[Congressional Record Volume 156, Number 16 (Wednesday, February 3, 2010)]
[Extensions of Remarks]
[Page E140]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  GROW AMERICA'S SMALL BUSINESSES ACT

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                        HON. PATRICK J. KENNEDY

                            of rhode island

                    in the house of representatives

                      Wednesday, February 3, 2010

  Mr. KENNEDY. Madam Speaker, last fall, after eight years of the 
previous administration looking the other way while Wall Street and the 
big banks gambled, we faced a near collapse of our financial system.
  Now, while we pick up the pieces, small businesses in Rhode Island 
and across the country are struggling to find credit.
  The lifeblood of our economy can't afford to wait until the banks are 
ready to lend again.
  Instead of waving fees, guaranteeing loans and doing cartwheels to 
make banks lend to small businesses, it's time we cut out the middle-
man.
  It's time we let the SBA lend directly to small businesses, so that 
our local economies aren't dependent on the decisions of Wall Street.
  We don't need Wall Street middle-men slowing down lending to small 
businesses and skimming profits at the same time.
  By lending 20 billion dollars directly to small businesses, the SBA 
can provide cost-effective help to struggling communities.
  There's another way to cut out the middle-man. Let's let small 
business owners lend to themselves by passing the GROW America's Small 
Businesses Act.

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