News Release
« BackSmall Business Access to Credit
Tuesday, February 23, 2010
The White House has heard the message from small and medium-sized manufacturers who suffer from a lack of access to adequate and timely credit. NTMA/PMA One Voice is working with Senators, Representatives and congressional committee staff to craft a proposal that will solve the credit situation without increasing federal spending. A One Voice member is testifying before two House of Representatives Committees on February 26 on behalf of small and medium-sized manufacturers.
As the Administration and Congress are considering creating small business loan pools involving community banks, One Voice continues to weigh in, calling for specific federal regulatory guidelines to govern these loans to encourage both lenders and borrowers to participate. In addition, the White House said it will temporarily increase the cap on Small Business Administration Express loans from the current maximum of $350,000 to $1 million and expand the SBA program to support refinancing for owner-occupied commercial real-estate loans.
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