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April 15, 2010

Federal Reserve Presenting Small Businesses Credit Forum in Chapel Hill

Richmond, VA

The Federal Reserve Bank of Richmond is holding a forum on small business credit issues on April 20 from 8:30 a.m. until 1 p.m. in the William and Ida Friday Center for Continuing Education at the University of North Carolina in Chapel Hill, N.C.

The forum, "Addressing the Financing Needs of Small Businesses," is part of a series of events designed to help identify small business financing needs. The forum offers an opportunity to convene regional partners and highlight regional as well as national themes in credit access and technical support for small businesses.

The Richmond Fed's Community Affairs function is presenting the forum as part of a national effort coordinated throughout the Federal Reserve System.

Small businesses play a critical role in America's economy — employing more than 50 percent of private sector workers and contributing significantly to the GDP. Many businesses report significant difficulty in obtaining or renewing credit from some financial institutions to support their operations. Collecting information at a regional and market level on small business access to credit and other issues helps the Richmond Fed verify any local gaps in small business credit products, types of financial institutions and demographic groups.

The regional forum also will provide the Fed with various perspectives from key delivery sources of small business credit and technical assistance on what is working effectively and what may be promising practices for replication in other markets.

A list of partners and more information is available online.

The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.


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