As we said in our previous post, we're going to withhold too much comment on any financial industry bailout until such a bailout appears to have a chance of actually being, you know, enacted. (It's worth quickly mentioning that any such plan is likely to provide some sort of help to community banks, which should help small businesses secure credit from them.) Instead, we thought we'd direct you to this Wall Street Journal piece on alternate ways you can go about trying to get credit during these times. (Of course, this is the same paper that warned that small businesses are going to have quite a time of it trying to get loans.)

For the time being, if you're looking to score financing via the more traditional avenues, good luck getting interest rates lower than 10-15%--and good luck, period. But if you look into these other options...
P-to-P lending Websites. These resources--the article cites Lending Club, Prosper, and Zopa-- are like other social networking sites, in which users set up profiles and seek to get referrals. Here, the purpose is to attach lenders to borrowers. Several sites use credit histories to analyze riskiness. On Prosper, loans are going right now as high as $25,000, with interest rates as low as 6%.
Collateral that hits close to home. Two borrowing methods involve putting up collateral that might make you sweat under the collar, so don't try this unless you've got guts and few other options. Factoring lets you put your accounts receivable up for collateral on a loan, whose interest rate will rarely dip below 15%. This option seems especially risky during a downward economic cycle, when bankruptcies personal and business will not be infrequent, raising the risk that counterparties who owe you money will not always be able to pay you back. Asset-backed loans are just what they sound like, and also tend not to carry low rates.
Work out a better deal. One of your advantages as a small business is the personal relationships you have developed with counterparties, including suppliers. Trying talking to them. They're living in the same business climate you are, so they'll be sympathetic. Maybe you can work something out. One New York City gymnasium even secured a sizable loan from a wealthy customer.
Community banks and credit unions. We've discussed these before: the problem is that most community banks--which have fewer than $1 billion in assets--have been hit hard by the collapse of Fannie Mae and Freddie Mac.
Alter your behavior to reduce your credit needs. Instead of trying to get more credit, try to make yourself less reliant upon it. The article suggests leasing rather than purchasing, where you can. Needless to say, any strategies for imminent, explosive growth should probably be postponed for the time being.

The last option is the best one. The fact is, there really are no favorable credit situations right now, so the best thing you can do is to try to avoid them altogether. The good news is that small businesses are actually less dependent on credit than bigger ones to begin with--this is Michael Taylor's point--which should give you an opening to cut into their business. Moreover, small businesses can afford to be more flexible. That's going to pay off right now. Put yourself on as strict a credit diet as you can, and wait this is out.