Michael Levy, whose firm makes digital frames, said that after the financial crisis, his traditional bank refused to finance a big order he received.
When the Banks Don’t Lend
With banks timid about lending, small businesses, such as Media Street, have turned to unconventional lenders like Hartsko Financial Services, which provides high interest short-term loans to small and midsize companies. Coverage begins on the front page of todays Business Section, Sunday, January 31st, 2010.
There is also a Video of the segment: http://video.nytimes.com/video/2010/01/31/business/smallbusiness/1247466791093/when-the-banks-dont-lend.html
There is also a New York Times Blog of the “Print” Article http://www.nytimes.com/2010/01/31/business/smallbusiness/31order.html
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