Banks Still Not Lending But Don’t Take Our Word For it
Originally published 4/21/11
We’ve preached that banks aren’t lending and we feel confident in that assessment. This was today’s news headline:
According to Fortune, the four largest banks have reduced their loan balances by $210 Billion over the past year. Now about three years out from the height of the financial crisis, capital is becoming harder to access, not easier. “That’s partly because banks must put the worst mistakes of the bubble era in the rearview mirror, by taking losses on bad loans and letting other low-quality portfolios run off. Both those moves lead to lower loans outstanding.” With no tolerance for anything but the highest quality borrowers, business owners have few places to turn.
Now just might be the time to look into a Merchant Cash Advance...
– The Merchant Cash Advance ResourceLast modified: February 21, 2013
Sean Murray is the President and Chief Editor of deBanked and the founder of the Broker Fair Conference. Connect with me on LinkedIn or follow me on twitter. You can view all future deBanked events here.