Will the bailout make it easier for you to get a business loan?

ShannonCherry — Fri, 26 Sep 2008 16:55:11 +0000

While Congress is working on a bailout plan for the banking crisis, I’m wondering how much any help will end up helping small business.

Loans are few and far between. And I have a feeling that there won’t be anyadditional funds for business loans.

A Gallup poll of 610 small business owners in July conducted for Wells Fargo found that only 14% had difficulty getting credit, while 41% said it was easy, although a membership survey in August by the National Small Business Association found that two-thirds of business owners had been affected by the credit crunch.

The U.S. Chamber of Commerce said it is hearing anecdotal reports from small and medium-sized businesses across the country that normal business loans are getting tough to secure, even at higher interest rates.