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Article: Small businesses give panel earful Bailout offers little help, they say
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- April 30, 2009
- Author:
CopyrightCopyright 2009 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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Badger Trailer & Equipment Corp., a third-generation Wisconsin
business, had turned the corner after a wrenching restructuring when
it faced a new problem from an unlikely quarter.
Its bank, Marshall & Ilsley Corp., refused to renew any lending
and threatened to force the company to make an early payment of an
existing $2 million loan, even though the supplier of refrigeration
equipment for trucks had not missed a payment.
"We now find ourselves engaged in a fight to obtain credit and
financial support to stay in business and not file bankruptcy
because of our current uncooperative banking institution's
policies," Badger Trailer general manager Wayne Perrins said at a
congressional hearing ...