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There has been a lot of discussion in the process about why solid, credit worthy businesses can't get loans or financing from banks. The article below explains why.

Most of the large banks have tightened up their underwriting as well as their LTV - Loan to Value - rations. As a result, credit lines are being declined and in many cases being reduced for healthy, profitable companies.

The banks received hundreds of billions from the public to start lending again and if anything, the opposite is happening.

The message, if you need a line of credit to capitalize your business, go to your local community bank. You may receive better rates and better LTVs.

 

Submitted: Dec 20, 2008    Views: 145    Comments: 0    Likes: 1   


View Article: http://executivesuite.blogs.nytimes.com/2008/12/05/anonymous-banker...


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