Beginning early 2010, after the Great Recession, when the American housing market blew up and the world fell into a financial crisis, conventional banking institutions, for example Chase Bank and Citi, were unwilling to extend credit to small businesses.
As a direct result of the housing debacle, banks reacted with a plethora of new internal regulation, making it almost impossible for the average small business to qualify for a business loan.
Worse yet, the Government’s intervention in saving the banking industry, brought with it more regulation, laws and strict underwriting standards, making it exceedingly unlikely for a small business to
