Signed Into Law, JOBS Act Provides Hope for Small Businesses Struggling to Access Capital

Rhett Buttle

Original statement issued on April 5, 2012:

The bipartisan Jumpstart Our Business Startups (JOBS) Act, signed into law by President Obama today, will help address one of small business owners’ biggest problems: a lack of access to capital.

Lawmakers from both sides of the aisle came together to work for the good of small businesses with this act, which is what our nation’s job creators need right now. However, we strongly encourage legislators not to stop here. This bill will give startups a boost, but existing brick-and-mortar Main Street small businesses also need help.

There are countless mom-and-pop shops looking for assistance with expansion, many of whom are denied even the smallest loans because of tightened restrictions and a dried up credit market. Recent opinion polling we released found 90 percent of small business owners say the availability of credit is a problem.

The JOBS Act will help shore up capital for small businesses looking to grow and expand, but it is not a panacea for all small firms’ capital woes. We’re pleased to see it being signed into law today and hope it will pave the way for lawmakers as they continue working on solutions that can better lending conditions for small businesses.