Fed governor on small business credit
Small businesses face difficulties in accessing credit, while at the same time credit demand from small business has declined, said Randall Kroszner, the governor of the Federal Reserve responsible for supervision.
Kroszner said that credit appeared to be available but that small business faced tougher standards and higher cost. He added that the weakened state of the economy and the resulting drop in demand for the products of small businesses appeared to be a more serious challenge.
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