One of the most important tools we have at the Small Business Administration (SBA) to reach high growth entrepreneurs is the Small Business Investment Company (SBIC) program.
Before you invest in anything else, exhaust the possibilities of investing in your own business first.
Oftentimes, small business owners are unable to obtain reasonably priced financing and instead turn to higher priced forms of capital, such as credit cards.
Access to capital is critical for small business success and crucial to our economic recovery. Without access to capital, many small companies are not able to maintain operations, let alone expand and create new jobs.
The S.B.A. does not lend directly to businesses, but instead backs loans to encourage banks to invest in small businesses as part of a nearly $90 billion portfolio.
Having more customers means nothing if America's small businesses cannot obtain the required capital to support their exports in the competitive international markets.
What we have to do moving forward is to make sure that small businesses that account for most of the job growth in our economy are getting the kind of financing that they need.
I want us to do more to help small business. That's where two- thirds of the new jobs are going to come from.
I have heard firsthand from several small business owners about their struggle to borrow and their fear of taking on additional debt.
We want to see more sources of alternative finance, from innovations in factoring such as MarketInvoice or in peer-to-peer lending such as Funding Circle which Labour local authorities are now using to support and invest in local businesses.
More than 60 percent of small businesses face payment delays. That can cause a serious cash flow crisis. So, as president, I will explore new ways to arm small businesses with the tools to fight back and level the playing field.
