South Bend, Ind. – Today, Congressman Joe Donnelly hosted an event, titled “Leveling the Playing Field: Access to Capital,” for small business owners to learn about how to apply for loans in a tight credit market. This event is part of a series of events, called “Leveling the Playing Field,” that Congressman Donnelly will host this upcoming year to discuss how to better help Hoosier businesses and workers compete in the global economy.
“My first priority in Congress is making sure that every Hoosier who wants a job has a job, and the success of local small businesses is essential to achieving that goal,” said Donnelly. “The purpose of today’s event was to inform small business owners and employees on how to access loans in order to facilitate their growth, and I hope it was helpful to attendees.”
Dan Jones, President and COO of Business Development Corporation in South Bend and a panelist at the event, said, “I wish to express my thanks to Congressman Donnelly for hosting this ‘Access to Capital’ forum today. Mr. Donnelly has always been a pro-active supporter of small business, and by bringing together representatives from the Small Business Administration (SBA), area businesses, and banks familiar with the SBA 7a program and the flagship 504 program, various avenues for financing were provided. The SBA, the Business Development Corporation, and lenders reaffirmed their commitment to provide worthy businesses with the necessary capital to sustain and grow their companies.”
At the event, Donnelly spoke about the importance of loan programs to facilitate small business growth. Last year, Donnelly introduced two pieces of legislation that would help provide small businesses with specific tools to invest, grow, and protect jobs. Donnelly’s Small Business Administration 504 Loan Refinancing Extension Act of 2011, H.R. 2940, would extend a temporary SBA loan refinancing program to provide more small businesses with an expanded opportunity to lock in long-term, stable financing, as well as protect jobs. Donnelly’s Small Business Opportunity Expansion Act of 2011, H.R. 2949, would increase small business procurement goals in order to set higher expectations for federal agencies to provide small business owners with opportunities to provide products and services to the government.
For more information on Donnelly’s small business legislation, please visit his website.
Following Congressman Donnelly’s remarks, a Lender Relations Specialist from the SBA spoke about SBA’s services to small businesses; small business owners talked about their experience with SBA loan programs; and representatives from 1st Source Bank, Wells Fargo, and Lake City Bank discussed how to apply for small business loans.
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