they) haven't been as optimistic about credit for small businesses."
Comments (1)
  • BruceInKY
    , contributor
    Comments (414) | Send Message
     
    I'm in the consumer discretionary business and can't imagine why I would borrow. We are trying to trim, not add to inventory. My lease is up in a year. Our retail niche is awaiting a Federal Appeals Court ruling that could dramatically alter the competitive environment and rules for doing business in our state. My industry has a "revenue source" bulls-eye on it. My customers are under inflationary pressure in a deflationary wage/benefits scenario.

     

    If I were to apply for a small business loan it would be to get into a different business, not to relocate or expand my current one. In order to secure such a loan I would no doubt have to pledge personal assets as collateral. Frankly, the risk-reward climate doesn't look all that promising from where I sit...nor do I wish to submit to a colonic interrogation from a bank just for the thrill of it.
    16 Apr 2013, 10:06 AM Reply Like
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