ECON300-Current Event #11

One affect the great recession has had a significant impact on is the loan industry. Banks are being pickier than ever about whom they will loan to and for what rates. These days it is typical to expect some sort of collateral whether it be healthy credit scores or tangible assets. In a market where small business owners and entrepreneurs are constantly emerging, this is proving to be a difficult option given the current state of the economy. Many of these small business owners don’t own any tangible assets and therefore are turning to cash advance organizations to get the capital they need. The demand for these businesses is going up despite their astronomical interest rates
Powered by