Small biz credit crunch: In their own words

As banks clamp down on lending, companies are struggling to survive. Entrepreneurs around the U.S. wrote in to tell us how they're weathering the turmoil.

1 of 12
BACKNEXT
John Drummond - Not our best year
President, Banjo.com and Unicycle.com
Marietta, Ga.

Your CNNMoney article on the bleak outlook for small business was timely. After four years of steady online growth, Banjo.com's sales dropped for the first time in August 2007. To increase our presence in the community, we moved to a store inside a major shopping mall. The Christmas season was great, but our mall store wasn't able to generate enough extra income to offset the extra expenses. After eight months we moved back to our original location in an industrial park. We'll survive, but it won't be our best year.

Our sister company, Unicycle.com, continues to grow. There must be more unicyclists than bluegrass musicians, or my wife Amy is one heck of a unicycle CEO!

NEXT: Edward Solomon - Fighting for credit

LAST UPDATE: Oct 04 2008 | 2:03 PM ET
Sponsored by
More Galleries
A sampling of beers being made with traditional Latin flavors A small but growing number of craft breweries are including passion fruit, Mexican cinnamon and other traditional Latin flavors. More
Banks won't lend? Use these guys instead Banks often have exhaustive approval processes, high minimums, and flawless credit requirements. But there's a wealth of non-bank alternatives for those who need capital fast. Here are some of the leaders. More
Facebook launched my startup These entrepreneurs relied exclusively on Facebook, Twitter and Instagram to jumpstart their small businesses. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.