Logo: Independent Community Bankers of America - ICBA The Nation's Voice for Community Banks (R)
Username:
Password:

Graphic: Arrow Forgot password?
Graphic: Arrow Request Login
Contact ICBA Site Map Search ICBA
ArrowICBA Home
ArrowAbout ICBA
ArrowAbout Community Banking
ArrowAdvocacy
ArrowConsumer Education & Resources
ArrowEducation
ArrowConvention
ArrowIndustry Resources
ArrowMarketing Resources
ArrowMembership
ArrowPress Room
ArrowSocial Media
ArrowMain Street MarketĀ®
ArrowPublications





Members Only = Access Restricted
Last update: 04/23/14

ICBA News Release

ICBA Independent Community Bankers of America

Media Contact
Aleis Stokes
(202) 821-4457

Media Contact
Karen Tyson 
(202) 821-4454

FOR IMMEDIATE RELEASE

ICBA Lauds Senate Passage of Small Business Jobs Act

Urges Prompt House and Bank Regulator Action

Washington, D.C. (September 16, 2010)-Independent Community Bankers of America (ICBA) Chairman Jim MacPhee, CEO of Kalamazoo County State Bank in Schoolcraft, Mich., issued this statement today following Senate passage of the Small Business Jobs and Credit Act (H.R. 5297), which would establish a $30 billion Small Business Lending Fund (SBLF) for interested community banks to expand small business lending.  The legislation also includes beneficial Small Business Administration (SBA) program lending incentives and small business tax cuts.  Thousands of community banks have boosted their SBA small business lending using the higher SBA guaranty levels and reduced fees for borrowers. 

"ICBA thanks the Senate for passing this critical legislation. Our nation's sluggish economy needs help, and this is a pivotal step toward aiding Main Street America's economic recovery.  The SBLF and SBA incentives will help interested community banks enhance the flow of credit to Main Street's small business customers, who are the driving force behind local economic stability and growth.  The Tier 1 capital banks can receive through this legislation could be leveraged to provide as much as $300 billion of new credit to small businesses.

"Key provisions of the act include:

  • $30 billion capital lending fund for interested community banks to support greater small business lending.
  • Higher SBA loan guaranty levels, larger loan size limits and reduced borrower fees.
  • Shorter S Corporation holding period to mitigate the built-in-gains tax.
  • Increased small business immediate expensing up to $500,000 over two years and 50 percent bonus depreciation.
  • Enhanced small business export promotion and SBA trade financing incentives.

"ICBA appreciates the unwavering support of Senate Small Business Committee Chairman Mary Landrieu (D-La.), Sen. George LeMieux (R-Fla.) and Sen. George Voinovich (R-Ohio) on this vital issue and urges prompt House passage of the Senate-passed bill."

For more information, visit http://www.icba.org/.






ArrowsPrintable version



Button: Share

All contents copyright 2014 Independent Community Bankers of America. All rights reserved.
Privacy Statement | Legal Notice