Small Business Finance News
Hispanic Community Praises Senate's Passage Of Small Business Lending Bill
Written by Jenna Weiner
Published: 9/22/2010
U.S. Hispanic Chamber of Commerce says passage will help Latinos in the United States
Among the biggest proponents of the Senate's recently passed small business lending bill are members of the Hispanic-owned business community.
The United States Hispanic Chamber of Commerce came out in support of the Congressional body's passage of the bill earlier this week, saying that it could have major benefits for members of their community. The Small Business Lending Fund Act, according to the USHCC President Javier Palomarez, will inject needed capital into the Hispanic community and increase the number of jobs available.
"By providing up to $30 billion in capital to small banks, this funding will go directly to the community banks that service our businesses. The small businesses that we represent are a vital source of job creation and economic stimulus that historically have been overlooked by the federal government and lenders.
While the USHCC was glad to hear the news for small business, the group said in a statement that there was "plenty of work left to be done."
The group made headlines recently for honoring the largest and most rapidly expanding Hispanic Business Enterprises. The USHCC's 31st annual Convention and Business Expo is currently taking place in Dallas, Texas.
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