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Failure to Lend

Avatar Posted by BizBox under News
From http://bizbox.slate.com 5571 days ago
Made Hot by: DebMark on August 22, 2009 12:46 pm
BizBox's Anonymous Banker explains how the federal government's small-business lending program has utterly failed, and which banks are to blame.


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Comments


Written by DebMark
5568 days ago

The article makes one good point (not many ARC loans made) but undermines it with a silly point (banks are to blame). This was a stupid program to begin with, because banks could not charge any interest for ARC loans. Banks are profit-making institutions. They aren't going to make a loan if they don't make money on it. The fault lies squarely with the SBA. They screwed up, big time. If you were a bank shareholder you'd be calling for the head of the execs if they lost money by making idiotic interest-free loans. Sheesh! Dumb Obama bureaucrats.
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Written by deniseoberry
5570 days ago

Sadly, there is no bending the rules when it comes to these government loans. Excellent, but sad, story -- good read.
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Written by ShawnHessinger
5570 days ago

I really wish this was a surprise. But, of course, as I and I'm sure others in the small business community have said before, we're on our own.
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