There are 34,752,434 small businesses in the United States.Small businesses employ 45.9% of American workers, which amounts toapproximately 59 million people. According to the Small BusinessAdministration, small businesses account for 43.5% of U.S. GDP.

The Consumer Financial Bureau states that entrepreneursoften use personal and family savings to start their businesses:

·        64.4% use personal and family savings

·        16.5% use business loans from banks orother financial institutions

·        9.1% use personal credit cards

·        8.7% use personal family assets (otherthan the owner's savings)

Chris Hurn is a business financing professional who hasfounded two companies listed on the Inc. 500. He specializes in U.S. SmallBusiness Administration lending and currently serves as CEO of Phoenix LenderServices and President of Community Bankshares, Inc. He has provided testimonybefore Congress regarding small business lending and has been referenced in 16business publications.

Throughout his career, Chris Hurn has established, managed,and advised financial and business enterprises related to small businesses, SBAlending, and economic development. As President of Community Bankshares Inc.(CBI), he oversees business areas such as SBA and USDA lending and financialsoftware solutions. Under his leadership, CBI was named the top USDA B&Ilender in the U.S. for 2024 and achieved Preferred Lender Program (PLP) statusfrom the SBA. Chris also holds the position of Chief Executive Partner atLendesca, a FinTech firm focused on business financing, and is the founder andformer CEO of Fountainhead, one of 17 nonbank lenders authorized to provide SBA7(a) loans. At Fountainhead, he facilitated nearly 300,000 loans totaling $5.15billion.

For more information: https://phoenixlenderservices.com/

LinkedIn: @ChrisHurn

Email: Churn@Communitybankshares.com