Chicago, IL – “Number one issue in Washington is jobs”, U.S Senator Dick Durbin (D-IL) said today, and the Senate jobs proposal will give much needed credit to small businesses.
“The key to expanding employment and getting beyond unemployment… is in small business”. Sen. Durbin, visiting a local Chicago pastry shop, said that the Jobs Bill will give community banks incentive to loan money and small businesses tax credits for new hires.
“Small businesses around the country are desperate for loans and credit so they can expand their business, hire more people and bring us out of this recession”, Durbin said. With loans backed up by the federal government, Durbin stated the exposure for small banks will be minimal. Community banks will be required to give out loans to small businesses if they receive a portion of refunded TARP money. The loans from the banks will help grow small businesses “and expand the number of employees”, Durbin said.