Is There Money Now
4/12/2009 - Suzanne Caplan
The whole idea of the TARP and TELP plans has been to encourage the banks to lend more money. I am not sure if that is a good idea since most people and small businesses are in debt up to their armpits. If the consumer has no money, they cannot buy and then businesses do not need to purchase goods as well. I have seen stores normally stocked to the ceiling now having bare shelves.
But the news is not all bad. New rules for the SBA have increased their gurantee position to 90% and lowered some of their fees. That will allow banks to make more SBA loans so that if you need to finance new equipment or a big project, now may be the time to ask.
Leverage is not a bad think for a business but all borrowing has to have a payback. At least now, all the doors are not shut.
1 Comments From Other Members
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| 10/1/2009 |
Terri Austin from Sacramento CA wrote:
Let's all exercise restraint. I say we put our money where our passion is and cut back on borrowing when possible, yeild not to temptation.
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