[Congressional Record Volume 156, Number 76 (Wednesday, May 19, 2010)]
[House]
[Page H3547]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      SMALL BUSINESSES NEED CREDIT

  (Mrs. MALONEY asked and was given permission to address the House for 
1 minute.)
  Mrs. MALONEY. Mr. Speaker, the Joint Economic Committee released a 
report this week that looks at how tighter credit standards have hit 
small businesses especially hard. That means that now, even as big and 
mid-sized businesses have begun adding jobs once again, small 
businesses are struggling to expand and put Americans back to work. 
Small businesses are rightly considered to be the great engine of the 
American economy. Seventy-five percent of all employees work for 
businesses with less than 250 employees. And if small businesses are 
the engine, then credit is the fuel that keeps that engine going. While 
large and mid-sized firms have multiple funding sources, including the 
public debt market, small businesses rely almost completely on 
financial institutions. Improving credit availability to small 
businesses will help to grow our economy and create jobs. That is why 
the Financial Services Committee today is working on legislation to 
create a small business loan fund. It's an investment in America that 
is truly worthy of a AAA rating.

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