Washtenaw County businesses give nation glimpse of bank loan fallout
The relationship among lenders, small businesses and existing real estate loans gave U.S. readers a glimpse into how lending is stalled by new dynamics behind evaluating risk.
A Wall Street Journal article called "Loan squeeze thwarts small business revival" features Bank of Ann Arbor, Michigan Ladder Co. in Ypsilanti and Saline-based builder Peters Building Co.
According to the article: "A year and a half after the financial crisis hit, the U.S. credit machine is still malfunctioning. During the boom, credit was too abundant. Now the pendulum has swung. "
Read the story here.
Comments
Snarf Oscar Boondoggle
Mon, Mar 15, 2010 : 9:45 p.m.
saw mr. harrison on kudlow report tonight. bank of ann arbor, this is a local business (as you are) who keeps michiganders WORKING... make the loan; prevent impending unemployment. oh, i can move my account, if you wish.
AlphaAlpha
Mon, Mar 15, 2010 : 8:03 p.m.
If you are upset with the multinational banks, you can make a difference by moving your money to local banks: http://moveyourmoney.info/
MB111
Mon, Mar 15, 2010 : 12:53 p.m.
Good summary of today's problems
uawisok
Mon, Mar 15, 2010 : 11:25 a.m.
"Michigan Ladeer Co." Might want to fix spelling typo...Ladder...