A Look at Small Business Lending

We recently blogged about the $42 billion small business bill that was passed to help small businesses, and now it seems as though more help might be on the way.

Despite the bill, small businesses continue to be concerned over an array of issues, including how access to capital, credit lines and loan denials and record high interest rates, the latter of which is non-existent with prepaid credit cards. These issues have caused an overwhelmingly negative outlook that small business owner’s hold for their businesses’ futures.

Enter Scott Hauge, President of Small Business California, who is lobbying to be added to the United States Small Business Administration (SBA) in order to investigate, research and solve these small business fears.

Small Business America is an organization with a network of more than 5,000 small businesses and more than 100 trade associations. By studying bank practices and their effects on small business, Hauge plans to come up with recommendations that can help small businesses with their problems.

Will Hauge become a member of the SBA and help make changes that will benefit small businesses? Only time will tell, but hopefully regulations can be made in the future that will continue to alleviate small business fears.

Toffer Grant is PEX's Founder and CEO. He founded PEX in 2006 as a prepaid card solution for small businesses. His background in the prepaid industry began at Clarity Payment Solutions, where he initiated 65 prepaid card programs in consumer, corporate, and emerging verticals of the prepaid card industry.