“NFIB appreciates the president’s commitment to addressing the credit problem facing small businesses, but lending is only one of the many problems impacting small businesses. Access to capital has become more difficult for small firms looking for credit. Focusing this new lending program on community banks is the right course of action. While NFIB members would prefer to see Washington end the TARP program and apply that money to deficit reduction, any capital provided to the community banks must be free of the many strings attached to TARP money.

 

“While the program announced today is a step in the right direction, it’s important to remember that access to credit is not the largest problem keeping small businesses from hiring. The number one problem facing small business is lack of sales. Until consumers resume spending, small business owners will remain reluctant to start hiring. And until small businesses are confident that Washington will not increase the cost of doing business through hiring taxes, healthcare mandates and increased energy costs, small business owners will continue to stay on the sidelines when it comes to hiring and expanding their businesses.”