Business Size Credit Line

I own my own business. In the last few days I have talked to or chatted with DOZENS of business owners, directly, or thru various social networks I belong to. The consensus is NOT ONE OF US PAYS CURRENT OBLIGATIONS, EXCEPT THRU CURRENT REVENUE. Nearly all of us have lines of credit, which HAVE NOT BEEN REDUCED OR TAKEN AWAY, and which we only use for expansion/capital improvements. In other words WE HAVE NO "CREDIT CRUNCH".....So, my question to you all is this: Who is going to suffer from a tightening of credit?

My guess is the Wall Street banks and brokerages who created this mess, not the Main Street employers who will, maybe, have to delay expansion plans, or not buy the latest computer systems - but we will get by. Seriously, America, you are being sold a bill of goods with this bailout - and it isn't going to help the vast majority of you who work for small and medium sized businesses.
Exactly - the only specific problem I have heard is MCDONALDS might have to slow down their coffee bar expansion plan......hardly the end of the world.

Hmmm. Interesting. Large organizations seem to be in a different boat. We must be bailing out Wal-mart and Exxon who leverage.

Good to know.

Thanks.

2008-10-02 16:36:07 by Dave Holman

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I am looking for the number of companies that have loans or lines of credit of between $50,000 and $50 million? It is better if I can have this divided by size of loan and by jurisdiction (e.g., US, Canada, European community, etc) and by type of lenderm (e.g., bank, VC, insurance company, etc).

marriottschool.byu.edu/cfe/resources/QuickStart/... - 94k - View as html - More from this site - they are offering the amount you suggested.-50,000 to $50 million

2006-09-10 09:20:50 by george

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Small businesses who have the size to hire people almost all fall over Obama's rich line and will be savaged by the tax increase. They will also be damaged by the upcoming interest increase in borrowing money. Those businesses are THE ONES who always push a recovery, and now they are hamstrung, and they will not this time.

And those small businesses which will see tax cuts? Those are really not anything to help, and those will be more than offset by the cap in trade which will increase everyone's energy prices, and the higher interest rates to come, so they will be hurt on the net numbers also.

Do you really think Obama wants to have a recovery? He and his buddies are doing fine. They get more power the more put down we all are. Considering that he is doing exactly what will hurt the economy, as democrats did when they obstructed fuel resources and created the credit crisis which seems to have been done purposely unless they are the hugest morons in the history of the world, do you think Obama really wants a recovery?

You have to doubt that Obama is genuinely attempting to pull us out of what the democrats seem to have purposely put us in to. If so his administration is the most clueless since the Carter administration, and maybe worse than that.

I think it's deliberate, that they are purposely putting us in this position to change the US into a socialist state, so the democrats can hold more power. I don't think they think about the little people for one moment, except how they can fool them into voting for them.

I think that the billionaire elite who are mostly billionaires are in this with them. They control most of the media and entertainment industry and those have been pushing to the point of ridiculousness, lying right in the face of the people over issues, manipulating by character assassination on one side, and hyping those on the democrat side.

I think if people don't open their eyes, we are beyond screwed. We are in so deep right now it would take generations to recover from it.

2009-03-03 09:41:38 by omegahpla

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My father started a small business in 1993 with $500.00.....no government assistance, no loans other than a home equity line of credit for times in need. This year his company did roughly 8 million dollars. He employs 31 people (most have been with him for 10 years) with generous wages, pays their health insurance in full and provides profit sharing through a 401K program. He gives generous Christmas bonuses most would envy and has bailed many of his employees out of hard times they have faced without asking for repayment. He works 12 to 16 hour days, 6 days per week and faces incredible personal risk should something go wrong on one of his jobs. He has never defrauded the government, has no off shore accounts, CAN NOT pull deductions out of the air (as most people wrongly believe), gives thousands to charity, lives in a modest home, drives an American made truck, and is one of the most humble men you could ever come across! He is a very hard working man from a poor background who had a will to do better for his family, with no education beyond high school.

Last year, after expenses, (payroll, building materials, equiptment, compensation insurance, liability insurance, health insurance, equiptment maintance, gas, utilities, insurance, insurance, insurance, etc.......), his gross income was a bit over 1 million dollars. He paid the government a little under $370,000 without complaint....netting him about $650,000.

THIS is the profile of many who have small to medium size businesses. Should he honestly have to pay more than what he already does to our government?
My father provided myself and my siblings with our educations. At graduation he handed me the keys to a car and lovingly told me to he had provided me with the "tools" needed to be successful, the ethic of hard work and to never ask him for a dime. I never have.
Yes, I got lucky with the car...also a modest american made vehicle.

No man he shouldn't, he's done his part, that's a true American.

2008-09-19 11:12:39 by mimi

The present bill spends $1 Trillion per year for the next 10 years.

What, if anything could be done for healthcare for a mere $100 Billion per year of the next 10 years? Here's one possible outline, but I would like to hear yours:

1) Spend $75 Billion per year for the next 10 years on Primary Care clinics managed by the Red Cross near the emergency room entrances of 2500 hospitals in USA. These clinics would be staffed by 3 physicians each (paid $166,000) per year and 10 Red Cross Volunteers (paid in refundable tax credits at $100/day), and one or two Pharmacists, or PA's to dispense prescription meds from the on-site pharmacy. Security would be handled by Kroll or Blackwater or Pinkerton's or somebody like that on a roving and on-call short notice basis, so one security team could cover 4 or 5 clinics in a big city. The cost of renting the office space and the cost of the medications, and disposables, and tests, and electric, and water would be additonal costs. 2500 clinics, fully staffed and supplied for $75 Billion per year, and this includes the Red Cross's fees for management of the system.

