Jeff Stibel, CEO and Chairman of Dun & Bradstreet Credibility Corp., testified in front of the House of Representative’s Subcommittee for Economic Growth, Tax and Capital Access to examine the post-recession state of small business in the U.S. yesterday, Dec. 5. As the nation’s leading provider of credit building and credibility solutions for small businesses, it was a huge honor for our company to have a voice in front of Congress. Jeff’s testimony stressed the necessity for small businesses to be given better access to capital. After all, this is what we’ve been rallying for through our own small business initiative, the Access to Capital: Money to Mainstreet Tour!
Check out the full hearing below or download his testimony here.
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Jeff discussed a small business lending paradox that has emerged since the recession: while smaller, micro businesses are showing better performance and growth, larger businesses are receiving more bank loans. This phenomenon was best encompassed by a case study we spotlighted at Access to Capital: Money to Mainstreet Seattle and in Jeff’s oral testimony. Mike Banfield, owner of SpringStar, Inc., a Seattle-based company that manufactures and sells non-toxic, environmentally friendly pest control products, has struggled to secure working capital from traditional lenders to keep up with the growth of his business. Read his full story here or watch his case study video:
While Jeff continues to work with elected officials and push for legislation to improve the U.S. small business environment, our company will continue to host events to stimulate small business lending by putting small business owners, experts and representatives from all kinds of lenders in the same room. If we can show small business owners all the resources available and all the people rallying on their behalf, I foresee a better business climate ahead!
For more information about Access to Capital and to stay up-to-date on our upcoming events, follow us on Twitter @AccesstoCapital.