SHAHEEN: SMALL BUSINESSES NEED ACCESS TO CREDIT, EXPORT SUPPORT, TAX RELIEF TO CREATE JOBSAugust 10, 2010
(Washington, D.C.) - U.S. Senator Jeanne Shaheen today visited ABTech, Inc. in Swanzey where she discussed how the Small Business Jobs Act will help New Hampshire businesses expand and create jobs. The Senate has recently been considering the legislation, which would promote exporting, offer targeted tax relief, and expand access to credit for small businesses. ABTech, which manufactures a variety of bearings used for aerospace, aircraft, optical, and other high tech applications, is an example of a New Hampshire business that would benefit from the Small Business Jobs Act.
"While we have seen some signs that our economy is beginning to recover in New Hampshire, we still need to create more jobs to fully emerge from this recession. That's why we need to pass the Small Business Jobs Act," said Shaheen. "The tax credits, lending opportunities, and export support in this legislation will help companies like ABTech get the help they need to grow in this economy."
ABTech currently employs 13 people and would benefit from a number of provisions in the Small Business Jobs Act. The bill would create two small business lending funds and enhance existing Small Business Administration (SBA) programs that can quickly get working capital into the hands of small businesses. In 2009, ABTech received a loan that was guaranteed by an SBA program that would receive support from the Small Business Jobs Act.
"As a small business in the precision manufacturing sector in southwestern New Hampshire, we are proud to provide our employees with good paying jobs and opportunities for personal growth and advancement. With that as our goal, we especially appreciate Senator Shaheen's efforts to provide creative resources for small businesses like ours to not only continue to grow but also to fuel our innovation and develop new core products. Small businesses need to have resources above and beyond what is available through traditional banking avenues and we are encouraged by Senator Shaheen's ongoing support in that regard," said Kenneth D. Abbott, president of ABTech.
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