[Congressional Record Volume 164, Number 119 (Monday, July 16, 2018)]
[Extensions of Remarks]
[Page E1013]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        SMALL BUSINESS ADMINISTRATION 7(a) LOAN SUCCESS STORIES

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                           HON. STEVE CHABOT

                                of ohio

                    in the house of representatives

                         Monday, July 16, 2018

  Mr. CHABOT. Mr. Speaker, the Small Business Administration's 7(a) 
Loan Program doesn't have a flashy name. But to millions of small 
businesses owners across the country it can make or break their 
company.
   The program partners with financial institutions to provide loan 
guarantees that fund their startup costs, equipment expenses, or any 
other general business purpose.
   Not surprisingly, it is the agency's most popular program.
   That's why I, along with my colleague Ranking Member Velazquez, 
introduced the Small Business 7(a) Lending Oversight Reform Act which 
the President signed into law last month: to make sure the program is 
protected and running effectively.
   We have countless examples of small businesses all across America 
being helped by the 7(a) Loan Program from small manufacturers, to 
coffee shops, to garden centers, to gourmet candy stores, to you name 
it, and they create jobs for more and more Americans. I look forward to 
seeing how an improved 7(a) Loan Program helps small businesses not 
only survive, but thrive across the nation.

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