Political Quotes

“I have come to the floor to speak about an opportunity to expand capital for small businesses by lifting the arbitrary limit on the credit unions ability to serve small businesses. I have done this on a number of occasions over the last couple of years so the President knows that this is a cause that is important to me. It is important to me because there is a phenomenon in our country where small businesses are starving for credit. Yet the Federal Government is still standing in their way. I am talking about the smallest of small local businesses. These are the men and women who need $50,000, $100,000 or maybe $200,000 to move from their garage to a retail storefront, to renovate their sales floor or upgrade their equipment and expand. They are often too small to be worth a bank's time or they don't fit the lending guidelines of the bank's corporate headquarters. But these small business owners know credit unions in their community have money to lend and these credit unions truly want to help. They probably see each other at Little League games, church, play cards together--they socialize. Instead of being able to offer the bridge loans that the small local businesses need, the credit unions end up saying: Sorry, we want to help you but the Federal Government has set a limit on how many businesses we can loan funds to. Now we are moving to the Jumpstart Our Business Startups Act, or the JOBS Act, that the House passed last week.…”