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Dreier Votes to Support Small Businesses
WASHINGTON, D.C. – Congressman David Dreier (R-San Dimas) voted today to help small businesses access the capital needed to expand and create jobs for hard-working Americans. Dreier supported H.R. 3854, the Small Business Financing and Investment Act, which was approved with broad bipartisan support, 389 to 32.
“I’ve heard from many small businesses about the challenges they face in this difficult economy,” Dreier said. “Small businesses are the true engine of economic growth and job creation. That’s why we must do everything we possibly can to help small employers access the capital they need to grow, hire more workers and get our economy back on its feet.”
H.R. 3854 enhances several Small Business Administration (SBA) programs to better provide financing for small firms. The bill increases the maximum loan amount for the SBA 7(a) loan program from $2 million to $3 million. Additionally, the bill authorizes the SBA to guarantee $5 billion in loans in Fiscal Year 2010 and $5.5 billion in loans in Fiscal Year 2011 for the Small Business Investment Company program. Finally, H.R. 3854 makes available $80 million in assistance grants and $110 million for the SBA Microloan program, which helps small businesses secure loans for operations or to purchase supplies and equipment.
Dreier said that in addition to programs like these, we must also put in place pro-growth policies that provide direct and immediate help for small businesses. He continued, “I, along with several of my colleagues, have put forth a small business stimulus package that will provide small firms with the resources they need to grow their businesses and put more Americans to work.” The small business stimulus package developed by the House GOP Economic Recovery and Healthcare Solutions Groups would reduce the tax burden on small businesses and the workers they employ, give small businesses and their employees greater flexibility in the healthcare choices, and provide genuine legal reform to bring down costs for small businesses.