Gov. Bev Perdue Addresses Local Chambers

Governor Bev Perdue will address the Blowing Rock, Boone Area and Ashe County Chambers on Monday, March 8th at 1pm in the Watauga County Commissioners Board Room.

The following is a Press Release on Small Business and Community Banks released Friday.

Gov. Bev Perdue Brings Together Small Business/Community Banks. Gov. Bev Perdue today announced a new JobsNOW small business lending initiative to help more small businesses get the loans they need to grow or stay in business. The governor announced the new initiative during a press conference at Kingz Downtown Market in Winston-Salem. “North Carolina’s small businesses are the backbone of our economy, creating more than two-thirds of all new jobs,” said Gov. Perdue. “Small businesses will power North Carolina’s economic recovery.”

Because of the economic recession and new federal regulation of bank lending, small and medium-sized businesses are having a hard time obtaining credit. Gov. Perdue’s initiative will help more North Carolina small business get access to credit in two ways: 1) By increasing participation in Small Business Administration (SBA)loans and other federally backed loan programs by North Carolina banks and; 2) By helping North Carolina small businesses strengthen their loan applications. In the next six months the state will hold a series of “banker boot camps” across North Carolina to coach loan officers and community banks on how to take advantage of SBA loans.

In addition, the state will reach out to small businesses to help them apply for credit. Sixty percent of small business loans are turned down because the applications aren’t strong enough. This initiative will help small businesses get the advice they need to have a better chance of getting a loan.