June 18th, 2008 11:43 AM by Lehel Szucs
The number of U.S. businesses and individuals filing for bankruptcy is rising, in part because of tighter lending standards that make it more difficult for small businesses and individuals to stay afloat. In April, 5,173 businesses filed for bankruptcy, a 49 percent increase from a year ago, reports Jupiter eSources LLC. Total bankruptcy filings, which include both businesses and individuals, rose 31 percent to 93,096 from the same period a year ago. Jupiter said it expects total 2008 filings to hit 1.1 million nationally, up from 827,00 in 2007 and 590,000 in 2006.