News From Congresswoman
Nydia M. Velázquez
Representing New York's 12th Congressional District - Brooklyn, Manhattan, Queens
Ranking Democratic Member, House Small Business Committee

For Immediate Release
February 10, 2004

Contact: Wendy Belzer, Kate Davis (202) 225-2361

SBA Funding Shortfall Sends Small
Businesses Scrambling
Impacted Small Business Borrowers, Trade Association to Speak

WASHINGTON - The National Association of Government Guaranteed Lenders (NAGGL) will join small businesses from around the country to speak out against the funding shortfall in the Small Business Administration's (SBA) most important loan program, which is forcing small companies to scale back operations, lay off workers, or shut down entirely.

The SBA's 7(a) loan program is a vehicle for entrepreneurial development and economic growth in the U.S., yet the Bush administration has consistently failed to fully fund it, forcing a shutdown in late 2003, followed by restrictive practices on available financing in 2004. This problem will also be discussed in a Wednesday afternoon House Small Business Committee hearing (2 p.m., 2361 Rayburn House Office Building), where small businesses will testify and demand a solution.
Small business borrowers, NAGGL President & CEO Anthony R. Wilkinson, and other industry representatives will be available to speak with the press in person and via telephone following their comments Wednesday morning.

When and Where:

When: Wednesday, February 11, 2004 at 9:30 a.m.

Where: The Capitol, HC6

Who:
" Anthony R. Wilkinson, President & CEO, National Association of Government Guaranteed
Lenders, Inc., Stillwater, OK
" David Pilcher, Chief Financial Officer, Ted R. Sanders Moving Company, Nashville, TN
" Phil Pegg, Chief Operating Officer/Senior Vice President and Robert Culver, President & CEO,
4-D Solutions, Boyertown, PA
" John Sprague, Managing Partner, Everglades Adventures RV and Sailing Resort, Pahokee, FL
and JP Sasser, Mayor, Pahokee, FL
" Elliot Moses, Chief Executive Officer, Daco Enterprises, Inc., Sandy, UT

To arrange an interview with any of these speakers or other industry representatives, please contact Beth Davidson at 212-981-5263.

###