Access to Credit: Urge your Senator to Support S. 2869 Now!

Small Businesses Can’t Wait Any Longer for Assistance

Status: President Obama and SBA Administrator Karen Mills have both indicated strong support for reducing borrower fees, extending the maximum 90% loan guarantee rate for SBA loans and increasing the maximum loan limits from $2 million to $5 million. Sens. Mary Landrieu (D-LA) and Olympia Snowe (R-ME) in December introduced legislation that would do exactly that—S. 2869, the Small Business Job Creation and Access to Capital Act.

With the Senate currently focusing its attention on moving a job creation package, we must act now to ensure that the important provisions for small franchised businesses are included. If the elements of S. 2869 were included in the Senate jobs bill, the SBA would help leverage a potential $16 billion in new lending this year that would create over 545,000 new jobs.

HOW YOU CAN HELP!

Scroll down to contact your Senators urging easier access to credit for franchises.

Click here for IFA’s official issue toolkit on access to credit.

Talking Points on Access to Credit:
Congress can create jobs faster and support small businesses by:

Extending the 90% SBA 7(a) loan program guarantee rate through 2010

Increasing the maximum 7(a) loan size to $5 million (Support S. 2869 introduced by Sens. Landrieu & Snowe)
Improving access to SBA loan programs specifically for small business start-up and expansion
These programs will potentially leverage $16 billion in new small business lending than can generate over 545,000 new jobs

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Questions? Please contact Jason Straczewski by phone at 202-662-0797 or email jstraczewski@franchise.org.

Thank you for participating in this important action alert!