Political Quotes

“I come to the floor this afternoon to ask the Senate to take up and pass two bipartisan no-cost bills that will help small businesses with one of their most urgent needs; that is, access to credit. Specifically, I am referring to Senator Risch's bill to enhance the SBA support for startup firms, which is called the Small Business Investment Company Capital Act, and the bill I have sponsored with Senator Isakson, the Commercial Real Estate and Economic Development Act, which is also known as the CREED Act. Both of these bills have broad bipartisan support. In April, almost 6 months ago, the Senate Committee on Small Business and Entrepreneurship voted unanimously to pass both of these bills. I had introduced the CREED Act with my friend from Georgia Senator Isakson to reinstate a new version of a successful no-cost program at the SBA known as 504 refinancing. That program had expired before many of the small businesses that needed help could benefit. Congress had created this refinancing program during the financial crisis when small business lending was frozen. As real estate values declined, many small businesses, even those that were performing well and were current on their mortgage payments, were unable to refinance their loans through traditional methods. Small businesses with equity in their properties were often unable to access that equity for additional operating capital. That 504 refinancing program worked.…”