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Friday, June 1, 2012
Due to the bad economy, small business lending companies become more pessimistic. Loans for small businesses have decreased over the last couple of months.
Hiring for small businesses have slowed down in May because company owners are reluctant on hiring or expanding with such an uncertain economy.
PayNet, which is research company that keeps track with loans for businesses, report on new loans and leases granted to small businesses in its database. PayNet says that companies were only buying and leasing equipment to take advantage of tax deduction.
Dun & Bradstreet Credibility Corp., which is a credit reporting service, reports that 64 % of businesses say that getting financing make it hard for their business to grow. 55% of businesses say that they are restricting their hiring plans.
Article by: Zandra Hall
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Keywords: Small business, lending for small business,PayNet,Dun & Bradstreet Credibility Corp
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