Tim Walz: “Like the last speaker, I had the opportunity last week to visit an American manufacturer, Blue Star Power Systems, a…”

“Like the last speaker, I had the opportunity last week to visit an American manufacturer, Blue Star Power Systems, a small business in southern Minnesota employing 35 people that manufactures backup generators for schools, hospitals, and businesses. Doug Fahrforth, the CFO of Blue Star, told me something that made me pause. He said that nowadays his bank will tell him this: We believe in you; we believe in your product; but unless there is no risk, we don't want anything to do with you. Our economic system relies upon risks that small businesses take, like Blue Star Power, to create innovative products and services which boost our economy and grow our middle class. Yesterday there was a New York Times story that said banks said they were turning depositors away at the door because the banks have more money than they know what to do with. I have a couple of ideas what they can do with that money. Invest in Main Street. Invest in businesses like Blue Star Power Systems who create first class products right here in the United States. Blue Star also told me there are things that we can do in Congress that will streamline the Small Business Administration and make it more efficient and effective. I look forward to working with them on that. There are actions that we can take right now so that Blue Star Power and other businesses just like them can continue to innovate and create jobs in America. ____________________”