Small Business Financing And Investment Act Of 2009

Floor Speech

* Ms. RICHARDSON. Mr. Chair, I rise in strong support of H.R. 3854 ``The Small Business Financing and Investment Act'' which will help support our small businesses and hasten our economic recovery. As we all know, small businesses are the backbone of our economy. More than half of all Americans work at or own a small business. Small businesses have been responsible for most of the new jobs created in this country. Anyone who talks about getting our economy on track and does not talk about what we need to do for small business is missing a huge piece of the puzzle.

* I firmly support H.R. 3854 because, among other things, it channels investment capital into small business start-ups through public private partnerships, makes microloans more affordable for budding entrepreneurs, and reduces fees for lending programs to help more small businesses afford to raise the capital they need to succeed. Equally important, the legislation will provide much needed assistance to entrepreneurs and communities that need it most by expanding equity investment to low income communities and helping rural and veteran-owned businesses obtain loans.

* Mr. Chair, H.R. 3854 all told the bill is expected to support about $44 billion in small business lending annually, which will help to create or save approximately 1.5 million jobs each year. For our economy to recover and continue to grow, it needs to create jobs for persons seeking work. This legislation will create jobs and thus is worthy of our support. I urge all of my colleagues to join me in voting for H.R. 3854.

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