More than 70% of new jobs come from small businesses. Today, there are 27 million small businesses in the US. About 71% of them have halted hiring and expansion until the economy improves or, until they can get a loan for expansion and development. Access to loans by small businesses has steadily decreased since 2008. For example, while loans to the 12.5 million minority-owned small businesses increased by $3.5 billion between 2000 and 2008, they have steadily decreased by about $4 billion between 2008 and 2010. These statistics come from the US 2011 census, the Small Business Association, and the Wall Street Journal. It points to a strong positive correlation between job creation and availability of funds to small businesses.
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