Need a Loan? If You’re an SBO, Forget It!
By Bill Willard on Oct 15, 2009 in Issue of the Week
The Issue:
Wall Street is back doling out the usual six-figure bonuses as if the U.S. economy hadn’t been in the tank for the past two years. But SBOs looking for routine financing are finding they’re still plumb out of luck.
What I Think:
How solid is our widely heralded economic recovery? It depends on where you are and what you do. Wall Street and Main Street, for example, occupy two very different financial worlds. While one enjoys a robust rebound and seems to be back in business-as-usual, the other continues to experience sluggish growth as it struggles just to get back on track.
Consider This: Our church is remodeling one of its buildings inside and out. The renovation includes replacing the roof, which must be completed before the rest of the work can get underway. Upon handing the job to the roofer, however, the contractor learned they’d be looking at a 6-8 week delivery turnaround. For standard roofing materials!
Why? Because of the unavailability of financing this year, the roofing company can no longer maintain its normal inventories based on the usual sales projections. It can only turn on the switch and begin manufacturing with orders in hand. Naturally, that throws our church’s roof job—and every other customer’s job–out of whack.
What Do You Think? Been out looking for financing lately? What was your experience? And how has it affected your business plans? We’d like to hear from you. Have you registered?
Bill Willard is a freelance writer in Clearwater FL. He has been a high-impact writer and editor for over 30 years. In addition to his byline pieces, Bill’s beat includes ghostwriting and editing for businesses of all types and sizes, professional practitioners and individuals, and is a www.thefreestyleentrepreneur.com Contributing Author. Visit his Website: www.writergazette.com/WillardAssociates.shtml
Or contact him at billw15@tampabay.rr.com.
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John Ingrisano | Oct 16, 2009 | Reply
I think that big business has nothing to do with capitalism or entrepreneurship these days. They nudge rump to rump beside the government trough in search of special favors. Oink! Oink!
The only remnants of true capitalism in this country today are what’s left of the small-business community.
Bill Willard | Oct 16, 2009 | Reply
The irony of that hideous Michael Moore agreeing with us about this is just about too much to bear! But so it goes!
Mr.Carrot86 | Oct 22, 2009 | Reply
Following the cancellation of the series, Marvel published a one-shot What if? ,
Coder51 | Oct 23, 2009 | Reply
Media headlines emphasize drug and alcohol abuse among youth, teen pregnan- cy, the rise in youth gangs, or school dropout rates and often leave it at that. ,