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Council hearing spotlights loan‑readiness proposal and SBS Funds Finder pilot for small businesses
Summary
Majority Leader Amanda Farias urged the Committee on Small Business to back Intro. 1350, which would require SBS to provide loan‑readiness resources to help small business owners prepare financing applications and connect with lenders.
Majority Leader Amanda Farias urged the Committee on Small Business to back Intro. 1350, which would require the Department of Small Business Services (SBS) to provide loan‑readiness resources to help small business owners prepare financing applications and connect with community development financial institutions (CDFIs). “By establishing this mandate, not just a policy, we're making sure that these vital services aren't optional,” Farias said.
SBS described current services that already aim to increase capital access. Harish Khan, SBS chief of staff, told the committee that SBS operates Funds Finder, an online capital marketplace that lists loan and grant products and allows business owners to schedule…
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