WICHITA, Kan. (AP) — It’s harder, much harder for businesses and entrepreneurs to find financing in Wichita and across the nation.
A year removed from the national economic collapse, the commercial credit cycle in Wichita has tightened so much after aviation layoffs that good deals aren’t getting done.
It’s enough to frustrate everyone — bankers, brokers and developers — as commercial development slows to a crawl with no turnaround in sight.
“I’m turning down deals, good deals that I know we should be doing,” said Jeff Ronen, president of Kanza Bank’s east Wichita office.
“I am of the opinion that lending standards aren’t going to loosen over time like they have in the past. We’re all going to remember how this thing happened, and it’s going to take a whole new wave of young bankers for this credit to loosen.”
The bottom line: Sources say there’s little or no credit available in Wichita for retail, office and condo development. There’s some financing available for multifamily housing since vacancy rates are low, but that’s about it.
Local News
<img src=" http://www.joplinglobeonline.com/images/zope/business.gif" Border=0> Tight credit slows down Kansas business development
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