Public Hearing Highlights Challenges in Accessing Affordable Capital for Small Businesses

During a recent meeting of the California Assembly Committee on Economic Development, Growth, and Household Impact, the spotlight shone on the critical issue of access to affordable capital for small businesses. Juan Carlos Hernandez, president and CEO of the California Southern Small Business Development Corporation, emphasized this challenge during the public comment segment of the session.

Hernandez highlighted the ongoing struggle small business owners face in securing financial support, a sentiment echoed by committee members. "Access to affordable capital is one of the biggest challenges for small business owners," he stated, underscoring the importance of financial resources in fostering economic growth.

The meeting also included a public comment period, where Hernandez was the sole speaker. He expressed gratitude for the opportunity to share insights and acknowledged the committee's efforts in addressing these pressing issues. The session concluded with a call for continued dialogue and engagement from the public, reinforcing the committee's commitment to supporting small businesses across California.

As the state navigates its economic landscape, the discussions from this meeting signal a growing recognition of the need for accessible financial solutions to empower small businesses, which are vital to the state's economy.