Pelosi Statement on House Passage of Small Businesses Financing and Investment Act

Pelosi Statement on House Passage of Small Businesses Financing and Investment
Act

WASHINGTON, Oct. 29 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi issued the
following statement today following the House passage of the Small Business
Financing and Investment Act. The legislation will comprehensively reform
small business lending programs to spur job creation and meet the needs of
American small business. The House passed the bill by a vote of 389 to 32.

"Small businesses are the engines of our economic growth and the number one
source of good-paying jobs nationwide. As we emerge from this recession, our
recovery will depend on small business owners and entrepreneurs -- the men and
women who take risks, embrace opportunity, hire workers and pay them a decent
wage, and reach for their piece of the American dream.

"The Small Business Financing and Investment Act will spur job creation and
innovation, and help save or create 1.3 million jobs each year. This
bipartisan bill makes it easier for businesses to get loans and access
capital, and gives local banks and credit unions the confidence to open
lending to a wider community of entrepreneurs. It builds on the success of the
American Recovery and Reinvestment Act, extending key provisions that
eliminated fees for Small Business Administration loans. And it provides tools
for veterans, women, and rural families to get a head-start on a new business,
create jobs, and succeed.

"Today's vote marks a critical step forward in our ongoing effort to put
Americans back to work and place our country back on the path to prosperity.
By offering small businesses the tools and resources to endure our current
crisis and thrive in the future, we are laying the foundation for our recovery
and placing a down payment on our long-term economic growth."

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SOURCE Office of the Speaker of the House

Brendan Daly, Nadeam Elshami, Drew Hammill, +1-202-226-7616, all of the Office
of the Speaker of the House