Thursday, June 17, 2010

Main Street Pushes for Small Business Solutions

Direct government loans and establishment of microlenders were among the suggestions for increasing access to working capital for small businesses at a roundtable discussion at the Federal Reserve Bank of Richmond in Otterbein on Monday, June 14. Federal Hill Main Street participated in the discussion along with elected officials, banking industry representatives and federal regulators, government officials, and small business owners.

U.S. Representative John Sarbanes said his discussions with Federal Hill Main Street helped him understand that current programs designed to help "were not reaching those that need it." Lack of access to financing for inventory purchases and other critical activities are choking small businesses.

Meetings such as this one that bring regulators, bankers, and small businesses together are being held nationwide to help identify solutions to the credit crunch.

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