Minority and Small Business Leaders Advocate "Trickle Up Theory" to Jump Start Economy During National Capital Access Forum

WASHINGTON, DC--(Marketwire - May 12, 2009) - Members of Congress and the Administration, minority and small business owners, and leaders in venture capital and private equity advocated a "trickle up theory" to jump start the economy during a gathering in Washington this week to discuss access to capital for minority and small businesses. The National Capital Access Forum, presented by the U.S. Commerce Department's Minority Business Development Agency, Capital Access Forum, LLC, and George Washington University addressed strategies to improve the collective and individual economic circumstances of minorities.

"The forum addresses the frustrations of the small business community whose lines of credit have been pulled out from underneath them due to irresponsible actions on Wall Street," said Michael Granger, Chairman of the Capital Access Forum.

The keynote luncheon speakers yesterday were Rep. Eleanor Holmes Norton (D-DC) and David Wilhelm, former chairman of the Democratic National Committee and founder and chairman of Hopewell Ventures. Rep. Norton offered attendees concrete advice on growing their minority- and women-owned and small businesses by actively identifying and pursuing funding made available through the stimulus package. Wilhem followed with examples on the critical role that small businesses play in our country.

"The current economic crisis is a wake-up call for a more honest, transparent form of capitalism that will reconnect returns with true business building," said Wilhelm. "Businesses in underserved areas of the country, businesses owned by African Americans and Hispanics, by and large, don't go overboard when it comes to burning cash. They generally have a welcome focus on revenue and have had quicker paths to profitability."

"The trickledown theory is not trickling to the small American businesses that create more jobs and create less risk of loan default than large financial institutions and Fortune 100 companies," said Kenneth Feltman, co-chair of Capital Access Forum, LLC. "It's time for funds to trickle up."

Other speakers included Steven Rogers, Professor of Entrepreneurship, J.L. Kellogg Graduate School of Management at Northwestern University; Eugene Cornelius, District Director, U.S. Small Business Administration, and Nancy Strine, Manager & Financial Assistance, U.S. Department of Transportation.

Today's scheduled speakers include Rep. Chaka Fattah (D-PA); Senator James Clayborne, Majority Illinois State Senate; Eric Holoman, President, Magic Johnson Enterprises and Board Member of the Federal Reserve Bank of Los Angeles; Martin Gruenberg, Vice Chairman of the FDIC Board of Directors, Gary Grippo, Deputy Assistant Secretary for Fiscal Operations and Policy, U.S. Department of Treasury, and Lloyd A. Williams President and CEO, Greater Harlem Chamber of Commerce.

For more information about National Capital Access Forum, please visit: http://capitalaccessforum.net.

Contact Information: CONTACT: Elizabeth Kelley Grace 561/702-7471 Ellen Yui 301/270-8571