According to a recent survey by CFO.com of finance executives, not only does it cost more to borrow in the current climate, but the quality and breadth of services available from commercial lenders has deteriorated. Seems the bankers are too preoccupied trying to remain in business and keep their jobs to tend to their customers. The survey also reveals that corporate finance is pessimistic about TARP.

The 115 CFOs and other top-level finance execs who responded said that since September the quality of some services provided by their commercial lenders has deteriorated. A majority said it costs more to borrow; banks are less able to make lending decisions and commitments; and that banks are also less flexible. Surprisingly, 39 percent said that even the range of services and products available from their commercial lenders had narrowed.

Moreover, many CFOs responding to the survey were pessimistic that the federal government's program to inject $700 billion of capital into banks will improve things. Much of the criticism and concern over the Treasury Department's Troubled Assets Relief Program center on whether TARP will prod lenders to start opening the doors to borrowers again in the near-term. CFOs, for the most part, don't believe it will. When asked if the TARP plan will help their businesses in the next two months, 78 percent of survey respondents said they were not at all confident of that.

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