The office of Senator Maria Cantwell (D-WA) issued a report on Wednesday revealing that small businesses in Southwest Washington have struggled to get loans from the U.S. Small Business Administration. Cantwell’s office issued the report, titled “Capital Access for Main Street: Meeting Opportunities of Growth along the Lower Columbia,” during a field hearing in Vancouver between the Senator and local business owners.
According to the report, the Portland SBA office, which includes Southwest Washington, is the only West Coast office where the number of approved loans is down from six years ago. Additionally, the raw approval numbers of 7(a) loans in Clark and Cowlitz counties decreased by 16.2 percent and 33.3 percent, respectively, from fiscal year 2009 to fiscal year 2014.
To read the report in its entirety, click here.
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