Political Quotes

“Small businesses are the number one source of new job growth in our country, and their success will be critical to our Nation moving out of economic recession and toward recovery. One of the key drivers of small business success is access to capital. Unfortunately, the credit crunch has prevented them from accessing the capital they need to grow and to create jobs. The Recovery Act and Small Business Administration lending programs such as 504 loans, 7(a) loans, and America's Recovery Capital, or ARC loans, are helping to stem the tide of job loss and getting our economy moving again, but more needs to be done. In order to expand the availability of credit to small businesses, we must strengthen our community banks to allow them to lend to deserving small businesses. Our Nation's community banks play a vital role in small business lending, but the financial crisis has hamstrung their ability to make these loans. I look forward to seeing how the administration's Small Business Lending Fund proposal will help our local community banks provide loans to give small businesses access to the tools they need to build their own businesses and to start hiring again. I have heard from many community banks in my district that Federal regulatory policies are also inhibiting their ability to lend. These banks are struggling because Federal regulators are requiring them to increase capital above already well-capitalized levels and shrink their balance sheets.…”