Small business owners back state bank, survey says

By James Mayer • The Oregonian • January 12, 2011

Small businesses in Oregon are still struggling to find credit, and a majority support the idea of a state bank, according to a survey released today by the Main Street Alliance of Oregon.

The group, formerly the Oregon Small Business Council, surveyed 115 businesses in 28 communities late last year.

…The group is pushing the idea of a state bank, similar to one in North Dakota. The state bank there provides matching funds for loans to commercial banks to support small business lending. The group plans to propose the concept to the Oregon Legislature this year.

Three-fourths of business owners in the survey supported that idea.

“Oregon has a great opportunity to create a solution that will generate small business lending, and create jobs by investing in the local community — a state bank in Oregon is just the way to make that happen,” said Jose Gonzalez, owner of Tu Casa Realty in Salem.

Read entire article here.

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