Jim Matheson: “I rise as a supporter of H.R. 1332, the underlying bill, and I would particularly like to thank the sponsor of the bill…”

“I rise as a supporter of H.R. 1332, the underlying bill, and I would particularly like to thank the sponsor of the bill, Representative Melissa Bean, as well as the chairwoman of the Small Business Committee, Ms. Velazquez, and the ranking member, Mr. Chabot, for all their hard work in bringing this bipartisan bill to the floor today. Now, the 7(a) program is SBA's largest primary business loan program and provides loan guarantees to thousands of small businesses that are unable to obtain financing through the traditional lending market. That is why I am pleased that section 105 of the underlying bill will establish the Increased Veteran Participation Program to help increase 7(a) loans to military veterans, which declined by over $170 million between fiscal year 2005 and fiscal year 2006. Section 103 of the bill, which permanently establishes the Community Express Program, will also provide much needed loans to veterans. As 14 percent of small businesses in America are owned by veterans, we should do all we can to support those who have served our country. However, we should not leave out the men and women who continue to serve our country honorably every day in the military reserves. Small business ownership is extremely challenging, especially for members of the Reserve component of the Armed Forces who must carefully balance their civilian careers with their duty to serve our Nation.”