"Many of them have complained to me that the standards for borrowing have become a lot more strict since the recession," said Moutray, formerly chief economist of the Small Business Administration. "It's much tougher to get a loan today than it was in the past."Banking industry veteran Bob Seiwert agreed that lending standards have made it more difficult to get a loan, but he said banks are eager to lend to viable firms, and are even sacrificing on terms because demand is weak.
112-year-old US Apparel Maker In Pa. To Close
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