Credit | Page 3

Business Accounting

Major Business Lender Against Ropes

CIT, 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 […]
Business Accounting

Car Dealers Reeling

Several reports this week warn that car dealerships are closing from coast to coast as a result of the financial crisis. Retailers of American makes in particular have been hit by a triple whammy: Shrinking loan and lease programs, decreased demand for SUVs and a decline in consumer spending. Earlier this month, National Automobile Dealers […]