Hoyer Applauds $394 Million Increase in Small Business Lending by Maryland Participants in the Small Business Lending Fund

WASHINGTON, DC – Congressman Steny H. Hoyer (MD-5) released the following statement today after the U.S. Department of the Treasury released a new report showing that Maryland community banks receiving capital through the Small Business Lending Fund (SBLF) have increased their small business lending by $394 million:

"Today's report by the Treasury Department shows the Small Business Lending Fund is helping to significantly improve access to capital for Maryland small businesses. Established through Make It In America legislation, the SBLF has allowed Maryland banks to increase lending by an additional $394 billion. In doing so, it has increased opportunities for our businesses to grow, expand, create jobs, and make it in America.

"Congress ought to do more to support job creation in Maryland and across the country, and I encourage my colleagues to take up additional Make It In America legislation so more businesses can grow and thrive."

The Small Business Lending Fund was established through the Small Business Jobs Act, one of ten Make It In America bills that have been signed into law. The law expanded much needed lending to small businesses and offers tax incentives to help small businesses grow, hire, and fuel our economy, without adding to the deficit. Click here for more information on the Make It In America plan.