Michaud Urges Swift Passage of Bill to Boost Small Business Lending

WASHINGTON, DC - Today, Congressman Mike Michaud, a member of the Small Business Committee, delivered the following statement on the floor of the House of Representatives on the need to boost small business lending for entrepreneurs in Maine and throughout the United States.

"I rise today in support of the President's effort to boost small business lending. Later this week, we're taking up a bill that my colleagues and I on the Small Business Committee drafted to do just that. Each year, the bill is expected to support $44 billion in small business lending, helping to save or create 1.3 million jobs annually.

"Small businesses are the backbone of Maine's economy and they are the key to our economic recovery. The recession and credit crunch have hurt their access to capital and they can't afford inaction. This bill will give them additional resources when they need it most. I urge the Senate to join the House in passing a strong bill that we can get to the President's desk as soon as possible."

On Thursday, the House is expected to pass a bill that would update and improve the Small Business Administration's lending programs, providing a much needed boost to small businesses struggling to access affordable credit as a result of the recession and credit crunch.

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