Small businesses reported the largest monthly contraction in “availability of credit” in 20 years.

Small/regional banks are critical lenders to SMEs and reaffirms our view of a lending slowdown, which as we’ve noted has big implications for economic growth and liquidity (and even solvency in extreme cases).

https://members.delphidigital.io/reports/avoiding-the-real-banking-iceberg/#the-tip-of-the-iceberg