Senate passes bill to increase capital for small businesses

The bill gives small business more access to grants and loans.

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The bill would expand the eligibility criteria for small businesses to receive a grant or loan through the Credit Enhancement Fund, which is run by Business Oregon. The CEF offers insurance to lenders on loans and credit for small businesses.

To be eligible for the program, a small business must show the credit will provide economic benefit to the state, such as job growth or expansion.

 (READ MORE: Statesman Journal)

Oregon had 757,132 small enterprises employing fewer than 500 employees in 2012, according to the Statistics of U.S. Businesses. That was more than half of the state’s private workforce, according to Small Business Association.

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