The Places They Go When Banks Say No
In the glory days of the digital photo frame business, when his products were still a novelty and shoppers were flush with cash, getting a bank loan to manufacture them was a cinch, Michael Levy says. Levy, whose firm makes digital frames, said that after the financial crisis, his traditional bank refused to finance a big order he received. 
“We would say: ‘We got a $1 million order from the Sharper Image. We need financing. With a snap of the fingers, the guy drove down to my office, we’d sign a document, he’d give us the money,” Mr. Levy recalls, sitting in the Deer Park, Long Island, office of the Media Street Group that he runs with his brother, Norm.
But like many other business owners, Mr. Levy saw his prospects change drastically in 2008 as the financial crisis unfolded. The Sharper Image and several other top customers filed for bankruptcy, and Mr. Levy found himself scrambling to keep the business afloat. Read full story:
