IFA President Stephen A. Caldeira has co-authored an editorial for the website Politico making the case to Congress for enhancing SBA funding as a form of economic stimulus.
Caldeira's column was co-signed by Steve Bartlett, president and chief executive officer of the Financial Services Roundtable, Richard Hunt, president of the Consumer Bankers Association and Tony Wilkinson is president and chief executive officer of the National Association of Government Guaranteed Lenders. It is an impassioned plea by the quartet to get small businesses lending moving via a more muscular form of SBA funding.
"Clearly, the time is now for solutions to help boost lending to small businesses — especially given the direct correlation between small-business lending and job creation. U.S. franchises and financial services companies are working together to increase job creation," they write.
The article makes the case that while franchising and small businesses can stimulate the American economy, the industry has stalled since 2008 and needs a more innovative form of government assistance in order to flourish again.
"Small businesses have historically led job creation during economic recoveries and are likely to play a leading role in helping our country through the still challenging economic climate. But we need Washington’s help to strengthen lending programs, remove obstacles and help small businesses renew the economy — one job at a time."