reportonbusiness.com: Desperate for credit

reportonbusiness.com: Desperate for credit: “For Rick Jamieson, CEO of a 135-employee maker of brake pads, the credit slowdown couldn’t be starker.

“Fourteen years ago when we started up in business, the banks lent us huge sums of money, really just on a business plan,” says Mr. Jamieson, a chartered accountant who co-founded ABS Friction Inc. in Guelph, about 100 kilometres west of Toronto.

“Now, we’re a solid, long-term player in the business, and it’s really difficult to get funds out of the banks.””

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