By Derek Spellman

dspellman@joplinglobe.com

As stocks surged Monday and Wall Street barons met the Bush administration to talk about the bailout, Gary “Cat” Johnson was thinking about his business, that, while not on Main Street, is close.

Business at Cat Johnson Auto Sales, 1522 Broadway, Joplin, has been “kind of spotty” but “by no means in the tank,” he said.

Around the country, some auto dealers have been hard hit by tightening credit after the collapse and/or bailout of Wall Street companies, but Johnson says credit is not a problem either for him or his customers.

“Localwise, it’s not too bad,” he said.

Johnson said he is more concerned about customers who, unnerved by what they have been hearing and reading about, will grow skittish because of the “negativity in the news.”

While there are accounts of businesses — especially small businesses — being shut off from lines of credit and struggling to get short-term loans for inventories or payroll, a survey of Joplin area bankers, businesses and developers found most have not been impacted. Some said the lending environment is tougher, but not stifling.

Most said they thought the national credit market impacted them obliquely: The credit crunch affects the national economy, which in turn shapes public sentiment and can make people reluctant to spend or apply for loans.

Local businesses said they have not seen evidence that Southwest Missouri is headed toward a recession. Not so far, anyway, and they are hoping that the area’s diverse, regional economy will offer a bulwark against a downturn.

Downtown

In the midst of Wall Street’s chaos, Matt Miller, of Matt Miller Co., plans the public unveiling of 26 loft apartments on the top floor of the former Howsmon/Christman buildings in downtown Joplin. Nov. 1 is the move-in date for all pre-leased tenants, although Miller is hosting an open house today and plans another next weekend.

The buildings, also called Main Street Place, occupy 501-513 Main St.

Miller, a Springfield-based developer, has converted the top floors into a series of loft apartments offering a “modern metropolitan style while reflecting the structural allure of the 1900s era” through historic restoration. The bottom floor is to house businesses, and Miller and his company are courting commercial tenants.

“We are hopeful that we can reach out to the Joplin business community,” said Miller, who has invested about $3.5 million in construction and renovation. He had financing for the project before the credit crunch.