One of the unintended consequences of overly aggressive bank lending is that many non-bank lenders were taken out of the market because of risk adjusted pricing. Businesses also got spoiled with easy credit and now need to present sharper proposals to anyone to get financing and often need to be more creative in doing so.
This was my post several years ago:
The interesting thing about a credit crunch is that when it happens, everyone raises their standards. Many bankers rely on asset based lenders to replace their loans when they are “tired”. But, asset based lenders may be seeing better loans all the time if there is a crunch. I’d suggest that bankers look at their loans to see if they can be taken out by others. I can help with this.