California bill would help small businesses get loans

The state of California Legislature has unanimously passed a bill to improve the state’s program for small business loans.

Assembly Bill 201, introduced by Pasadena Democrat Chris Holden, requires the Office of Small Business Advocate to include information on its website about the state’s Small Business Loan Guarantee Program, including facts on direct lending and disaster loans. The advocate is part of the Governor’s Office of Business and Economic Development, known as GO-Biz, and linking the lending information with that department could raise the loan program’s profile for businesses.