For Immediate Release: Tuesday, August 17, 2010
Contact: Joshua Welter,
OBAMA, MURRAY, LOCKE MEET WITH
Reinvigorating small business lending from community banks will help small businesses grow, create jobs, and build economy
SEATTLE, WA—On Tuesday, President Barack Obama, Senator Patty Murray, and Secretary of Commerce Gary Locke met with three Washington state small business owners at a roundtable discussion in Seattle about the importance of reinvigorating small business lending to allow small businesses to grow, create jobs, and build the economy.
Joe Fugere is the founder of Tutta Bella Neapolitan Pizzeria in
“I was deeply offended,” said Fugere. “I had a healthy, profitable business and a blemish-free history of making every loan payment, in full and on time. And now, I was being called ‘risky’ by the big banks, when in fact it was their risky decisions on Wall Street that caused the economy to collapse in the first place.”
Having been rejected by larger banks, Joe approached a community bank and within a few weeks the loan was approved. In mid-2009 Tutta Bella’s fourth location opened and currently employs 50 people. Recently, an SBA loan under the Recovery Act has helped him improve the company’s cash flow. Joe is proof that community banks can be the engine for getting much needed loans to small businesses, so small businesses can grow, create jobs, and build the economy.
Tiffany Turner and her husband, Brady, opened the Inn at
“Small businesses can be the engine of job growth that gets us out of the recession, but to do it we need to keep up efforts to reinvigorate small business lending from community banks,” said Turner.
Small business owners said they support efforts by President Obama and Senator Murray to create a $30 billion small business lending fund to help local community banks get the capital they need to lend money to small businesses.
The Main Street Alliance of Washington provides small businesses a voice on the most pressing public policy issues of our time. Our advocacy promotes vibrant businesses and healthy communities, and fosters leadership development of socially responsible business leaders. www.mainstreetalliance.org/washington
Tutta Bella Public Relations Contact:
Allan Aquila (206) 948-1997 firstname.lastname@example.org
Norma Rosenthal (206) 331-7901 email@example.com