Top Trending: Employers Are Paying Freelancers Big Bucks for These 25 in-Demand Skills

Major Business Lender Against Ropes

  • ---Shares
Reader Resource

Apply now to be an Entrepreneur 360™ company. Let us tell the world your success story. Get Started »

tug-o-war.jpgCIT, a major lender to small- and medium-sized businesses today sought federal help to avoid a potential collapse.

The institution's woes could hurt already struggling businesses that rely on CIT for cash flow lines of credit that allow them to keep inventory at proper levels. As a result, some experts are speculating that consumers could see less variety on retailers' shelves come fall and extending through the holiday shopping season.

Meanwhile some critics are pointing out that the Obama Administration has failed so far to step forward with a bailout. Some are piling the CIT situation atop a litany of complaints they say add up to an anti-business administration.

"Letting them fail is another huge blow to companies in our realm," Brett Parker, chief financial officer for Strike Holdings LLC, a bowling alley chain, told the Wall Street Journal.
OK

This website uses cookies to allow us to see how our website and related online services are being used. By continuing to use this website, you consent to our cookie collection. More information about how we collect cookies is found here.