No Loan Demand From Small Businesses; Weak Sales Top Problem
William Dunkleberg from NFIB on CNBC Squawk Box says there is no demand for loans from small businesses. The percent that say they don’t want a loan has risen by 10 points since the beginning of the recession to a record high. Most “good” borrowers are on the sidelines, still waiting for a reason to seek a loan and expand their businesses. What businesses need are customers, giving them a reason to hire and make capital expenditures and borrow to support those activities. Twenty-nine percent cite weak sales as their top business problem.
See the full NFIB (National Federation of Independent Business) report here.