Summary
Casualties of the credit crisis include surveillance and security firm American Sentry Guard, which had to fold in August after a couple of customers went bankrupt and New York-based JP Morgan Chase & Co. pulled the plug on a line of credit. About 57 percent of economic development professionals nationwide reported insufficient credit for businesses and reduced business spending in a September survey by the International Economic Development Council, while 71 percent have seen halted or delayed real estate developments.
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Extract
Lockdown
Local companies that rely on credit have seen their borrowiong power shrink and in some cases disappear as a deep freeze in the nation's credit markets drives fears of a broad economic slowdown.
A handful of businesses, including a Greenwood security firm and an Indianapolis contractor, already have shut down after credit dried up, and others are on the ropes as ...See the full content of this document
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