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Smaller Companies Cite Tighter Credit in 3Q

Midsize companies hold bleak outlook, too, and more companies switch banks, survey says

By staff Writer | Updated on November 30, 2009

Credit remains hard to come by, according to Greenwich Associates’ latest survey of small to midsize U.S. companies. In fact, 86% of the smallest companies–those with annual revenue of $10 million or less–told Greenwich in September that it was becoming harder to secure credit in the third quarter, up from the 68% that expressed that view in July.

Among midsize companies, those with annual revenue of $10 million to $100 million, 65% said it was becoming harder to secure credit in the third quarter, unchanged from the view in the second quarter.

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