Issue Position: Ensuring Access to Credit

Issue Position

Issue Position: Ensuring Access to Credit

The credit crunch has hit small businesses especially hard. Too many small business owners today are relying on credit cards with exorbitant interest rates to obtain the working capital they need to keep their businesses going. To help open up credit markets for small business again, Senator Shaheen voted to temporarily waive Small Business Administration (SBA) loan fees and increase SBA loan guarantees. She also voted to increase funding for microloans for start-up small businesses and for a short-term stabilization loan program to help small business borrowers experiencing immediate financial hardship. As a member of the Small Business Committee, Senator Shaheen will push Congress to take more aggressive action to unlock frozen credit markets if there is a need to do more in the coming months to help small businesses access the working capital they need to survive during a recession.

Source