Posted at 10:36 AM on September 9, 2009
by Julia Schrenkler
Join Public Insight Journalism's Michael Caputo and Paul Tosto at 12 noon CT today as they host Getting around tight credit: a virtual forum:
Small business owners are facing a new reality with credit. Nearly 60 percent of them rely on plastic, according to the National Small Business Association.
But the credit card market is shriveling up. American Express shut down two small business lending programs early this year. In June, Advanta cutoff credit extensions. Meanwhile, a major lender to small and medium sized businesses in the U.S., CIT Group Inc., needed a bailout by its bondholders last month to continue to provide financing.
So what do business owners do when they can't access a main source of financing?
Caputo and Tosto invited entrepreneurs to discuss the facts around credit and financing a business. Join us for this special online only forum to share your questions and comments about running a business in this market.