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Small business stimulus may help local entrepreneurs

United States, April 2, 2009

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April Baer

April, 2009

Oregon's small businesses are waiting to see whether federal help will be truly helpful.

The Obama administration made $15 billion available to jump-start small business lending. Some national lenders question whether the government's cash infusion comes with too many strings attached.

Oregon's traditional banks have had generally positive reactions. Some report they're getting more inquiries than usual for SBA-backed loans.

Mercy Corps Northwest lends to entrepreneurs who can't get funded by traditional sources.

Loan officer Brian Fassett says it's still a tough lending market for small businesses.

Brian Fassett. " We have a lot of folks coming into us, currently unemployed or expecting to be, who are trying to get a Plan B in place."

Fassett says the stimulus cash will help many more clients get loans.