Gov. Gregoire, Washington Dept. of Financial Institutions statement on Small Business Jobs and Credit Act

For Immediate Release: September 16, 2010

OLYMPIA � Gov. Chris Gregoire and the Washington State Department of Financial Institutions today released the following statement, supporting the passage of legislation that could offer as much as $30 billion for small business lending and tax incentives for the creation of small business jobs:

�I commend Senators Murray and Cantwell for passing legislation that will bring much needed support to our state�s small businesses. Without question, small businesses are the backbone of our economy, and it will be small businesses that help to pull our state and nation out of the Great Recession.

�I particularly appreciate the inclusion of a small business lending fund program to support our state�s community banks that will, in turn, provide small businesses with much needed capital. I�ve long advocated for this program and am pleased to see the broad support in Congress for it. I appreciate the House passing a similar bill, and urge House members to pass the Senate�s version quickly and get it to the President for his signature.�

�Many of our state�s smaller businesses have been struggling in these tough economic times,� DFI Director Scott Jarvis said. �Freeing up this money for small business loans offers an opportunity to boost the Washington economy.