Credit expansion threatens barrier wine country

Winery operators were trouble growing their business this season, with a lot of add-on programs, as well as the hotel and tourism projects stalling due to a lack of credit lending.

After struggling with a full season of mist, evergreens, exports are down and prices flat many wine developers but winemakers say local banks made matters worse, stop lending because of recent credit barrier.

Jim Carter, owner of South Coast Winery Resort & Spa, designed to build a new project of the full suite 180, restaurant, amphitheatre. However, his project is on hold, and he believes ??? banks refused to give the green light.

"Very tight credit right now," Carter said Times North District."Banks are very tight. If you have a hard time selling grape or wine, you'll have to deal with the banks."

Credit barrier has hit the wine industry because of the increased competition is difficult, and the need to expand the business.Some of them even had to be abandoned entirely because of projects or tight credit lines, according to the schedule.

Agricultural dealers to mention the loss he'd been tricked during recession as big as the reason, reports the times.

Tags: denied credit, consumer credit loans barrier

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