[Congressional Record Volume 143, Number 28 (Thursday, March 6, 1997)]
[House]
[Page H772]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  IMPROVE THE GUARANTEED LOAN PROGRAM

  (Mr. FORBES asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. FORBES. Mr. Speaker, I thank you for this opportunity, and I rise 
today to introduce legislation together with the gentlewoman from New 
York [Mrs. McCarthy] that would strengthen and improve the defense loan 
and technical assistance program, the so-called delta guaranteed loan 
program for small businesses.
  As a former SBA Administrator, I saw firsthand the important 
relationship between defense industries and small businesses. 
Unfortunately in the last decade with the downsizing of defense, we 
have seen areas of the country like my own Long Island, NY, region lose 
over 100,000 jobs as the defense industry cuts back.
  This important delta program is needed to ease the transition between 
the defense-based business and moving them into other commercial 
applications. My legislation would provide for an extension of this 
important program for small businesses. It would expand the 
opportunities for small businesses to participate by allowing them to 
go back up to 7 years if they have done about 25 percent of their 
business in the defense industry. In addition, it would raise the 
guaranteed loan amount up to 90 percent so more banks could help small 
businesses. It is important legislation and I urge its consideration.

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