[Congressional Record (Bound Edition), Volume 156 (2010), Part 6]
[House]
[Pages 8534-8535]
[From the U.S. 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

[[Page 8535]]

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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