Demand For Small Business Loans High, Federal Funds Low - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Demand For Small Business Loans High, Federal Funds Low

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YAKIMA, Wash.--Demand is high for small business loans in Yakima,, but agencies said federal funds are running low.

A spokesperson for Rural Community Development Resources said the sequester has stalled the number of small business expansions. The organization is now applying for a $500,000 federal grant, which will help around seven local businesses and create at least 20 jobs.

"The things we can do to put a safety net under these businesses in the region, I think shores up our potential that they grow," said David McFadden, the President of the Yakima County Development Association. "That they can be successful, and that they can carry payrolls that benefit our economy."

The organization said the $500,000 grant will only last two or three years.

 

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