Political Quotes

“As members of the Small Business Committee, we hear day in and day out how access to capital continues to challenge job creation and job growth. We must continue to work in a bipartisan fashion to create an environment for small businesses to flourish and grow. One resource available to small employers is the Small Business Investment Company program, or the SBIC program, which currently runs on a zero cost subsidy to the American taxpayer. The program enhances access to capital for small business throughout the Nation by utilizing a private sector-owned and SBA-licensed formula to increase equity capital. Within the SBIC program, banks and Federal savings associations are limited to the amount of capital or surplus they can invest in an SBIC. Under current statute, the limit prevents no more than a 5 percent investment. The legislation we have before us today, H.R. 2364, the Investing in Main Street Act of 2017, increases this investment threshold to 15 percent and requires any investment above the 5 percent mark to be subject to approval by the bank's regulator. This new 15 percent marker brings parity to the program with rules by the Office of the Comptroller of the Currency. As the Nation's small businesses continue to experience difficulties accessing capital, assistance like the SBIC program delivers, and has a track record to prove it.…”