Small business owners: Credit crunch easing?

minnecon.smallicon.gif

My colleague Molly Bloom this week has been asking small business sources in MPR’s Public Insight Network if the credit crunch is easing.

We want to give MinnEcon readers a chance to weigh in, too.

Nationally, there are a few cautious signs the business credit climate is improving.

The Federal Reserve’s newest survey of officers from large banks found standards easing this spring on commercial and industrial loans to small firms for the first time since late 2006.

Click on the Fed chart for a larger, historical view.

smallbizcredit.JPG

Small firms are those with less than $50 million in annual sales.

That report gave the National Small Business Association hope that conditions were improving, though the group called it only a glimmer and said “access to sufficient credit remains a pronounced concern for America’s small-business owners.”

Last year MinnEcon got schooled by Minnesota small business people on the challenges of surviving in the recession.

Our sources then were telling us it was difficult to impossible at times in this recession to get the credit needed to run a small businesses.

So tell us now what you’re seeing and help us put together future posts and stories.

Are you seeing credit easing? What could help strengthen your business? Post something below or contact us directly.

Comments are closed.