Houston Community News >>
2/18/2009 SHANGHAI (Reuters) - When
Chinese businessman Roger Zhang needed a bridging loan for his steel
company, he went to a pawn shop to get a cash flow injection to keep his
business afloat.
Turned away by banks caught in the credit crunch, Roger, like many Chinese businessmen, borrows from pawn shops instead. In this case, he paid off the loan a few days later when a customer made payment on a big steel purchase.
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Turned away by banks caught in the credit crunch, Roger, like many Chinese businessmen, borrows from pawn shops instead. In this case, he paid off the loan a few days later when a customer made payment on a big steel purchase.
Read More
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