Washtenaw: Lending Squeeze

In a case study of how the nationwide lending crisis is affecting small businesses, the Wall Street Journal looks at the complex relationship between Michigan Ladder in Ypsilanti, home builder James Haeussler and the Bank of Ann Arbor. The bank’s president, Tim Marshall, describes how even healthy banks like his are being cautious lenders: “It’s kind of a vicious cycle. Anytime you’re in an economic environment like we are, bankers are going to be more conservative.” [Source]