Olympia Snowe introduces the "Next Step for Main Street Credit Availability Act of 2009" (S.1615)
This bill would help bolster credit availability for small business by:
- Increase the SBA 7(a) and 504 loan limits to $5 million. Increase the micro loan program limit to $50,000. Make it easier for those with existing SBA loans to refinance the remaining balance. Create an online clearing house thru which individuals can compare rates from lenders offering loans with an SBA guarantee.
These changes are a great start, but will not incent lenders to actually lend to small business! More change is needed, we must continue to lobby our legislators and make sure that we are the "squeaky wheel"!
To that effect, I would like to personally encourage each and every one of you to register and attend the IFA Public Affairs Conference (formerly Franchise Appreciation Day) on September 14-15 in Washington DC.
Click on this link to get more information: http://www.franchise.org/publicaffairs.aspx
This event brings each and every one of us face to face with our lawmakers so we can voice our concerns over issues that affect our livelihood. If we do not act, we will not get help. The record of this administration speaks for itself, as it allocated all of 1/8000th of the stimulus funds to help small business! Our agenda does not end with capital access, the new Health Care Agenda and Card Check can significantly impact all of us, and the future tax implications of all of this spending will reach into our pockets for years to come.
Please make arrangements to make sure that your company is represented. Better yet, come yourself! There is no registration fee for this event, and you will be doing your civic duty as an American! The entire Siegel team will be represented there, and we look forward to seeing you in Washington!
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