Several reports in the last few weeks indicate the credit crunch may be easing. Banks may be making loans again after too many months of sitting on their vaults.
For way too long creditworthy small businesses have had a difficult time getting the financing they need to grow and create jobs.
If reports of an easing credit crunch are true, it’s about time. Now, if we can convice the big business to start spending some of the record profits they’ve been hoarding, we might see a real dent in the jobless rate.
WSJ’s Marketbeat blog: Shocker!: Banks are starting to lend again
On Sunday, the News Sentinel and Knoxvillebiz.com, take a look at how the credit crunch has slowed development of Pellissippi Place, a technology business park being developed by Knox and Blount counties and the cities of Alcoa and Maryville.
Access to capital is hurting commercial development across the country. Both small businesses and public-private groups like the Industrial Development Board of Blount County, which owns Pellissippi Place, are having trouble getting loans.
Help could be on the way. But politics could get in the way. Now there’s a surprise.