The "credit crunch" is more than a vague term, just something happening out there.
It is so real, when you look at some numbers I collected the other day from the U.S. Small Business Administration.
For example, Bank of America has cut back its SBA-backe, working capital oans to small firms in Broward County by almost 60 percent since last year. During the federal fiscal year that begins Oct. 1 through Aug. 31, Bank of America issued less than $4 million in these loans, down from almost $9.9 million in the same period a year ago.
Other lenders' numbers are down, too, but it's at the big banks that the crisis is most apparent.
Wachovia's figure was a little less than $6 million, down from $9.6 million, for small business workng capital loans in Broward.
In Palm Beach, Washington Mutual's lending dropped from almost $1.4 million to less than $400,000.

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