Access To Credit For MBAs Subject Of Industry Meeting
November 19, 2009
By the My MBA Career Content Team – Find Top MBA Degree Programs
Congresswoman Melissa Bean, Treasury secretary Tim Geithner and Karen Mills of the Small Business Administration (SBA) recently met to discuss methods of improving access to capital for MBAs, entrepreneurs and other small business owners.
On November 19, the three professionals met at the Small Business Financing Forum to talk about helping startups in the U.S. grow.
"Many small businesses' credit lines have been reduced or eliminated over the last year, leaving businesses struggling to access affordable capital to fund business growth," said Bean. "Small businesses drive roughly 80 percent of job creation in the country, so I appreciate the administration's efforts to think outside the box to explore new ideas for increasing credit access as we strive towards economic recovery."
The American Recovery and Reinvestment Act modified the SBA's loan programs, which resulted in the administration lending $13.4 billion to small companies since February. But some entrepreneurs need more capital to continue growing.
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