Dan Bishop: “I thank the gentleman from Ohio for yielding. Mr. Speaker, I rise in support of H.R. 8199, the 504 Credit Risk…”

“I thank the gentleman from Ohio for yielding. Mr. Speaker, I rise in support of H.R. 8199, the 504 Credit Risk Management Improvement Act of 2020. Small businesses are the core of our Nation's entrepreneurship, innovation, and creative activity. It is paramount that Congress invest its resources into empowering small businesses to fuel job growth and transform communities. The 504 program gives small businesses necessary resources, and this legislation will bolster and improve the implementation of that program. By giving small businesses access to fixed-rate financing, through the 504 program, small businesses that have limited capital are able to afford costly down payments. This program has made Queen City Catering a success story. When the company needed financing for a larger location, they turned to Business Expansion Funding Corporation, a certified development company in Charlotte that helped them secure a 504 loan. These funds led to a new state-of-the-art kitchen for high-quality food preparation, management offices, high-tech conference areas, and warehouse space for rental items. Better yet, since receiving this 504 loan, Queen City Catering has grown astronomically. This small business investment allowed the business to grow, while creating jobs for North Carolinians. Fellow Members of Congress, I implore you to imagine the impact that 504 loans have on small businesses in your communities.…”