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Real Estate Doldrums May Open Door for Small Biz Deposits, Cards

With a growing number of lenders continuing to tighten their standards, credit unions hoping to grow small business loan operations may be missing other opportunities to establish long-term relationships.

By Michelle A. Samaad | Updated on July 21, 2009

With a growing number of lenders continuing to tighten their standards, credit unions hoping to grow small business loan operations may be missing other opportunities to establish long-term relationships.

Fabio Biasella, vice president and managing director of strategic advisory services for Raddon Financial Group, seems to think that’s the case. In a recent National Venture Capital Association survey, 56% of small business borrowers said their credit lines were tightened in 2008, he said. The trend has certainly carried over into 2009 with card companies literally shutting down lines used by many entrepreneurs to keep their businesses afloat.

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