09-01-2012, 12:59 AM
swampy wrote:
Obama care kinda sets the bar for what a small business is. A business ith less than 50 employees is exempt from Obama care or any penalties.
The new banking rules (Dodd-Frank) are too restrictive and make it very difficult for small local banks to lend to small local businesses. Besides the red tape involved is very discouraging for applications. I used to be able to walk into my local bank and borrow $15-20K on not much more than my good credit and a hand shake. Those days are gone.
The ACA has nothing to do with why banks aren't lending to small businesses of any size. And don't blame regulations. Loosening regulations is one thing that started this whole mess. One reason people like us can't get a loan like in the old days is who is going to loan any money when what caused the collapse hasn't been fixed and won't be fixed by this or any near-future congress? Who has good credit from the lender's point-of-view these days when a slip-up can bankrupt the most trustworthy of people?
It may be a little of a stretch, but considering what Mitch McConnell said about making Obama a one-term president, I think there's a good case that banks are withholding money now so they make make a bigger killing in the future when things really go their way.