Banks in both the US and Europe have been tightening lending standards and reining in credit available to corporations of all sizes in 2023.
That is always a particular problem for small and medium-size enterprises.
Banks love to paint themselves as great supporters of small business, but in truth they are built to make larger term loans to big corporations that also buy other financial services.
Short-term credit to small companies is expensive to underwrite and administer and has never been a driver of bank profits.
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