Perlmutter fighting for small business and Main Street
by Perlmutter for Congress
Today, Ed Perlmutter was out there fighting for Colorado small businesses to help rebuild Main Street. As part of the Small Business Jobs and Credit Act (HR 5297), Perlmutter included an amendment to help small businesses access credit so they can hire more people into the private sector and help our economy get back on track.
The amendment allows small community banks to write-down some of their commercial real estate losses over six to 10 years as long as they provide more loans to small businesses.
Perlmutter said, “Small businesses are the engines of our economy, and they need access to responsible loans so they can hire workers and grow. Community banks and small businesses didn’t cause the financial downturn, but they are critical to getting us out of it. We need to give them a solid foundation so they can rebuild a strong and stable Main Street.”
“At grocery stores, walking neighborhoods and in phone conversations with the hardworking people of the 7th Congressional District, I’ve heard how small businesses can see the light at the end of the tunnel, but just need some time and a little help to get there. A provision similar to this one helped the agriculture industry during the tough times of the 1980s, and I believe this immediate solution will do the same for our small businesses today."
To hear Ed speaking about the amendment, click here.
