Yeah. The bigger problem is in the past 30 odd years, according to some reports, this place has remained shut for over 7 years. 7 years of no business, no schools.
Granted it was usually for weeks at end with respites and all but the fact remains I live in a very uncertain place.
Funny that you mention banks lending to those who dont need it. I have a client who is paying a 20% interest on a mortgage backed loan. Mind=blown. Why? Because the particular bank has made it easy to get a loan, you call them and they give you the money in a couple of hours. That is a selling point here, not total interest outlay or processing fees.
Yes. You are right. Businesses do take a loan to delay "folding" in hopes of better days. Its just really bad.
For me, the issue is my clients get more sales, that is more fees for me. Once that falls, it affects my bottom line directly and the stuff follows down.
Sad
Granted it was usually for weeks at end with respites and all but the fact remains I live in a very uncertain place.
Funny that you mention banks lending to those who dont need it. I have a client who is paying a 20% interest on a mortgage backed loan. Mind=blown. Why? Because the particular bank has made it easy to get a loan, you call them and they give you the money in a couple of hours. That is a selling point here, not total interest outlay or processing fees.
Yes. You are right. Businesses do take a loan to delay "folding" in hopes of better days. Its just really bad. For me, the issue is my clients get more sales, that is more fees for me. Once that falls, it affects my bottom line directly and the stuff follows down. Sad