Many have been turned away by the banks and have resorted to seeking other sources of financing
The credit crisis is bleeding Wayne's pockets dry. The Indian expatriate, who started his public relations firm in Dubai about two years ago, has just laid off eight of his 12-man staff.
For months, Wayne (name changed on request) has not made any profit. His clients are defaulting on Dh1 million debt and he's having difficulty closing new deals. To stay afloat, he sought help from banks, but to no avail.
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