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Small Business Owner Credit Problems
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More than a dozen small-business owners offered anecdotes Thursday to Treasury Secretary Timothy Geithner and Small Business Administration chief Karen Mills about their struggles trying to stay afloat amid the worst economic downturn in generations. Seated around a rectangular table on the fifth floor of the Eisenhower Executive Office Building, the business owners discussed credit problems and stringent government regulations that are hampering their operations.
Woody Hall, the chairman and president of Diversapack, a film manufacturing company operating in several states, said the credit crunch is hampering its growth. The company, which has 700 employees, has been growing at an annual rate of 20 percent the last few years.
"We just opened up a new manufacturing facility employing 50 employees and expected to grow to 150 over the next few years. We basically had no bank financing," Hall said, adding that he was only able to get financing mainly through state and local grants.
"You're not the only one having this issue," Mills said.
David Barber, whose company Barber Foods processes poultry products in Portland, Maine, said he has experienced difficulty borrowing to make his business compliant with various USDA regulations. "We're not able to get the funding we need to make our business more efficient and effective," Barber said. "We're all for food safety. We just want regulation to be agile and smart."
Ahorre December 4, 2009 07:24 AM Franquicia de Servicios de Limpieza | Comprar Casas | Vender Casas | Garantia de Prestamos | La Puntuación de Crédito | Robo de Identidad | Prestamos Hipotecarios | Rescate de Ejecución Hipotecaria | Negocios | Franquicias | Entrepreneur
Credito - Finanzas - Seguros - Ahorrar Dinero - Prestamos | Tarjetas de Credito