CLARKONOMICS: CIT Group -- another big lender to small business -- is in danger of going under.

The whole episode is reminiscent of what happened with Advanta, where that lender ran out of money and closed down lines of credit to 1 million customers at the end of May. People who were traveling on business suddenly couldn't use their credit cards to check into hotels or rent a car.

What happened with Advanta and what may happen with CIT both highlight the danger of small businesses relying on a single source of capital.

If you're a business with an open line of credit at a bank, here's Clark recommendation: Draw down that money now before it gets cut off. Be sure to deposit the money at a different bank or credit union.

Why a different bank or credit union? In most loan agreements, there's a clause that allows the bank to claw back the money owed on a loan when it is suddenly called due. So if the money is sitting on deposit at the issuing bank, they'll just help themselves to your account to get it.

As a business, you need to have multiple lines of credit. But Clark knows that's easier said than done in today's climate. If your lines of credit being shut off would put you out of business, then you have some homework to do to line up alternate sources of funding.