I still use banks for low interest mortgages and a place for daily financial transactions. But too many times, my dealings with banks like PNC end up disappointing me. They never seem to focus on the customer experience despite the lip service in their advertising. My latest instance of this was working with PNC to […]
The biggest issue facing the recovery of our economy is the lack of credit for small business owners. Forget about all the stimulus money that President Obama and the SBA push at banks, they still aren’t lending. Their balance sheets get better, they may even pay back some of the stimulus mone, but so […]
My bank no longer loans money to businesses. However they do offer coffee and cookies in their lobby. Fair trade wouldn’t you say?
Since the crash last Fall, businesses have been hurt by a lack of new lending from banks and the cutting of their existing credit lines. But, good old American ingenuity is filling the […]
Credit is tight for everyone. Gone are the days when you received 3 new offers in the mail everyday offering you a new card or 0% interest on balance transfers. Banks are also cutting their grace periods for paying your balance in full from 30 days to as short as 9 days.( I received my bill from […]
Today we talk about something that is plaguing every small business- the credit crunch – you may be facing this credit crunch in this recession by the bank cutting your credit line, or not extending new credit or your customers may be paying later than […]
More and more these days, I feel like a bank. I have counseled my clients for years that they should not take on this role with their clients by extending payments terms to them that hurt their business.
But with the Great Recession in full swing, small business owners are finding ourselves more and more in […]