Hoyer Statement on the Small Business Financing and Investment Act

For Immediate Release:

October 29, 2009

Contact:Katie Grant
Stephanie Lundberg
(202) 225 - 3130

WASHINGTON, DC - House Majority Leader Steny H. Hoyer (MD) released the following statement on the Small Business Financing and Investment Act, which passed the House today:
 
“Today, the House passed the Small Business Financing and Investment Act of 2009, a measure to improve lending and access to credit for small businesses. The bill will support $44 billion in small business lending every year, helping to save or create 1.3 million jobs annually.
 
“Small businesses are responsible for nearly two-thirds of the American jobs created over the past 15 years; but in the recession, they have struggled to access the loans they need to pay current employees and hire new ones. That is why this bill is a significant contribution to the health of America’s job-creators, and to our economy as a whole.
 
“Today’s news that the economy grew at a rate of 3.5 percent between July and September—the best growth in two years—gives reason to believe that we are well on the road to recovery. But the recovery will not be complete until millions of Americans are back at work, which is what makes today’s small business bill so important.”
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