ABSTRACT

State Small Business Credit Initiative: Implementation and Funding Issues [December 18, 2013]   [open pdf - 404KB]

"Congressional interest in small business access to capital has increased in recent years because of concerns that small businesses might be prevented from accessing sufficient capital to enable them to assist in the economic recovery. Some, including President Obama, have argued that the federal government should provide additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations and create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, reform of financial credit market regulation, and federal fiscal restraint as the best means to assist small businesses and create jobs. During the 111th Congress, P.L. [Public Law] 111-240, the Small Business Jobs Act of 2010, provided the Small Business Administration (SBA) additional funding and enhanced several SBA lending programs in an effort to assist small businesses access capital. The act also authorized the Secretary of the Treasury to establish a $30 billion Small Business Lending Fund (SBLF; $4.0 billion was issued) to encourage community banks with less than $10 billion in assets to increase their lending to small businesses and a $1.5 billion State Small Business Credit Initiative (SSBCI)."

Report Number:
CRS Report for Congress, R42581
Author:
Publisher:
Date:
2013-12-18
Series:
Copyright:
Public Domain
Retrieved From:
The National Agricultural Law Center: http://nationalaglawcenter.org/
Format:
pdf
Media Type:
application/pdf
URL:
Help with citations