Access to credit remains a challenge for small business

Bloomberg News: The Federal Reserve Bank of New York said tight credit restrained the growth plans of many small businesses in 2012, citing a survey of lending in its district conducted in March and April.

Nearly half (49 percent) of firms polled cited access to capital as a barrier to growth, but only a third of firms actually report applying for credit in the last year. While the concern was mostly (66 percent) among those firms operating at a loss, 36 percent of profitable firms also reported difficulty getting the credit they needed to expand their businesses.

Fed New York Survey
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