The longer financial markets remain in turmoil, the more local businesswoman Sandy Cheropovich sees the potential for problems for small businesses like hers.

“Access to working capital could be a huge problem,” said Sandy Cheropovich, owner of two Meadville businesses — Sandy’s Artworks and Sandy’s Sign Works, an art framing store and a sign shop, respectively.

Cheropovich says one of her banks has frozen a credit line, meaning it won’t extend her additional money.

While not an issue yet for her businesses, it has the potential to create a cash flow problem, especially for her sign business.

“We’ve done big jobs — up to $20,000 to $40,000 — and normally you get half down,” she said. “If I don’t have access to working capital to buy supplies for the other half, what am I supposed to do?”

Charlie Anderson, president of the Meadville-Western Crawford County Chamber of Commerce, said he’s unaware of any area businesses having trouble accessing credit at this point.

“They’re not having any problems, but they’re not going after any great, big expenditures,” said Anderson. “They’re waiting to see what happens.”

There may be some relief for the credit markets as the Federal Reserve said it plans to buy massive amounts of short-term debt from companies.

The plan unveiled Tuesday calls for the Federal Reserve to buy the short-term debt companies use to finance their day-to-day operations. That would help create demand in the credit market and make it easier for companies to raise money.

The credit markets seized up after the failure of Lehman Brothers Holdings Inc. Banks have been reluctant to lend to most customers, including other banks, fearing they won’t be repaid.

On the local front, one business lender said his activity in 2008 actually is far outpacing 2007.

So far, “the total number of loans and volume is about double what I was last year,” said Ed Miller, a vice president for commercial lending with Northwest Savings Bank’s Meadville office.

Miller declined to give specific numbers, but said the lending activity wasn’t concentrated in any one area of the local economy.

“There are a number of projects going on, both commercial and industrial,” Miller said. “Businesses are buying equipment and buildings.”

Some area manufacturers say they’re not feeling any credit crunch so far.