Graves Holds Hearing with SBA Administrator Karen Mills

Statement

House Small Business Committee Chairman Sam Graves (R-MO) today held a full committee hearing to examine the Small Business Administration's (SBA) programs that provide capital to small business. Specifically, the hearing focused on the SBA's fiscal year 2011 performance in providing needed financing to small businesses. SBA Administrator Karen Mills and private sector partners of the SBA provided testimony.

"Access to capital is one of the most important resources for small businesses to grow and hire more workers," said Graves. "But our Committee continues to hear from small business owners who say they cannot get the funds necessary to run their business-- and at the same time we hear from banks who say they have the capital available to lend but are trying to limit risk and manage increasing regulatory requirements. We must find a way to bridge this gap.

"Our goal is to make sure that SBA programs are effectively getting funds into the hands of small firms, while at the same time, ensuring taxpayer dollars are being used efficiently. The return on investment should be job creation and economic growth. Small businesses are our best hope for leading us to economic recovery; and increased consumer demand, more economic certainty and the availability of credit are all part of that equation."

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