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Banks reject 60% of small business loans

The federal government doled out $30 billion dollars to small community banks to help small business get the credit they need. Instead of loaning the money to mainstreet, the banks repaid their TARP obligations. Only 4 billion or 13% of the money went to small business and I think it is crumb. The cake went to the banks to clear their books. This whole program was very disingenuous. It has become harder and harder for small businesses to get the credit they need.  

A recent study conducted by Pepperdine University found that 60% of small business loan applications were rejected ...


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