| Michaud Praises Measure that would Boost Maine Small Business Lending |
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| Thursday, October 29 2009 | |
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WASHINGTON, DC – Today, Congressman Mike Michaud, a member of the House Small Business Committee, praised House consideration of H.R. 3854, the “Small Business Financing and Investment Act.” The bill, which is expected to pass this afternoon, would comprehensively reform the Small Business Administration’s (SBA) lending programs in order to spur job creation and meet the needs of American small businesses. “In 2009, 513 SBA loans were made in Maine, totaling just over $74.8 million that went to help our state’s small businesses,” said Michaud. “I strongly support the president’s push to boost small business lending. Today we’re taking up a bill that my colleagues and I on the Small Business Committee drafted to do just that. Each year, the bill is expected to support $44 billion in small business lending, helping to save or create 1.3 million jobs annually.” A fact sheet on the bill can be found here. A profile of Maine’s small businesses produced by the SBA can be found here. “Small businesses are the backbone of Maine’s economy and they are the key to our economic recovery. The recession and credit crunch have hurt their access to capital and they can’t afford inaction. This bill would give them additional resources when they need it most. I urge the Senate to join the House in passing a strong bill that we can get to the president’s desk as soon as possible.”
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