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Paul Kanjorski introduces legislation intended to help businesses and create jobs

08.13.09

August 2009 Scranton/Wilkes-Barre/Hazleton edition of The Union News

Paul Kanjorski introduces legislation intended to help businesses and create jobs

BY PAUL TUCKER
THEUNIONNEWSSWB@AOL.COM

REGION, August 2nd- Congressman Paul Kanjorski (Democrat, 11th District), introduced H.R. 3380, the promoting Lending to America’s Small Businesses Act, on July 30th.

The legislation would enable credit unions to make more small business loans and create jobs at a time when the country needs a financial boost. America’s credit unions could held fill the void of the commercial banks and entities that have pulled back their lending activities during the financial crisis. Currently, credit unions face statutory limitations and many of them have so far been forced to sit on the sidelines, Mr. Kanjorski stated.

“During this time of economic uncertainly, many businesses, especially small businesses, are facing extreme difficulties accessing credit in order to create and maintain jobs. H.R. 3380 aims to fix this problem by using credit unions as a resource to boost lending to small businesses. By permitting credit unions to expand their lending to small businesses, we can work to turn around our difficult financial situation at no cost to taxpayers,” said Mr. Kanjorski, which represents Scranton, Wilkes-Barre and Hazleton.

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