To:Ã‚ Ã‚ Ã‚ Ã‚ Ã‚ Ã‚ Ã‚ Ã‚ Ã‚ Members of the National Restaurant Association
CC:Ã‚ Ã‚ Ã‚ Ã‚ Ã‚ Ã‚ Ã‚ Ã‚ State Restaurant Association Executives
From:Ã‚ Ã‚ Ã‚ Ã‚ Ã‚ Dawn Sweeney
Date:Ã‚ Ã‚ Ã‚ Ã‚ Ã‚ Ã‚ October 21, 2009
Subject:Ã‚ Greater Access to Credit for Small Businesses
The White House announced measures today to help banks provide credit to small businesses. The plan is intended to help small businesses recover from the recession. The Obama Administration says the measures will make it easier for small businesses to access credit and create jobs.
The White House plan calls for lower-cost capital for community banks and increased limits for certain Small Business Administration-backed loans. Also included are plans to convene a conference of regulators, lenders, Congress and small businesses to discuss more ways to help small businesses access credit. The National Restaurant Association will ensure the meeting includes restaurant industry representatives who can explain the industry’s unique lending needs and risks.
The Association is working closely with the Obama Administration and the International Franchise Association to expand the flow of capital to small businesses. More than 98 percent of restaurant companies fall under the SBAÃ¢â‚¬â„¢s definition of a small business. We continue to believe that expanding access to capital will help restaurant operators meet their day-to-day payroll needs and preserve thousands of jobs.
For more information, visit www.restaurant.org or call (202) 331-5900
National Restaurant Association, 1200 17th Street, Washington, DC 20036