Posts Tagged ‘SB 1017’

SB 1017 will allow greater access to two business development funds

Senate Democrats fulfilled a key commitment on their February 2010 Agenda this afternoon by passing legislation that allows greater access to business development funds. Senate Bill 1017, called the Access to Business Capital Act (ABC Act) gives small businesses better access to the capital they need through the Oregon Business Development Fund and the Oregon Entrepreneurial Development Loan Fund.

Senator Suzanne Bonamici (D-NW Portland/Washington Co.) and Representative Margaret Doherty (D-Tigard) worked together on the legislation, which is a key part of both the House and Senate Democrats’ agendas for the February session.

“The ABC Act helps community businesses by making it easier for them to access small business loan programs,” said Bonamici. “This bill will provide additional flexibility to get money out the door more quickly to companies that need help.” Read the rest of this entry »

“Nothing is more important to Senate Democrats this session than making sure that we’re creating jobs for Oregonians. However, there is no such thing as a magic wand that will instantly erase unemployment and make the challenges Oregon’s families face disappear.”

“Instead, we have to continue working toward recovery. We will do that by making sure those struggling most don’t fall through the cracks and using whatever legislative resources available to get Oregonians back to work.”

“Senate Bill 1017 will help small businesses on Main Streets across Oregon access capital to grow and create jobs. At the same time, we will continue to monitor the job creation programs passed last session to make sure they’re putting people back to work and using resources efficiently.”

“Our priorities are reflected by the first bill we moved through the Senate, giving immediate help to Oregonians who are struggling most. Over 18,000 Oregonians will be able to feed their families and pay rent because of the unemployment insurance extension we passed last week.”

Bills extend unemployment benefits and increase small businesses’ access to capital

Two bills that are a major part of the Senate Democrats’ February jobs agenda moved out a Senate committee today. Two bills, one extending unemployment insurance benefits and one making it easier for small businesses to access capital, were voted out of the Senate Commerce and Workforce Development Committee by a unanimous vote.

“These bills are perfect examples of our commitment to getting Oregonians back to work and supporting small businesses this session,” said Senator Diane Rosenbaum (D-Portland), chair of the Committee.

Senate Bill 990 uses $19 million in the unemployment trust fund to give Oregonians a six week extension in much-needed benefits. The funds are available after a 2009 extension was supplemented by federal stimulus dollars, leaving a remaining balance for a new extension. SB 990 will be voted on by the full Senate within the week.

“Oregonians need to be able to feed their families while they continue to look for work,” said Rosenbaum. “This six week extension will help over 18,000 workers who have already exhausted their Federal benefits.”

Senate Bill 1017 was also voted out of committee today. That bill gives small businesses better access to the capital they need through the Oregon Entrepreneurial Development Loan Fund and the Oregon Business Development Fund.

“This bill will help small businesses in rural and urban areas across the state and it will further the entrepreneurial spirit that is so important to Oregon,” said Senator Suzanne Bonamici (D-Washington Co./Portland), the bill’s chief sponsor.