Hispanic Business Community Applauds the Passage of the Senate Small Business Jobs Bill

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United States Hispanic Chamber of Commerce

Sep 20, 2010, 03:26 ET

WASHINGTON, Sept. 20 /PRNewswire-USNewswire/ -- The United States Hispanic Chamber of Commerce (USHCC), which represents the interests of nearly 3 million Hispanic-owned businesses and over 200 local Hispanic chambers of commerce nationwide, applauds the Senate for passing the Small Business Jobs bill this week – a piece of legislation that is certain to help Hispanic small businesses across our country.

Among other notable provisions in the bill, included is the Small Business Lending Fund Act – a necessary step that will serve to open the channels to lending to Hispanic small businesses in our communities.

Javier Palomarez, USHCC President & CEO said – "By providing up to $30 billion in capital to small banks, this funding will go directly to the community banks that service our businesses. The small businesses that we represent are a vital source of job creation and economic stimulus that historically have been overlooked by the federal government and lenders. Our business owners have been disproportionally affected by the financial crisis through no fault of their own and have relied on small and community banks as their life lines during these times of peril."

Although there is plenty of work left to be done by both the public and private sector to help small businesses across our country, the USHCC thanks the Senate for their leadership in addressing the needs of Hispanic business owners across our country.

About the United States Hispanic Chamber of Commerce

Founded in 1979, the USHCC actively promotes the economic growth and development of Hispanic entrepreneurs and represents the interests of nearly 3 million Hispanic-owned businesses in the United States that generate nearly $400 billion annually. It also serves as the umbrella organization for more than 200 local Hispanic chambers in the United States and Puerto Rico.

http://www.ushcc.com

SOURCE United States Hispanic Chamber of Commerce