TAB helps small business owner members overcome tough times with sound business advice and emotional support from other non-competing business owner peers. Listen how!

An excerpt from The CW 11, St. Louis, MO , featuring The Alternative Board:

Written by: Theresa Petry

September 17, 2008

The steep slide of stocks on Wall Street isn’t just affecting large corporations like Lehman Brothers and AIG. The ripple effect is shaking up small local businesses.

This latest blow for small local businesses has loans being pulled and credit lines cut. While you won’t see a government bail out here some are getting a boost from each other.

“It has caused me some sleepless nights,” stated Catherine Yank.

She took over her dad’s business, Taylor Roofing in Belleville, Illinois, 8-years ago when he passed away. She can’t bear the thought of losing the company.

“Oh my gosh it’s my father’s legacy” she exclaimed!

But as the bottom drops out of businesses like Fannie Mae, Freddie Mac, Lehman Brothers and now AIG it means small businesses are faced with higher rates on credit cards and loans - if they can even get one now.

“The challenge today is to make sure I maintain a good banking relationship - that probably causes me more grief than anything,” said Catherine.

With the failing housing market she can forget about a home equity loan or using it for collateral. Instead many are deciding to delay projects or hold off on purchasing merchandise.

“There is uncertainty in business in terms of inventories - just being more conservative,” said Gregory Yank of The Alternative Board.

The Wall Street woes leading to main street blues.

“It’s the big guys who get bailed out not small companies like me,” said Catherine.

Small companies, the backbone of America, are searching for support. Catherine is reaching out to a peer group called The Alternative Board - which was started in the 90’s.

“Emotionally this has been a roller coaster and one of the things the TAB process helps business owners to provide support to each other,” explained Gregory Yank.

The Alternative Board is a private paid peer group. Small businesses must apply and be accepted into the group. There are monthly dues and meetings. For more information log onto http://www.sba.gov.

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