The opening remarks of this report contains the following brilliant observation:
With financial institutions tightening lending standards in this recent economic crisis, the small businesses that depend on them for credit have been hit particularly hard.
Ya think? Without the ability to sell stock or bonds to raise capital, small businesses have to turn to banks. Banks are required to meet tough new standards and for the most part, keep the loans they write on their balance sheets. To maintain their required ratios, most banks have withdrawn credit from those least able to survive it, small business. A perfect storm.
Several Innovation America and NASVF recommendations have been included in Small Business Financing Forum's Report to the President. What happens next and how can we help with the implementation of the best recommendations for new programs for Innovative Small Businesses? - Bendis
Original Article: Report to the President – SBA Small Business Financing Forum « Dispatches from the Front
