Printer Sues After Financing Is Pulled –Michelson

David Moyal has felt the fallout, first-hand, of just how difficult it's been for printing companies to secure financing for their businesses. But, in his case, Moyal thought he had a loan in place, only to find his bank reneging on its commitment in 2007 to provide nearly $4 million to finance a planned press purchase. The president of Color-Web, a unit of 1800Postcards.com, contends the funding was pulled, not because his metro New York City-based printing operation was struggling, but more so due to the fact that the Great Recession crippled many printing concerns, making graphic arts industry loans overall a riskier investment.