Since this is government provided health care on a good samaritan basis with no charge to the patient, there is triple legal immunity (soveriegn, samaritan, and charitable). The patient don't get to sue. But they do get some healthcare -- maybe not the Cadillac coverage but real good Primary Care -- which is crucial because it cures and it also prevents. The meds can be acquired through a piggyback order on the VA's annual order, thereby getting an even bigger price break, maybe as good as Canada gets!

2) Now there's $25 Billion per year left to play with, how should that be used? Here's how: Use about $20 Billion to re-organize health insurance so that all insurors can offer coverage in all states, or most. Do not force insurors to insure people with pre-existing conditions. Let them run their insurance business along the regular lines and practices of insurance in the various states. In Maryland, we have a high risk pool, and all companies that sell insurance here must take a certain percentage of cases assigned out of the Maryland resident high risk pool. This amounts to a bearable not an unbearable burden for all the firms.

The other $5 Billion would be used for Tort Reform. Getting a Federal standard for damages in medical malpractice cases, and then forcing those cases into the Federal Courts, so that trial lawyers couldn't suck the blood out of the solvency of the practice of medicine as they are doing now (author = member of ATLA -- the people I'm talking about = me). Once tort reform is well begun, there needs to be more careful and frequent Board Certification of physicians. The doctors have to get a lot better if they are to be freed from oppressive lawsuits. They get better by closer regulation instead of by being terrorized and made examples of by sharky lawyers. This would cause all medical fees to go down. Less insurance costs means better priced services for patients.

This is one 10% Plan that I think would work 1000 times better than the Obama/Pelosi/Reid huge Break the Bank Megaplan.

But I want to hear your 10% plan -- Here's $100 Billion per year for 10 years, how would you spend it? Is there anybody health in USA that could be made better with that kind of money? How would you do it?

To get the $100 Billion, just close down one of our wars Iraq, Afghanistan, take your pick, it doesn't matter, closing down either one would save $100 Billion easy.

So, here's the money, what the plan Boss?
Comments for Serge and Warren:

Serge -- Herculean effort -- your post is substantive and good. Too socialist for me -- whenever the word humane is used I always check to see if my wallet is still there. Here's what I don't object to -- your 3% healthcare tax on all payroll including the super-earners. Good, that's fine. Your idea of training more healthcare workers by subsidizing tuition -- farsighted -- good idea.

Don't like the idea of putting everybody on Medicare. How is that fair? Some people have earned Medicare by 25 years of work and paying FICA, some have not.

Warren: Good ideas -- it looks like the GOP list. There's a possibility that the debate will result in an amendment that substitutes a much smaller and simpler bill for the present 2000 page monstrosity. Tort reform, and insurance across state lines are the biggies. But there must not be a requirement to insure people with pre-existing conditions -- that is not insurance -- it's just welfare -- it's a freebie!

This is one of those 'you can't get there from here' situations. First of all, we are depending upon our elected servants. Yes, servants. We are paying them to do the jobs they campaigned for. We, the people, can't do much more.

The biggest problem is that once upon a time, we had a medical profession. It became a medical industry. Industry. Big business. Big profit maker. That is a bastardization of everything the healing art was intended to be. It used to be that way, an altruistic calling to help humanity.

And so now we have on our hands an industry that is greedy for maximum profit.. Weaning the investors away from sucking the well dry, while increasing the care factor.. quite a task. The addiction for utmost profit from minimal service has been entrenched for decades now.

Our capitalistic country has lost it's 'checks and balance' structure. Capitalism is like a fire. Both can serve us well. But like a fire, capitalism is extremely and endlessly 'hungry' in it's eternal quest for 'growth' - growth.. a favorite term of any capitalist. With the fire, we need a furnace.. else the house becomes the source of 'growth' - not a desirable long term plan. As it is with capitalism.. the hunger for 'growth' has consumed our nations GNP to an alarming extent. Capitalism has no 'furnace' - aka: checks & balances' to contain it, like it once had, circa 1960's. And at the same time the benefits have dwindled. The law of diminishing returns has presented itself to the patient.

The only way I can see for us is to make medical care a right for all. Medicine must be a profession. Everything but elective procedures should be provided cost free. Elective medical care must be left to the 'medical industries' business. That, of course, is a pill the 'industry' will fight tooth and nail. They have the bottomless pockets to fund the battle. We only have our elected servants to fight for us.

Yes, wars are stupid and senseless. But there too.. war became a vast enterprise. It is our monster that lurks below our radar. Most Americans aren't aware of the vast, worldwide network of bases and manpower that have grown out of World War 2, never to be closed but to expand and expand.. the 'defense' industry is immense. For the 2009 fiscal year, the base budget of the Department of Defense rose to $518.3 billion. Adding emergency discretionary spending, supplemental spending, and stimulus spending brings the sum to $651.2 billion. Defense-related expenditures outside of the Department of Defense constitute between $274 billion and $493 billion in additional spending, bringing the total for defense spending to between $925 billion and $1.14 trillion in 2009.

Trying to 'apply the brakes' to either 'industry' is like trying to drag ones shoe in order to stop a runaway freight train. We are in quite the pickle..!!

2009-11-22 13:50:53 by dolphin314etc