define and the impact of credit crisis on small business?

Madge Voice: Dear Good Ash,The credit crisis is hitting small businesses in a BIG way. Suddenly the business credit cards used to purchase materials don't work. Oops, that bank went under...So, the owner goes to the bank to borrow money on behalf of his business to purchase the needed materials to make his business run. Sorry, they are not making business loans right now. So, the owner, who has been a member of that bank for over thirty years, decides to take out a quick signature PERSONAL loan. Hmmm, we will have to see if we can do that for you. (They have done this several times before and always gotten the money repaid). Eventually the bank decides to loan the money on a personal basis at 11% interest. How is the government responding to the credit crisis and the needs of small business owners? I have to ask, what government ?????...Show more