Sign This Open Letter

Sign This Open Letter to Senators Kay Bailey Hutchison
and John Cornyn and Help Get Capital Flowing!

Small businesses in Texas need access to capital – now more than ever. That’s why the Texas Association of Business is getting behind an effort to open up $10 billion in potential lending for small businesses at credit unions – $575 million in our state alone.

Won’t you add your name to this open letter to both of our Texas Senators? We need them to hear from us loud and clear. It’s time to increase access to capital for Texas business – and get the government out of the way of recovery!


Dear Senators Hutchison and Cornyn:

Small Businesses Need Your Help!

Credit for many businesses, especially small businesses, has plummeted. Many traditional lending institutions have curtailed credit lines – or cut them completely, rejecting loans they would have easily approved in the past. The situation is dire for some of our smallest employers. It hurts our economy and jobs in Texas.

We urge your support for one ready-made solution – S. 2919 and HR 3380. This bipartisan legislation would allow credit unions to do more to help their members obtain access to needed capital through member business loans. These are healthy institutions with money to lend, but an artificial cap put in place 12 years ago is restricting access to this capital. The current cap is 12.25%; reform would raise the cap to 25%.

This will not cost taxpayers one single dime! In the first year after enactment this legislation could create more than 108,000 new U.S. jobs (more than 6,000 in Texas alone) and pump more than $575 million directly into the Texas economy. Common sense demands this type of free-market solution to our problems.

The federal government should be doing everything to make it easier, not harder, for small employers to get access to capital. Small businesses across Texas are counting on you to support this critical legislation.

Please support S. 2919 when it comes to the Senate floor.

Respectfully,

Name of Company:
Name of Company Owner:
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Address:
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