“If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.”
- J. Paul Getty
With Dun & Bradstreet’s most recent ‘Business Failure and Start-up Analysis’ reporting that “the number of small businesses going bankrupt jumped by 48 per cent over the last 12 months” — growing by 57 per cent over the year among firms with less than five employees, and 40 per cent over the year among firms with six to 19 employees — and that the start-up rate for small businesses fell by 95 per cent, it is worth taking a closer look at the usury rates charged by the banks for small business loans, as compared to large ones.
The following charts show the total value of variable usury-rate business loans, that have a usury rate of 17 per cent or greater.
First, loans of $100k to less than $500k:
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Loans of $500k to less than $2 million:
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Loans of $2 million and over:
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And finally, loans of less than $100k:
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Clearly there’s been no mercy shown by the usurers to their smallest business borrowers, post-GFC.
Here’s the direct comparison of business loans less than $100k, versus loans greater than $2 million, that are copping a 17 per cent or greater rate of usury:
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All-time record low “official” interest rates?
Perhaps someone forgot to tell the usurers.
Who needs small businesses anyway, right?
Monopoly “capitalism” is much better.
For the 0.1% at the very top.
“Competition is a sin.”
- John D. Rockefeller
