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Senate of Pennsylvania
Session of 2013 - 2014 Regular Session


Posted: January 11, 2013 02:21 PM
From: Senator James R. Brewster
To: All Senate members
Subject: Small business loan program (PA Works)
In the near future, I plan to reintroduce SB 684 of 2011. The Small Business loan program is a popular and successful Department of Community and Economic Development (DCED) loan program.

This legislation, part of the PA Works package, would increase the maximum loan amounts and repayment periods through the Small Business First Fund (SBF Fund), decrease maximum interest rates for all SBF loans and increase the maximum loan amount and repayment periods for all loans issued through the Small Business First program.

Pennsylvania’s economic recovery remains fragile and it is critical to pursue policies that stimulate the economy, moves business forward and creates jobs.

This legislation is one part of a legislative package call PA Works that is designed to create 28,000 new jobs, leverage more than $2 billion in new private investment and save $150 million.

Thank you for your consideration.

Previous co-sponsors included Senators Blake, Fontana, Solobay, Tartaglione, Costa, Waugh, Boscola, Yudichak, Stack, Hughes, Wozniak, Washington, Farnese, Kasunic, Kitchen, Dinniman, Williams, and Browne.

Introduced as SB217