AWI e-briefs - 07/15/2010 (Plain Text Version)

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$30 Billion Small Business Lending Fund Includes Construction Loans

Relief may be in sight for small businesses seeking loans. The House of Representatives passed H.R. 5297, the Small Business Lending Fund Act of 2010, which includes an amendment giving builders the same access as other small businesses to loans from a $30 billion program the legislation creates.

The National Association of Home Builders supported the amendment and lobbied aggressively for its inclusion just before the measure passed the House on a vote of 418 to three. The NAHB said the legislation doesn’t resolve the credit crunch, but is a step forward to end the construction lending crisis.

The Senate has not yet addressed the measure. To view H.R. 5297 click here and enter the bill number in the "Search" box.  [Return to top]