Yes, this is the era when Washington is trying to save businesses that are supposed to be too big to fail. But it would be a tragedy to let small businesses, such as dealerships, fail because somebody forgot to thaw small business loans as billions were being thrown at big banks and insurance companies.
Bob Cockerham, a dealer from Albuquerque, N.M., told Congress about having to lay off workers, close dealerships and sell his home because he couldn't get floorplanning to buy cars from automakers.
NADA says the average dealership has 50 employees, which may not sound like much next to some of the big Wall Street financial houses with thousands of employees.
But the lack of floorplanning is slowly strangling many of the nation's 20,000 dealerships. Those dealerships buy goods from other companies. Dealership employees support other businesses in the community … and so on and so on and so on.
Letting the big companies fail would bring down large chunks of the economy.
But a failure to aid small-business lending could create never-ending economic sinkholes that swallow communities in all 50 states.