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.
Small businesses expecting Congress to do something helpful — like improving the flow of capital to creditworthy entrepreneurs — have been disappointed once again.
Legislation that would improve access to capital is snarled in the usual Democrats vs. Republicans politics. We shouldn’t be surprised. Partisan politics rarely brings out the best in our elected leaders.
Bickering over small business legislation will heat up when the fall campaigns crank up after Labor Day.