Credit crunch leaves small businesses wanting
At last week’s White House Jobs Summit, small business owners from across the country pressed President Obama on dozens of issues related to the economic downturn. Credit, though, was a central issue: The credit crunch has prevented thousands of businesses from obtaining loans to expand, shift gears, or even just fund day-to-day operations. Today, Maryland governor Martin O’Malley will unveil a strategy intended to help small business owners get credit. One such business owner, Dawn P. Jackson, is the owner of NuDawn Marketing Group in Maryland and president of Women Business Owners of Prince George’s Country. Dawn hoped to expand her small marketing business, but she has been discouraged from applying for credit after several banks told her that she was unlikely to get any. Maryland’s Secretary of Commerce, Christian Johannson, joins us with a preview of what the governor’s plan entails.
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