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The credit crunch may be over in Connecticut

September 19, 2013 12:00 am • Last Updated: September 18, 2013 11:47 pm

The Connecticut Business & Industry Association, in association with the Farmington Bank Credit Availability Survey, reported that loan availability in Connecticut hit a new five-year high in the second quarter. But demand for credit was down 3 percentage point from the first quarter, with only 26 percent of those surveyed seeking financing between April and June.

"That's really an indication of the continued uncertainty surrounding the state's economic recovery," CBIA economist Peter Gioia said in a statement.

About 22 percent listed credit conditions as good or excellent, 5 percentage points higher than in the first quarter.

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