Small businesses could soon see lines of credit canceled from banks as the global banking crises, inflationary pressures and rising interest rates slow commercial lending.
Javier Palomarez, president and CEO of the United States Hispanic Business Council, discusses the Silicon Valley Bank collapse and its detrimental impact on small businesses’ access to capital."Unexpectedly canceling lines of credit in tech would be the equivalent of pulling the emergency brake on your car driving down the interstate," he said.
Employees work on the assembly line at the Dakkota Integrated Systems manufacturing facility in Detroit on May 5, 2022. Meanwhile, the latest ADP jobs data showed that jobs in financial activities , professional/business , information and manufacturing lost jobs in March.JPMorgan Chase CEO Jamie Dimon warned
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