Banks slashed small business lending by $43 billion
The numbers back up what small business owners have been saying for two
years Main Street suffered a brutal credit crunch.
The numbers back up what small business owners have been saying for two years: Main Street suffered a brutal credit crunch.
The total value of outstanding loans to small businesses plunged by $43 billion, or 6.2%, between June 2009 and June 2010, according to a report released this week by the Small Business Administration. That's a drop of $59 billion, or 8.3%, from June 2008. From CNNMoney.com.
The numbers back up what small business owners have been saying for two years: Main Street suffered a brutal credit crunch.
The total value of outstanding loans to small businesses plunged by $43 billion, or 6.2%, between June 2009 and June 2010, according to a report released this week by the Small Business Administration. That's a drop of $59 billion, or 8.3%, from June 2008. From CNNMoney.com.
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