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Small businesses face big problems getting loans

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The best thing about my job is that I get to go out and meet people who are involved in all kinds of small business ventures. For this story, I went to a place that repairs airplane propellers. They’re located down the block from Van Nuys Airport. It’s a kind of quiet place where they smooth out and refurbish propellers from small planes. The people who work there are all like family - in fact, two of the employees are brothers. Like other small businesses, they were not able to obtain loans to help navigate the economic downturn from traditional banks - even though the federal government had made money available. They did get loans in the end from a local non-profit, but lost months of potential recovery time in the process. Here’s a link to the story.

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Sharon Bernstein

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