U.S. Rep. Gary Peters Applauds President Obama Moving to Elevate Small Business Administrator to Cabinet Level Position

Press Release

Today U.S. Rep. Gary Peters, who helped write the Small Business Jobs Act to increase small business lending by community banks and credit unions, applauded President Obama's decision to elevate the position of Small Business Administrator to a cabinet level position. In 2010, Peters helped write and pass the Small Business Jobs Act which has helped Michigan lead the nation in new job creating SBA 7a loans. As a member of the House Small Business Committee, Peters has made helping small businesses grow and expand a primary focus of his work.

"Small businesses create two of every three new jobs, that's why I worked with President Obama to help write and pass the Small Business Jobs Act,"said U.S. Rep. Gary Peters. "As a member of the House Small Business Committee, I am confident that by making the position of Small Business Administrator a cabinet level position, President Obama is putting job creation and economic development on the top of his agenda and I urge my colleagues in Congress to move quickly to approve this."

In November 2011, it was announced that Michigan led the nation with 2,063 new SBA 7A loans in the year since the Small Business Jobs Act was passed. During the year, which ran from October 2010 - September 2011, these 2,063 SBA 7A loans totaled $689 million.

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