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CONGRESSWOMAN SHEILA JACKSON LEE AMENDS SMALL BUSINESS LENDING ACT TO PROVIDE LENDING TO COMMUNITIES AFFECTED BY GULF OIL SPILL

Washington, DC: Congresswoman Sheila Jackson Lee of Houston, Texas, a senior Member of the House Judiciary Committee and Chairwoman of the Transportation Security and Infrastructure Protection Subcommittee of the Homeland Security Committee, announces the approval of her amendment for House debate on the Small Business Lending Fund Act of 2010, H.R. 5297. The Amendment would provide funding to eligible financial institutions that serve small business in communities that have suffered negative economic effects as a result of the Deepwater Horizon oil spill with particular consideration to States along the coast of the Gulf of Mexico.

The House will consider the Small Business Lending Fund Act today. Congresswoman Jackson Lee said, “the bill will provide much needed assistance to small businesses that have been denied credit or had their lines of credit restricted because of the liquidity crisis in the financial markets.” Under the Jackson Lee Amendment, sponsored by Representative Anh “Joseph” Cao (LA-2), businesses suffering from the effects of the oil spill in the Gulf would be the beneficiaries of targeted lending efforts by financial institutions participating in the Fund.

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