socialmedian: Cash is king for companies snubbed by banks

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Cash is king for companies snubbed by banks

Submitted by Asearvern from blog

Jul 02, 2009

Summary

It's no secret that small businesses and medium-sized companies have been struggling with banks cutting business lines of credit and denying applications for new loans.

But the Association for Financial Professionals reports that companies have been responding by hording cash until the economy recovers.

The AFP's 2009 Liquidity Survey revealed that 72 percent of companies increased or maintained their cash balances during the first half of the year.

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