Archive for December, 2008

The recent credit crunch and economic woes are not only being felt by some of the biggest companies in the world, but are affecting access to credit for nearly everyone. A recent article found on WSJ.com titled Credit Crunch for Consumers by Andrea Coombes of Market Watch details the steps many credit companies are taking and the tightening effects felt by the average consumer.

Along with some pain, a recession is a time when innovation thrives. There was a great article written during the recession of the early 90’s by James Richardson titled Reaping Innovation from Recession. Quoted from this article:

The worst thing that could happen would be for this recession to end too quickly. That is because recessions — despite the pain — are times of creativity and entrepreneurship. They are times when the country renews itself.

At YadYap we are committed to bringing innovation to the payday loan industry, and the current recession won’t stop us; in fact we are motivated more than ever to offer a better product than exists currently in the market. To quote James Richardson again:

New growth comes when new companies refine older concepts and produce something better or cheaper.

Related articles

• Personal Finance Roundup [Money] (consumerist.com)
• The Credit Crunch Crisis Visualized (crenk.com)
• What’s Worth Paying for in a Recession (lifehacker.com)
• Nouriel Roubini: Financial Crisis Far From Over (usnews.com)
• FICO Confirms: Reduced Credit Lines For Good Borrowers [Credit] (consumerist.com)