NAM Chief Economist Chad Moutray participated in the Small Business Lending and Investment Summit yesterday at an economic panel organized by the National Association of Development Companies (NADCO). He was joined by Todd McCracken of the National Small Business Association, with J.D. Harrison of the Washington Post serving as the moderator.
Moutray focused on the importance of access to capital for certain manufacturers, noting that “for those manufacturers who see access to credit as a challenge, it often among their most pressing concerns. They are often not able to take on new business, hire additional workers, and expand without adequate capital.” Moutray noted that tougher lending standards since the recession are often cited as one of the larger concerns, particularly for smaller firms.
The good news is that an improving economy should also help to alleviate some of these challenges. Moutray gave a presentation on manufacturers’ economic outlook and what they are facing in the current economic environment. To view Moutray’s most recent Economic Report, click here.
Moutray ended the panel by pressing the importance of the U.S. Export-Import Bank (Ex-Im) as a vital tool to help grow U.S. exports and increase American jobs. Click here for a recent op-ed by NAM President & CEO Jay Timmons on the importance of Ex-Im Bank and its mission to support U.S. jobs through exports.