Small Business Financing And Investment Act Of 2009

Floor Speech

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Mr. THOMPSON of Mississippi. Mr. Chair, I rise in firm support of H.R. 3854, the Small Business Financing and Investment Act.

As a vital part of our economy, small businesses account for at least 65 percent of American jobs.

The legislation we are considering today provides a much-needed increase in loans for the nation's small businesses.

During a time of economic recession, it is increasingly important that we provide access to start-up capital, long term financing, and other forms of investment capital to small businesses.

Hit particularly hard by these rough economic times, small businesses receive greater access to critical financing through this legislation.

The bill also provides financing opportunities for rural communities through the Rural Lender Outreach Program.

Another critical provision in H.R. 3854 creates a grant program for companies to begin recovery efforts after a natural disaster.

I am confident that the nation's underserved small businesses--particularly minority owned businesses--will be better served because of this important legislation.

Access to capital is one of the greatest challenges preventing fair competition for small businesses.

H.R. 3854 addresses accessibility to financing and overall investment.

I urge my colleagues to support this important legislation.

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