Ares CEO Says Small Businesses 'Aren't Out of the Woods Yet'

The transcript discusses the challenges and outlook for small businesses, highlighting a dichotomy between larger borrowers with easy credit access and smaller ones facing difficulties. It emphasizes the disconnect between liquid markets and the real economy, noting improvements due to economic recovery efforts. However, challenges persist, potentially delayed by stimulus measures. The discussion also covers corporate lending, liquidity sources, and the healthier-than-expected state of small businesses.

What is one of the main challenges small businesses face compared to larger borrowers?

• Higher interest rates

• Easier access to public markets

• Underestimated risk of distress

• More government regulations

What is the speaker's view on the current state of the liquid markets?

• They are closely aligned with the real economy

• They are disconnected from the real economy

• They are improving faster than expected

• They are declining rapidly

What is one of the ongoing challenges for small businesses despite improving conditions?

• High inflation rates

• Increased competition

• Persistent unemployment

• Lack of skilled labor

How has the stimulus affected the challenges faced by small businesses?

• It has had no impact

• It has worsened the challenges

• It has delayed some challenges

• It has completely resolved them

What is a source of liquidity mentioned for borrowers in the speaker's portfolio?

• Venture capital

• Government grants

• Private credit

• Crowdfunding