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Congresswoman Yvette D. Clarke Applauds New Small Business Revolving Loan Fund

Today, Congresswoman Yvette D. Clarke released the following statement regarding Governor Paterson announcing New York’s new Small Business Revolving Loan Fund.

“I applaud Governor Paterson in his announcement of the Small Business Revolving Loan Fund. Small businesses statewide will now have access to $50 million in loans. As a member of the House Small Business Committee, I recognize that small businesses are essential to economic recovery and job creation. This fund will empower small businesses to reinvest in themselves and expand their payroll,” said Rep. Clarke.

“Since the recession began, small businesses have been struggling to find the capital necessary for everything from maintaining their staff and to keeping the lights on,” added Rep. Clarke. “Now, these firms have the opportunity to stay open and expand. The fund will also provide additional funding to minority and women-owned enterprises.”

“As Governor Paterson’s term comes to a close, I urge Governor-elect Andrew Cuomo to continue to support the Small Business Revolving Loan Fund. I also encourage him to recognize the importance of small businesses to our economy and the role they will play in the recovery,” concluded Congresswoman Clarke.

For more information on the State’s Small Business Division and its programs, please visit: