Since 2008, small business commercial loans have dropped by more than half.
Ricciardi reported that, “JP Morgan’s Securitized Products Weekly report, shows the decline in loans distributed to the commercial sector from Sept. 2008 to Aug. 2010.
“In Oct. 2008, small business loans exceeded large business commercial loans at just under $850 billion. Small business commercial investments now barely exceed $380 billion. Loans for larger businesses is now at $390 billion.”
The story also reported that according to the National Federation of Independent Business, a net 13% of small businesses found credit harder to get in July. That is not far behind the record high of 16%.
To read the complete story by Ricciardi go to: Restricted credit for small businesses driving delinquencies up