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More businesses are turning to bartering exchanges as the credit crisis has caused many traditional sources of business financing to dry up.
In fact, 75 percent of banks polled in the October Federal Reserve loan officer survey said they've tightened their lending standards for small-business loans within the previous three months. And 90 percent said they were charging more for loans and credit lines. Government-backed loans are also declining.
The Small Business Administration guaranteed 8,996 loans during the first quarter of fiscal 2009, a 57 percent drop from the 20,859 loans that were guaranteed during the same period a year earlier.