Industry Headlines

Parts Suppliers Praise Senate for Passing Small Business Lending Bill

WASHINGTON, D.C.-The Motor & Equipment Manufacturers Association (MEMA), together with its affiliate associations AASA, HDMA and OESA, praised the Senate for its passage of the Small Business Jobs and Credit Act (H.R. 5297) which establishes a Small Business Lending Fund to assist banks in increasing small business capital investment lending.

The legislation also creates a State Small Business Credit Initiative that allocates federal funds for states to partner with financial institutions by directly addressing the cash flow and collateral challenges facing small manufacturers. A similar bill passed the House in June.

“Over the last 18 months, we have worked to create a state-based small business program that will provide our members with opportunities to access the traditional financial markets. This is particularly important to help small manufacturers obtain funding for retooling and diversification,” said Neil De Koker, president and CEO, OESA. “The bill, particularly the Small Business Credit Initiative program, will help achieve those goals.”

“For this country to succeed, we need a strong domestic vehicle manufacturing industry capable of meeting consumer demands of safer and more fuel efficient vehicles,” said Bob McKenna, president and CEO, MEMA. “This bill will help ensure a stable supply base capable of meeting those objectives. We are very grateful the Senate recognized this and took action.”

Did you enjoy this article? Click here to subscribe to Quality Magazine. 

You must login or register in order to post a comment.

Multimedia

Videos

Podcasts

Karen Spencer, Clinkenbeard's quality manager, discusses what makes the plant stand out, advice for other plants, and looks to the future.
More Podcasts

Quality Magazine

CoverImage

2015 March

The March 2015 edition of Quality Magazine includes this years Quality's 2015 Plant of the Year.

Table Of Contents Subscribe

Topics to Talk About

What topics would you like to see Quality cover more?
View Results Poll Archive

Clear Seas Research

qcast_ClearSeas_logo.gifWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

STAY CONNECTED

Facebook2015_40 twitter_40px.png  youtube_40px.pnglinkedin_40px.png  GooglePlus_40

eNewsletters