Finding small business financing in Baton Rouge harder than in other cities
The Business Report
Small businesses in the Baton Rouge area have a harder time gaining financing for expansions when compared to their peers in five similarly-sized metropolitan areas, and need help preparing the documents required for loan applications.
This recommendation is one of several offered up in the Baton Rouge Area Chamber’s first ever Small Business Access to Capital Report, which contextualizes the challenges small businesses face nationally and locally in obtaining access to credit for expansions, additional workers and capital expenditures.
“We heard very clearly from members of our Small Business and Entrepreneurship Council that this issue is harming our small businesses and limiting their opportunities for expansion,” BRAC President and CEO Adam Knapp says in a statement accompanying the report, released this morning. “We learned through this report that, even though small business lending and access to capital is a national issue, the issues here in the Capital Region are perhaps even more challenging.”