CREDIT CRUNCH AND BANKS

Review your banking arrangements and read the small print.  Often there is a verbal agreement with the bank manager, to draw down funds or on the length of an overdraft, which can suddenly disappear overnight (as the bank manager might have done).

Get it in writing.

 A sudden reduction or withdrawal of funds can be catastrophic.

Resist any attempt to change the interest rate e.g. an amount over LIBOR (the London Inter Bank Offer Rate) rather than base rate.