A Pepperdine study shows that the majority of businesses want to expand and hire more, but can’t get the capitol to do so.

Nationwide, just 40% of privately held businesses said they have the resources to grow, said John Paglia, who surveyed 559 businesses and 1,430 lenders and investors for the Pepperdine University Private Markets Capital Project.

The findings come at a time when there is national concern about small business’ access to loans.

The results corroborate what business owners have been saying for months, Paglia said — that they can’t get loans, and as a result they can’t expand or hire new people.

“It’s inhibiting growth opportunities,” said Paglia, a finance professor at the university’s Graziadio School of Business and Management.

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Many businesses want to expand but lack resources, study finds