WASHINGTON — Cash flow issues continue to plague a significant number of America’s small businesses, according to the results of a new survey by the National Small Business Association (NSBA).
Access to Capital Survey findings show that nearly half (43%) of small-business owners report that they needed funds at one point in the last four years and were unable to find any willing sources.
“Not only have small-business owners been unable to find new credit over the last four years, nearly a third had their existing credit slashed and one in 10 had their loans called in early,” says NSBA President and CEO Todd McCracken.
Among the small-business owners who reported some change to their credit, 60% stated that the reason given was the bank’s internal risk assessment. Fifteen percent said they were given no explanation for changes to their credit.
Only small community banks and credit unions received a majority overall positive rating among small businesses asked to rate various lending institutions.
