Julian Bond: “A recent visitor to my Small Business Committee office spoke excitedly that his small business won a Government…”

“A recent visitor to my Small Business Committee office spoke excitedly that his small business won a Government contract. But when he sought financing at a local bank, the bank would not lend to him unless he was willing to pay a 28-percent interest rate. It is odd to see the Government willing to do business with him but banks consider the small business too risky. The SBA fills that role, and this amendment will ensure that the SBA can continue to do that. I urge adoption of this bipartisan amendment on SBA. The funds are critical for SBA programs such as HUBZones, 7(a) loan programs, and the BDC program.”