(Washington, D.C.) - U.S. Senator Jeanne Shaheen (D-NH), a member of the Senate Committee on Small Business and Entrepreneurship, today announced the temporary extension of provisions aimed at boosting lending to small firms as part of the Senate's passage of a continuing resolution funding bill. The continuing resolution now heads to the House of Representatives, where it is expected to pass.
"As the engines of our economy, small businesses are critical to the creation of good-paying, sustainable jobs in New Hampshire," said Shaheen. "Boosting lending will help the small businesses of our state continue to reemerge from the economic recession and, in turn, help the people of our state do the same."
Today's continuing resolution, which funds the Federal government through March 4, 2011, includes the temporary extension of higher government guarantees on Small Business Administration (SBA) 7(a) loans and the elimination of borrower fees on 504 and 7(a) loans at no cost to the government. Since passage of the Small Business Jobs Act in September, the SBA has approved more than 140 loans to small businesses in New Hampshire.