If you’re like me, you keep hearing that credit is tight.  Well, I’m not so sure that’s true.  What I do think has tightened are the regulations and rules in regard to who is a good credit risk.  You can still get a good loan with a good rate if you start out with a good credit score, job history and salary.  If you lack any of the above, you are going to have a harder time getting credit.

Since there are so many Americans right now who are lacking in one or more of those critical areas, it does feel like credit is tightening.  If you are a business that is highly leveraged you also will find it harder to get credit right now.  It seems like the problem is; we got here by lending to unworthy credit customers and the fact that the banks and lending institutions have stopped lending to unworthy customers doesn’t mean that credit has dried up.  It does mean that the rules of the game have gotten harder and you have to be prepared to play by the new rules as the old ones may be gone forever.