[Congressional Record Volume 155, Number 162 (Tuesday, November 3, 2009)]
[Extensions of Remarks]
[Page E2691]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          SMALL BUSINESS FINANCING AND INVESTMENT ACT OF 2009

                                 ______
                                 

                               speech of

                         HON. LAURA RICHARDSON

                             of california

                    in the house of representatives

                       Thursday, October 29, 2009

       The House in Committee of the Whole House on the State of 
     the Union had under consideration of the bill (H.R. 3854) to 
     amend the Small Business Act and the Small Business 
     Investment Act of 1958 to improve programs providing access 
     to capital under such Acts, and for other purposes:
  Ms. RICHARDSON. Mr. Chair, I rise in strong support of H.R. 3854 
``The Small Business Financing and Investment Act'' which will help 
support our small businesses and hasten our economic recovery. As we 
all know, small businesses are the backbone of our economy. More than 
half of all Americans work at or own a small business. Small businesses 
have been responsible for most of the new jobs created in this country. 
Anyone who talks about getting our economy on track and does not talk 
about what we need to do for small business is missing a huge piece of 
the puzzle.
  I firmly support H.R. 3854 because, among other things, it channels 
investment capital into small business start-ups through public private 
partnerships, makes microloans more affordable for budding 
entrepreneurs, and reduces fees for lending programs to help more small 
businesses afford to raise the capital they need to succeed. Equally 
important, the legislation will provide much needed assistance to 
entrepreneurs and communities that need it most by expanding equity 
investment to low income communities and helping rural and veteran-
owned businesses obtain loans.
  Mr. Chair, H.R. 3854 all told the bill is expected to support about 
$44 billion in small business lending annually, which will help to 
create or save approximately 1.5 million jobs each year. For our 
economy to recover and continue to grow, it needs to create jobs for 
persons seeking work. This legislation will create jobs and thus is 
worthy of our support. I urge all of my colleagues to join me in voting 
for H.R. 3854.

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