Schrader meets with small business owners

The congressman is working on legislation to help small businesses get loans

By Matthew Graham

The Oregon City News, Jan 6, 2010 (2 Reader comments)

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Last year Coffee Rush closed two of its westside locations – and shouldn’t have, owners Ron and Lisa Yost told U.S. Congressman Kurt Schrader on Monday.

“If we had gotten support from the Small Business Association (and been able to get loans) we probably wouldn’t have closed those two stores,” Ron Yost said.

He had applied for a $35,000 SBA ARC, or America’s Recovery Capital Loan. It was denied by the banks. Then he applied for a disaster relief loan in the same amount. It too was denied.

“That should be a slam dunk,” Schrader said of the loans for Coffee Rush. “That really irritates me.”

The discussion at Coffee Rush in downtown Oregon City was the first of four stops by Schrader in downtown on Monday. He was meeting with small businesses to see how they were faring and what assistance they need in the ongoing recession.

Schrader said he had worked on a bill to alleviate those issues that had passed Congress with bipartisan support and was under consideration in the Senate.

The bill would allow the SBA to grant some loans, simplify the application process and eliminate some of the application fees.

“At the end of the day if banks are still stiffing people, the SBA can back into the lending business,” Schrader said. “There’s of course going to be good underwriting processes, we’re not just going to hand out money.”

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