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FED, SEC, CUNA TALK CAPITAL, CREDIT TO MBEs

Date Published: Jan 20, 2010

Without a doubt, 2008 and 2009 proved extraordinarily tough years for small business. Now that they're behind us, many small business owners are concerned about the road ahead. But, with all the noise about the economy, housing market, health care, unemployment, war, and taxes, it's even more difficult to plan for the road ahead. Will taxes increase? When will real estate rebound? Which industries will drive our economy in 2010 and beyond? Will we experience a double-dip recession? Will the flow of capital and credit to small businesses improve? In the words of one small business owner, “where’s our bailout?

Most financial experts agree there will be increasing demand for private capital and greater restrictions on lending and investing in 2010, that is according to the Pepperdine Private Cost of Capital Survey [Pepperdine University Graziadio School of Business and Management] released August, 2009. The Pepperdine PCOC survey investigated, for each private capital market segment, the important benchmarks that must be met in order to qualify for capital, how much capital is typically accessible, what the required returns are for extending capital in today’s economic environment, and outlooks on demand for various capital types, interest rates, and the economy in general. A copy of the survey is available at: http://bschool.pepperdine.edu/privatecapital

Small disadvantaged businesses, who normally find it difficult accessing capital and credit – even in a good economy, are especially impacted by the looming credit crunch. Minority business owners are looking for answers, some direction. This is the challenge awaiting representatives from the Credit Union National Association, Federal Reserve Bank (Richmond), RBC Bank (USA), U.S. Securities and Exchange Commission, and U.S. Small Business Administration, as they prepare to speak to minority business owners in Richmond, Virginia on February 15, 2010 at the 4th Annual MBE Capital Call Conference. “I will expound upon current trends in small business capital formation, financing and resources from the vantage point of the SEC's Office of Small Business Policy”, said Gerald Laporte, Chief, Office of Small Business Policy at the U.S. Securities and Exchange Commission.

Mr. Laporte is joined by Creighton P. Blackwell - Community Development Specialist for RBC Bank (USA); Bill Hampel - Chief Economist, Credit Union National Association; Kimberly Zeuli - Vice President, Community Affairs, Federal Reserve Bank – Richmond; and, James A. Williams - Lead Economic Development Specialist, U.S. Small Business Administration - Richmond District Office.

According to Derrick L. Alford of Richmond-based Fiscal Fitness Tax & Financial Services, Inc., event Moderator and member of the VHCDC Board of Directors, “The mission of MBE Capital Call is to educate, support, and promote investment in Minority Business Enterprises. That mission demands we present the facts and expose MBEs to current trends and developments in the financial industry.  Accordingly, I’m very excited to moderate this event and look forward to a very informative, lively, and thought provoking session”.

To learn more about MBE Capital Call visit www.mbecapitalcall.com/2010

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