Is a Small Bank Better for a Small Business?
News has been pretty dismal on the lending front of small business. With the news of bankruptcy filings of CIT Group and Advanta, it seems like there are little if any options for small business financing.
But the NYT is reporting that smaller local banks are moving in to fill that void. With charming slogans such as “Policies to serve your street, not Wall Street,” these banks are aiming to keep your business on Main Street alive.
Perhaps turning to the local bank on your street for your small business may not be such a bad idea. A small bank may be more likely to provide stability in today’s more somber economy. T
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