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October 30, 2009: Rodriguez votes for Small Business Act to create jobs, bolster economy |
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Rodriguez votes for Small Business Act that creates jobs and bolsters economic growth
Washington, DC – U.S. Congressman Ciro D. Rodriguez (TX-23) voted Thursday for H.R. 3854, the Small Business Financing and Investment Act, that will create expanded opportunities for small business to expand and thrive.
“Our economy has taken a significant hit, and our small businesses in particular have faced serious challenges in accessing credit and attracting investment,” Congressman Rodriguez said. “This legislation expands access to capital, creates incentives to local lending institutions and creates an environment in which our small businesses can thrive. It will directly benefit the many small businesses – and the families they support – in the 23rd Congressional District.”
The bill extends provisions in the Recovery Act that have already supported tens of thousands of loans totaling $9 billion in new small business lending since the Recovery Act’s passage. It will help save or create 1.3 million jobs annually. It also expands SBA support, makes microloans more affordable for entrepreneurs, and encourages lenders to help rural businesses and veteran-owned businesses obtain affordable credit – all while simplifying the application process and cutting down on “red tape.” To help small business start ups, the bill supports a public/private partnership aimed at channeling investment capital to emerging companies. It also increases loans to help firms in the hard hit manufacturing sector, and directs investment money to impoverished communities, so that businesses can create jobs where they are needed the most.
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