Local Agency Works to Secure Small Business Loans
The House of Representatives is supposed to vote again today on a plan to rescue ailing financial institutions. Americans have been hearing that if nothing’s done, the recent collapses on Wall Street could destroy many small businesses. They might not be able to get the credit they need to continue operating. Credit has already tightened.
In fact, the local Small Business Administration office announced Wednesday that it’s written 13 percent fewer startup loans this year compared to last. WUWM’s Marti Mikkelson visited a business incubator in Milwaukee to learn how start-up companies there are being affected by the tightening of credit.
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