We call on Congress to act as quickly as possible the recommendation of SBA administrator Maria Contreras-Sweet follow the SBA 7 (a) loan guarantee cap of $ 18750000000-22500000000 $ increase for the year, 2015. The SBA reached its current 7 (a) set guarantee cap of $ 18.75 billion on Thursday, July 23 its flagship program on hold for the remainder of the fiscal year, unless Congress acts, and the President signed the law in.
Under these circumstances, no small business will be able to get new SBA 7 (a) loan financing until October 1, 2015 earliest. Until then, these companies will not be able to put this money into the economy, or use it to hire new workers. By the calculations of the SBA, this would $ 3-4000000000 dollars shelved, significantly slow the growth of small businesses and job creation.
We ask Congress and the President of the loan guarantee cap to $ 22500000000 to increase as soon as possible, so that no small business owner has to put their growth because they have a SBA 7 (a) loans can not receive. The Small Business Administration helps more than 60,000 companies that receive funding each year, and its flagship 7 (a) loan guarantee program works with zero cost to the taxpayer. We ask you for the Congress and the President to join in calling this cap us to increase and the Small Business Administration allow 7 (a) loans continue to provide for a period of fiscal 2015
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