Why Small Business Can't Get Financing

Associate finance professor John Paglia is senior researcher for the Pepperdine Private Capital Markets Project, a twice-yearly survey of privately owned businesses and the lenders and investors who fund them. Its latest report shows that multiple efforts to shake loose capital over the past 18 months are not working, Paglia says, and Main Street continues to suffer. He spoke recently with Smart Answers columnist Karen E. Klein; edited excerpts of their conversation follow.

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