Small businesses, especially new ones, are the primary source of new jobs and innovations in the American economy. For that reason, economic growth depends on a constant stream of new businesses with new ideas. However, since the financial panic of 2008 to 2009, small businesses have found it difficult to borrow despite a growing mountain of excess banking reserves. Why is this the case? What are the implications? What can and will be done to resolve it? We’ll explain.
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