NACS Urges Senate to Support Small Business Access to Credit

NACS urges senatorial support for small business loan maximums, extension of SBA loan provisions.

July 20, 2010

WASHINGTON - NACS has signed on to a letter [link: provide link] that addresses the extension of credit to American small businesses, offering support for specific elements of S. 2869, the Small Business Job Creation and Access to Capital Act.

The letter urges support of several provisions in the Senate??s substitute amendment to H.R. 5297, the Small business Lending Fund Act, which increases credit access for small businesses.

It requests support for increases in the SBA??s 7(a) and 504 loan maximums from $2 million to $5 million, and in support of that request, it notes the Congressional Budget Office (CBO) has determined that both of those provisions do not affect spending or revenue.

The letter also seeks support for appropriations to extend SBA loan provisions of the American Recovery and Reinvestment Act (ARRA) through the end of the year, noting that funds were depleted last fall and that loan volume has since declined.

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