LA CROSSE, WI (WXOW)—It's the second day of the government shutdown; according to one estimate, the shutdown costs $300 million a day or $12.5 million an hour.
Small businesses looking to secure loans are among those feeling the affects.
The Small Business Administration is closed so it can't verify information and decide if it's a qualified loan.
So for now, small business loans are being put on hold.
An spokesperson at State Bank of La Crosse said people are welcome to come into the bank and put together a loan package so when the Small Business Administration opens the bank can send it in right away.
Executive Vice President Wayne Oliver worries the delay could hurt the economy.
"As we all know the economy is pretty fragile right now and a lot of the growth is coming from the small business sector. (We) really don't want to hurt that growth for very long," Oliver said.
He said if the shutdown continues for a couple of weeks, it could slow down the loan process even after the Small Business Administration is opened because of the backlog.
All content © Copyright 2000 - 2013 WorldNow and WXOW. All Rights Reserved.
Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Theresa Wopat at 507-895-9969. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at email@example.com.