Are you running a business in the state of Oregon? Are you looking for access to working capital? The Oregon Senate is for Small Business Expansion Loan Fund. Read this article to get to know about this bill and how you can get affordable and reliable business funding such as cash advance.
Funding for Small Business: Need a Cash Advance?
The Oregon Senate has recently supported small businesses all over the state by introducing a bill. The latter is to expand access to capital to help small business owners grow and hire employees.
Small business innovation plays a decisive role in helping Oregon build local economies. Over 95% of employers in Oregon employ fewer than 50 workers. Small businesses employ about 40% of Oregon’s workforce. Access to working capital represents the biggest obstacle to small businesses in the state.
If you’re a small business owner looking for access to working capital, apply only to a reliable business funding provider. With a reputable alternative online lender, you can enjoy the most competitive rates and the best terms for business funding, including a cash advance, in the industry.
Oregon Small Business Expansion Loan Fund
According to Senator Ginny Burdick, D-Portland, who carried the bill on the Senate floor, the Oregon Small Business Expansion Loan Fund will provide stronger bases for small business innovation and job growth in Oregon. As Sen. Burdick notes, small businesses owned by women and people of color, and those located in the rural parts of the state, have additional funding problems.
Tax Fairness Oregon, the largest tax fairness organization in the state, is for this type of business support. According to the organization, capital holds businesses, especially growing and expanding ones, back from growth. Tax Fairness Oregon thinks this is a much better public policy as compared to the pass-through income tax rate reduction.
There’re certain criteria that Small Business Expansion Loan Fund recipients will have to meet. Recipients will need to prove they have market readiness, reasonable growth potential, and enough excepted profits so not fail to pay back the loans.
Up to 20% of the Fund may be reserved for loans to applicants with low to moderate household income and personal net worth. The bill now goes to the House for consideration.
Author Bio: Business Funding expert, Michael Hollis prides himself on being able to help the backbone of America; small business owners. When he isn’t helping merchants, you’re more than likely to find him scuba diving the California coast or eating at one of LA’s tasty Vegan restaurants. First American Merchant is America’s Best cash advance company, serving both traditional and high-risk Businesses.