East County News Service
October 9, 2010 (Washington, DC) – Just over a week after the President signed the Small Business Jobs and Credit Act, HR 5297, close to 2,000 small businesses have been approved for SBA-backed loans. Nearly $1 billion total will soon go to these small businesses. Locally, at least three business owners have already been approved since the new law went into effect.
Apon Industries Corporation of San Diego, Hector Romero and Leonor Rom of Chula Vista and Timothy Lewis and Mary Jane also of Chula Vista will be receiving a combined total of more than $4 million in SBA-backed loans.
“I’m glad the administration worked quickly to get money in the hands of the business owners that need it to expand and hire new employees,” said Congressman Bob Filner (D-San Diego). In Rep. Filner held a banking forum to bring together the big and small banks, small businesses, housing advocates and government agencies for an economic roundtable to address job creation, small business expansion and increased bank lending opportunities.
“The one thing I heard from every group at the Banking Forum I held earlier this year was that small businesses need more access to capital,” said Congressman Filner. “With this legislation, we have already begun to meet that demand for capital.”
San Diego's Republican Congressional representatives, Duncan D. Hunter (Alpine), Brian Bilbray (San Diego) and Darrell Issa (Escondido) voted against the Small Business Jobs Act. Democrat Susan Davis of San Diego joined Filner in voting for the measure.