10/9/2013

The government shutdown is forcing small-business borrowers to wait for approvals from the Small Business Administration or face paperwork bottlenecks that slow loan funds. Some analysts say small businesses could turn to alternative lenders for loans with higher interest rates. KeyCorp Executive Vice President Maria Coyne said banks have a difficult time helping affected borrowers find other options, such as conventional loans. "If we have someone we've qualified for an SBA loan product, generally speaking, that is going to be the best solution for them," she said.

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