Local Businesses Hopeful For New Credit Lines
POSTED: Tuesday, March 24, 2009 - 6:31am
UPDATED: Wednesday, February 17, 2010 - 2:23pm
It is what any restaurant owner wants, food cooking and customers paying.
In the year and a half since Fernando Ruiz opened Hot and Juicy Burgers on El Paso's West Side, business hasn't always been booming.
"It was so bad back in November we were going 'Are we going to be open for December '09' it was really really hard." Says Ruiz.
With hamburgers a hard sell, Ruiz was in trouble. He turned to the bank for help.
"Trying to get a loan but money was very very scarce at the time. With no avail we came out empty handed." says Ruiz.
Like many small business owners, the failing economy was taking Ruiz' business down.
"A lot of us invest everything we have in a business and you know a lot of times it's out of your hands."
Ruiz is hopeful that with the bank bailout money on its way, credit lines for small businesses will be open.