Small business owners are hurt by the economy and looking for banks to lend more, according to a new survey by the American Sustainable Business Council, Main Street Alliance and Small Business Majority.
The recent drop in consumer demand, as a result of the housing and mortgage crisis, has left 73 percent of small business employers still feeling the pain of an economic slump, according to the survey.
Ninety percent of small-business owners want small banks and credit unions to be allowed to increase lending. More than 60 percent of these employers say it's tougher to get a loan today than it was 4 years ago.
And while 77 percent surveyed support creating incentives for community banks to lend more, 83 percent said they wanted to see tougher regulation of credit cards.
More than half of the small business owners surveyed said that reducing the principal on underwater mortgages to the current market value would boost consumer spending and help small businesses start to recover.
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