Governor Jerry Brown has been asked to host a meeting with banking officials, SBA and lenders so as to make capital available to Small Business Owners and entrepreneurs operating in California. Small Business California (SBC) has actually summoned Governor Brown to initiate the process.
For different reasons small business owners and representatives are still complaining that accessibility to capital is not to the fullest. So, it is important to hold a round table discussion with top officials and bankers on ways to improve Small Business Lending in California.
Nation-wide, banks have curtailed their loan portfolios by over $47 billion since 2007. Small Business loans are very important keeping into consideration the role small firms play in U.S. economy. Research shows that firms having fewer than 500 employees account for half of private-sector output and employ half of private sector workers. Moreover, new small businesses can generate new jobs.
Small Business owners are of the opinion that banks have remained difficult. Federal Reserve Bank’s regulatory environment and examiner’s increased scrutiny led to decline in small business lending. Banks are in a pressure to lend but then regulators encourage strict credit standards.
The Small Business California is a non-profit, non-partisan, small business advocacy group and it takes responsibility and represents small businesses operating in California.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to email@example.com