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Federal Reserve Seminar Focuses On Small Business Finance

April 18, 2005View for printing

Advocacy Economist Examines 21st Century Finance Needs

WASHINGTON, D.C. – The rapidly changing world of small business finance is the focus of a seminar held during the Federal Reserve Bank of St. Louis’ “Striking the Right Notes on Entrepreneurship” conference in Memphis, Tenn. Today’s seminar, “Small Business Finance in the 21st Century,” features Office of Advocacy economist and leading small business finance expert Dr. Charles Ou.

“Part of Advocacy’s mission is to examine the critical issues surrounding small business finance and the economy,” said Dr. Chad Moutray, Chief Economist for the Office of Advocacy. “That’s why we are particularly pleased that the St. Louis Fed recognized the importance of our work and invited Dr. Ou to present the ‘Small Business Finance in the 21st Century’ seminar.”

The Office of Advocacy recently released a series of research reports examining various aspects of small business finance. Today’s seminar includes the release of Finance Companies and Small Business Borrowers: Evidence from the 1993 and 1998 Surveys of Small Business Finances, ( authored by George Haynes with funding from the Office of Advocacy. The report confirms the importance of finance companies as the second most important institutional supplier of credit to small business borrowers, particularly for vehicle loans, equipment loans, and lease financing.

Over the past six months the Office of Advocacy also released Banking Consolidation and Small Business Lending: A Review of Recent Research, The Effects of Mergers and Acquisitions on Small Business Lending by Large Banks, Small Business and Micro Business Lending in the United States, for Data Years 2002-2003, and The Impact of Bank Consolidation on Small Business Credit Availability.

These reports, and others, are available online at


Created by Congress in 1976, the Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. Appointed by the President and confirmed by the U.S. Senate, the Chief Counsel for Advocacy directs the office. The Chief Counsel advances the views, concerns, and interests of small business before Congress, the White House, federal agencies, federal courts, and state policy makers. Economic research, policy analyses, and small business outreach help identify issues of concern. Regional Advocates and an office in Washington, DC, support the Chief Counsel’s efforts. For more information on the Office of Advocacy, visit, or call (202) 205-6533.
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