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October 2008
Getting Financing in a Credit Crisis
Most banks are bullish on the industry and putting their money out to prove it -- though applications are being closely scrutinized.
by Paul Franson
:link { color: blue } :visited { color: purple } With a troubled economy and rapidly growing signs of weakness in wine sales, many wineries are finding it more difficult to borrow than a year ago. "Yes, it's harder to get loans today," says Rob McMillan, division relationship manager and founder, Silicon Valley Bank Wine Division. He explains why: "With the sub-prime issues facing the industry, any institution that was underwriting consumer mortgages is dealing with credit and capit...
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