Greater reliance on personal resources – Small business owners frequently mentioned the need to use personal financial resources to replace business credit. Personal credit cards, in particular, are often used because they are easily accessed. Some small businesses said they also relied on home equity lines on their personal residence or on retirement savings.
Family and friends are another source often mentioned for small business financing, particularly for start-ups. Current economic challenges, however, have restricted the availability of these sources. –  In Annapolis, a small business owner described being denied for a line of credit because her revenues were down in the prior two years.