News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

The Holden Arboretum

Don Drumm Studios

Knight Foundation


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business


The shutdown slows, but doesn't stop, business and home loans
Those already in th epipeline have the best chance of getting through
by WKSU's JEFF ST. CLAIR


Reporter / Host
Jeff St. Clair
 
Courtesy of StockMonkey.com
Download (WKSU Only)
In The Region:

The impact of the government shutdown has touched nearly all federal agencies, from national parks to NASA.  But WKSU’s Jeff St.Clair reports the pipeline of government-backed loans is slowing, but not stopped.

LISTEN: Government-backed loans on hold

Other options:
Windows Media / MP3 Download (0:58)


Two-thirds of the federal Small Business Adminstration’s staff is on furlough this week.  Emergency business loans are still available, if say, a hurricane hits, and existing loans are still being handled by the agency.

But new business loans are on hold.  And in Cleveland, Key Bank’s Business Banking Executive Tim Gretkierewicz says it’s hurting companies who were counting on the cash flow.

“The delay is having a financial impact on anybody who’s in this process, and it will all depend on how long the furlough lasts to say how big that financial impact will be.”

Business loans aren’t the only ones slowed by the shutdown.  Ninety-percent of new home loans are underwritten, insured or owned by the government.

Home loan processing has slowed but not stopped because Fannie Mae and Freddie Mac are funded by fees charged to lenders.  FHA home loans are not tied to the current budget standoff and are still going through.
Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

Ohio to appeal ruling keeping Akron's red light cameras in place
I don't understand what all the fuss is about. If you don't like tickets drive the speed limit and stop at red lights. It's really all up to you.

Who's on public assistance in Ohio?
legalize marijuana get over it,,, its here its been the main drug test scare of a lifetime. u got people that get drunk every night and work u got peoples on ...

Letters from a lost friend: A Beachwood survivor's Holocaust remembrance
What a great story -- and how important it was for both Marlene and her mother to tell it! Thank you.

Ohio lawmaker calls for an East Cleveland bailout
Instead of blaming Kasich and the Republicans for all of East Cleveland's fiscal woes, take a look at the facts. Some political entities in Ohio are too small ...

Legalized marijuana is a boon for a Cleveland-area grow light maker
Shouldn't he be in jail for paraphernalia? He knows he is selling for marijuana production.

Akron city council to vote on resolution for hiring ex-offenders
Great as a taxpayer I paid for the police to catch them, the free lawyer, the jail to house them , the food their kids eat the medical for them and all its goin...

5 of 8 rule headed for a vote
this is just another way for kasich to pass the buck and claim that it gives the local districts control. Few schools have enough money because of his cuts. T...

A passionate debate about parole in Ohio
I was heartened to hear that the legislators will consider ANY legislation to break the chains the parole board has put on these old law offenders who have serv...

Bill would allow Ohio religious leaders to refuse to do gay marriages
This is just a lot of political posturing. The free exercise clause of the 1st Amendment already protects clergy from being forced by civil authorities to perfo...

Copyright © 2015 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University