Andy Kim: “During the last Congress, Mr. Burchett and I introduced this important bill as part of a two-bill microloan major impact…”

“During the last Congress, Mr. Burchett and I introduced this important bill as part of a two-bill microloan major impact package. Together, these bills would increase the number of microloan lenders in our communities, increase access to capital, and ensure greater transparency around how taxpayer dollars are being spent by the SBA. I look forward to continuing to work with the chairman and the ranking member, as well as Congressman Burchett to again advance these pieces of legislation. Today, I rise in support of the Microloan Transparency and Accountability Act, and I look forward to working with them to advance the Microloan Improvement Act in the 118th Congress, as well. I have heard from a diverse range of businessowners across New Jersey's Third District about how just small increases in access to capital could make an enormous impact for them. These businessowners aren't asking for the moon. Many of them are in communities that are underserved and may not have a credit history, extensive past business experience, or the luxury of coming from wealth, but they have a dream. They are entrepreneurial, and with a small investment, a microloan to get started in some cases, they can launch their business, chase their dreams, create jobs, and transform communities. By passing this bill, we can help enhance microloans in rural areas and provide greater transparency to ensure we are using taxpayer dollars efficiently and effectively.…”