Pain Spreads as Credit Vise Grows Tighter

This is certainly going to have an impact on small business owners across the board. Limits are being cut in half and rates are going up.

The latest outgrowth of the housing crisis, the breakdown on Wall Street, threatens to gradually corrode economic activity on Main Street, mainly by disabling the credit on which so many everyday transactions depend — but also by frightening people.

Lenders of all types had already been raising the bar for borrowers, turning away all but the best customers. This week, they became even less willing to part with their money, further crimping budgets and family spending.

Pain Spreads as Credit Vise Grows Tighter – NYTimes.com

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