Law Rep. Peters Helped Write and Pass Results in Record Small Business Loans and New Jobs in Michigan

Press Release

During the first year of lending under the Small Business Jobs Act, which Rep. Gary Peters helped write and pass, Michigan's banks and credit unions led the nation in small business lending by making 2,063 Small Business Administration (SBA) loans totaling $689 million from October 2010 - September 2011. As a member of both the Small Businesses and the Financial Services Committees, Rep. Gary Peters has taken an active role in working to expand small business lending to grow our economy and create jobs locally including writing important sections of the Small Business Jobs Act which was signed into law on September 27, 2010. Today the results of this work has proven successful for Michigan's small businesses and its workers.

"Small businesses create two thirds of all new jobs and that's why I worked so hard to help write and pass a bill which is creating jobs in Michigan and growing our local economy," said Congressman Gary Peters. "Michiganders are tackling tough economic challenges and I'm proud to have worked with President Obama to develop a common sense plan to get small businesses the loans they need to get the Greater Detroit region and all of America back to work."

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