Political Quotes

“Mr. Speaker, as has been the tradition for the past 40 years, the President of the United States has issued a proclamation calling for the celebration of Small Business Week, which I include for the Record today. We are now in the middle of Small Business Week for 2003, which is being sponsored by the Small Business Administration. The purpose of this week's celebration is to honor over 25 million businesses that make up the U.S. small business community. It is very appropriate for us, today, to recognize the importance of America's small businesses and the significant role played by the Small Business Administration in our Nation's economic growth. This year is particularly important in recognizing the 50th anniversary of the SBA. President Eisenhower and Congress established the SBA in 1953 to provide financial and management assistance to startup and growing small businesses. Over the past 50 years, the SBA has helped countless numbers of small businesses survive and succeed in this economy. It maintains a portfolio of guaranteed small business loans and disaster loans totaling more than $45 billion. The 7(a) program alone accounts for approximately 40 to 50 percent of all long-term capital needs for small businesses. The SBA has also guaranteed another $13 billion in venture capital investments to small businesses.”