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ICYMI – Access to Capital Improves for Small Businesses
WASHINGTON – According to a recent report from the Pepperdine Graziadio Business School and Dun & Bradstreet Q3 2018 Private Capital Access Index, small businesses are finding it easier to acquire capital. More specifically, 53 percent of the small businesses surveyed said they were successful in securing a loan in the past three months.
“Access to capital is critical for small businesses to start and grow their companies. This new report is yet more proof that the economic climate, due to fewer regulations and the tax reform law, is favorable for small business owners. This also comes three months after legislation I introduced, the Small Business 7(a) Lending Oversight Reform Act, became law in June. The law ensures appropriate oversight of the Small Business Administration’s most popular loan program, while also providing certainty to small businesses,” said House Committee on Small Business Chairman Steve Chabot (R-OH).
“Small businesses, especially Main Street businesses, have turned a corner and banks have taken notice,” said Nalanda Matia, lead economist at Dun & Bradstreet, in a release. “Funding is flowing to smaller enterprises who are in growth mode.”