Small Business Loans & The Failing Banks Who Lend
FDIC Needs Put Pinch On Small Banks
For institutions like Security First Bank, a one-branch community bank in Fresno, it means hundreds of thousands of dollars that now won’t be available for small-business loans, car loans or mortgages — the lifeblood of the local economy.“Many of our loans are to small businesses,” said Robert Hemsath, Security First’s CEO. “And those are the ones who need credit now more than ever.”
More banks have already failed in 2009 than in any year since the savings-and-loan crisis of the early 1990s. There are 106 so far, and more are expected. [read entire article here]
Excellent perspective on the banking problems. Also, look at the first comment. The commenter “ChowChow” is dead on, what a cycle this is becoming.
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