Small businesses that cleared the hurdle of the coronavirus shutdowns are now encountering an all-too-familiar obstacle: Banks don’t want to lend to them.
The Paycheck Protection Program funneled $525 billion in forgivable loans to millions of small businesses in the pandemic’s early days. Yet that massive infusion masked a yearslong contraction in small-business lending that happened alongside a big-business borrowing boom. In 2007, banks held $721 billion in small loans to businesses and small commercial mortgages of $1 million or less, according to an analysis of bank regulatory filings by Florida Atlantic University professor Rebel A. Cole. By 2019, such loan balances had fallen around 6% to $680 billion. Bigger business loans and commercial mortgages, meanwhile, more than doubled to $2.82 trillion.
There are a few reasons for the credit chasm. Thousands of community banks disappeared over the past decade, removing the main funding source for many of their local businesses. Small loans are also far less profitable: Bankers say itLenders have further pulled back during the pandemic, tightening underwriting standards for small businesses this summer to a degree unseen since the last financial crisis, according to a Federal Reserve survey of loan officers.
Big Government just trying to squeeze the life out of small business and ordinary people doing it for there friends in the big banks, as they work together as a team. it is a total scam.
OpenOutcrier Only lend to the most credit worthy customers, makes sense to me. I don’t want my bank making risky loans!
😬
Thanks to the Dark Lord
cc AOC SenWarren SenSanders RepKatiePorter Yet DUMB IDIOTS federalreserve said: banks are doing fine (after backstopping ENTIRE US mortgage mkt & various other PRIVATE bonds to bailout wallstreet) & banks can pay div & buyback stks & stk options
After the 2008 bailout banks took 100s of billions to buy back shares while lending dropped to below lowest of charts levels. Why would they do differently now.
Ability to repay ring a bell ?
Democrat shutdowns means more small businesses are going to close.
And the divide deepens...
Shutdown = kills all little fish
Which financial crisis? You know us in the 99% have seen a few now
ENCOURAGE SMALL BUSINESS TO FOR SELF EMPLOYMENT, ENTREPRENEURSHIP. RETAIL NEEDS TO BE IN THE HANDS OF SMALL BUSINESS, TRADING, STOCKS, SUPPLY IN MEDIUM BUSINESS, ONLY LARGE FOR MANUFACTURING, INFRASTRUCTURE FOR FAIR BUSINESS, CONSUMERS' WELFARE OF FAIR PRICE, QUALITY, SUPPLY.
THEY HAVE SURGED BECAUSE THEY WERE NOT HURT , THUS AN INVESTMENT IS MORE SECURE FOR THE MONEY LENDERS, ALTHOUGHT 70% OF THE WORK FORCE IS IN SMALL BUSINESS , IT'S ALL ABOUT PROFITS NOT HELPING THE MIDDLE CLASS IF THERE IS SUCH A THING ANYMORE.
The banks are showing the small business guys no mercy in this global emergency. is it time to revolt against them?
Bankiers always support the wrong.
Banks are not about the small guys. They take our deposits and then use that money to give loans to the big guys while making it almost impossible for the small guys to get some. They tank the economy and then beg for Tarp loans. They’re crooked i.e. Wells Fargo and BOA etc.
Counterproductive 🤦🏿♂️
You know what large businesses have? Substantial capital. Staying power. Valuable brands. That's why they can get loans easier. Small business typically have none of those.
ME and the oil man gonna handle it ... But anybody wanna show some guts and ask the tough questions to the fbi mobsters in the money printing rooms that enslaved us money to buy ErF resources that supposed to be FrEE ? Or yall just gon wait on spider man to save the day
The Fed has opened the corporate welfare tap full throttle to banks that in turn earn gazillions with sweetheart deals to megacorporations. Yet said banks turn their backs on the small businesses that are the backbone of American enterprise. What'll happen when they're all gone?
Considering it’s our money I’m happy with that decision.
The consequences of nationwide policies that favor packed big box stores in favor of closing tens of thousands of small businesses.
This means the proposed changes to the Fed program to provide money under old PPP just made it impossible for small businesses to survive.
🇨🇴La cadena de noticias Fox ya se une a Trump. Es tan evidente en fraude que ya nadie lo duda. 🇺🇲The Fox news channel already joins Trump. It is so evident in fraud that no one doubts it anymore.
America has ditched small businesses since 2000.
FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS FUCKERS
Bank = organization that will lend you money if you can prove you don't need it.
sunchartist They need money for the new buybacks sponsored by federalreserve
Again...if your not wealthy your screwed.
All part of the Plan-Demic.
The great reset is here.
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