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Credit Harder to Come By

Small and midsize companies struggle

By Susan Kelly | Updated on January 17, 2011

While the economy is showing signs of life, many small businesses still have a tough time getting banks to lend them money. In fact, half of small businesses say that it is harder to obtain credit than it was a year ago, including 33% that say it is much harder, according to Greenwich Associates’ most recent quarterly survey. Just 15% of the small businesses say credit conditions have improved.

The Greenwich survey, conducted in October, shows that while midsize companies enjoy somewhat better credit access than small firms, 35% of them say credit is harder to come by and only 25% say it has gotten easier to get a bank loan.

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