FOR IMMEDIATE RELEASE 
Thursday September 9, 2010

CONTACT: Alan Mlynek
Office: (202) 225-5802

SMALL BUSINESS LENDING PACKAGE NEARS SENATE VOTE
 

(Troy, MI) – Representative Gary Peters issued the following statement after news reports indicated that the United States Senate has enough votes to advance small business lending legislation.  Peters helped author and guide the legislation to passage in the House of Representatives earlier this year. 

"I have fought for months to draw attention to the numerous small business owners across my district and the state that are ready to add jobs but cannot because Wall Street Banks refuse to give them access to the credit they need,” said Rep. Peters.  “Our small businesses and entrepreneurs create two out of every three new jobs in this country and we simply cannot allow them to be held hostage by delay and inaction.   It is long past time for action and I hope the Senate acts quickly."

The Small Business Jobs and Credit Act will promote private sector small business lending and contains a section written by Peters that will allow states to create or strengthen existing innovative small business lending programs.  The legislation passed the House in June.

Peters’ work on the legislation was guided by conversations with small business owners across his district and a field hearing he convened last year during which other Members of Congress came to Michigan to hear from local business owners directly. 

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