Credit Access

• 1Have the nation’s financial problems, which became highly visible in September, affected your business:?
• 2For your business, is the most important immediate problem associated with the current financial situation caused by:?Top 100 question
• 3For your business, does the immediate financial problem associated with the current financial situation:?
• 4What do you think will be the most serious long-term problem caused by the nation’s financial problems that became highly visible in September?
• 5Do you strongly support, support, oppose, or strongly oppose the so-called “bail-out” bill that was recently enacted as a means to stabilize the financial situation?
• 6AFinance a vehicle or equipment for your business through a seller of that vehicle or equipment
• 6A1(financed a vehicle or equipment) Were you able to:?
• 6BGet a new line of credit for your business, NOT including credit cards
• 6B1(new line of credit) Were you able to:?
• 6CExtend an existing line of credit for your business, NOT including credit cards
• 6C1(extend existing line of credit) Were you able to:?
• 6DGet a loan for business purposes from a financial institution
• 6D1(a loan) Were you able to:?
• 6EGet a credit card or cards for business purposes:?
• 6E1(credit cards) Were you able to:?
• 7Since mid-September, has your business been able to get all of the credit you wanted, most of the credit, some of the credit, or none of the credit you wanted?
• 8Was that (did not apply for any credit since mid-September) because you did NOT want any credit or was it because you thought you couldn’t get the credit even if you tried?
• 9How many financial institutions do you use for business purposes?
• 10Think of your firm’s most important financial institution in mid-September. I am going to read you a list of the largest banks in the United States. Please tell me if the PRIMARY financial institution for your business is one of them: Bank of America, JP Morgan/Chase, Wells Fargo, Citibank, Sun Tr...
• 10aIs it one of these: HSBC, World Savings, Key, PNC, Sovereign, Commercia, Union of California, Commerce, North Fork, or Fifth Third?
• 10bIs your primary financial institution as of mid-September better described as an Internet bank with virtually no locations like ING, a regional bank with several branches, or a local bank with a few branches at most?
• 10cAbout how many years have you been a customer of your primary financial institution or a predecessor if it has been merged? An estimate is fine.
• 11Does your business currently have a line of credit, NOT including credit cards, with one or more financial institutions?
• 11a(credit) How many different lines do you have?
• 11a1Are they at your primary financial institution or are they at different ones?
• 11b[Think of your largest credit line.] Since the first of September, has the financial institution changed the size, interest rate, collateral requirements, OR other terms of the line, such as requiring a personal guarantee?
• 11b1What did the institution do?
• 11b2How did that decision impact your business? Was it:?
• 11cWas that line held at your primary financial institution?
• 11dDid you try successfully to replace it on more favorable terms at a different institution, try unsuccessfully to replace it, or not try to replace it?
• 12Does your business currently have a loan, NOT including credit cards, with one or more financial institutions?
• 12aWith how many different financial institutions do you have loans?
• 12bAre they at the same primary financial institution or are they at different ones?
• 12cSince the first of September, have any of these institutions changed any aspect of the loan, including calling it in?
• 13Do you currently have one or more credit cards that you use for business purposes?
• 13aHow many different cards do you use for business purposes?
• 13bSince the first of September, has the institution changed any aspect of the credit card, including calling it in?
• 13b1What did the card issuer do?
• 13b2How did that decision impact your business? Was it:?
• 14Does your business currently extend credit to customers usually, to customers selectively, to customers who ask for it, OR does it not extend credit to any customer?
• 14aSince September 1, have you tightened your credit policy a lot, tightened it a little, loosened it a little, loosened it a lot, or have you not changed it?
• 15Since September 1, have your SUPPLIERS as a group tightened their credit policy a lot, tightened it a little, loosened it a little, loosened it a lot, have not changed it, OR do you always pay at the time of purchase?
• 16Is this business operated primarily from the home, including any associated structures, such as a garage or a barn?
• 17Do you own all or part of the building or land on which your business is located?
• 17aDo you have a mortgage on that property?
• 17a1Is the interest rate on that mortgage fixed or variable?
• 17bDo you have a second mortgage on that property?
• 17cIs the property upside-down, that is, is this property worth LESS on the open market today than the mortgage or mortgages on it?
• 17dWas one or more of the mortgages taken out on this property to finance other business activities?
• 17eIs this property being used to collateralize the purchase of other business assets?
• 18Do you own your residence?
• 18aDo you have a mortgage on that property?
• 18a1Is the interest rate on that mortgage fixed or variable?
• 18a2Does that interest rate reset quarterly, bi-annually, annually, or some other time?
• 18bDo you have a second mortgage on that property?
• 18b1Is the interest rate on that mortgage fixed or variable?
• 18b2Does that interest rate reset quarterly, bi-annually, annually, or some other time?
• 18cIs the property upside-down, that is, is this property worth LESS on the open market today than the mortgage or mortgages on it?
• 18dWas one or more of the mortgages taken out on this property to provide capital for your business?
• 18eIs this property being used to collateralize the purchase of other business assets?
• 19Do you own investment real estate property, including undeveloped land, commercial or residential buildings, or other real estate assets, NOT including your business or your home?
• 19aDo you have one such investment or more than one?
• 19bThink of the largest single real estate investment you have. Do you have a mortgage on that property?
• 19b1Is the interest rate on that mortgage fixed or variable?
• 19cDo you have a second mortgage on that property?
• 19dIs the property upside-down, that is, is this property worth less on the open market today than the mortgage or mortgages on it?
• 19eWas one or more of the mortgages taken out on this property to provide capital for your business?
• 19fIs this property being used to collateralize the purchase of other business assets?
• 20Since September 1, have you shifted or withdrawn deposits, including IRA or 401(k) accounts, from a financial institution over concern about the financial viability of that institution or the financial system as a whole?
• 20aDid you redeposit all, most, some, or none of those funds in a different financial institution?
• 20bDid increasing government insurance on deposits up to $250,000 per account in financial institutions affect your decision to:?
• 21Did institution of government insurance on money market mutual funds affect your decision to:?

Volume 8, Issue 7, 2008
ISSN 1534-8326

William J. Dennis, Jr.
NFIB Research Foundation