Access to capital is one of the most significant challenges facing small businesses in America.
According to The State of Small Business In America 2016 report published by Babson College, business owners rely on banks as the primary source of funding, however they report receiving only 40% of requested funding. In addition, 58% of small businesses surveyed wanted more flexibility provided in the loans that were granted.
Small businesses comprise 99% of all U.S. employer firms and provide almost half of all private sector employment. That’s why President Obama and the Small Business Administration (SBA) have spent the last seven years focused on lending more capital to small businesses to grow and expand than any other administration over the same time period.
Policies and regulations that further limit access to capital for small and mid-sized business will damage the economy, harm shareholder value, and impede job creation.
The CBD will serve as a voice in Washington DC, advocating to protect the funding sources available to small and mid-sized businesses.