Gov. Jennifer Granholm was at the White House earlier this week as President Obama signed into law a bill to extend $30 billion in loans to small businesses. There’s a good reason for that: Michigan is eligible for up to $78 million in funding from that bill, which should help to spur small business formation and health in the state.
Governor Granholm stated on C-Span that there is a wait list of bankers in Michigan ready to take advantage of providing loans to small businesses.
Hundreds of jobs are expected to come out of this new bill. This means more jobs for Michigan residents to come. Patience is definitely the key in our sluggish economy. Small businesses will be able to hire one and two employees to help pick up the economy.
Governor Granholm is grateful to the Michigan members of Congress who supported this legislation, especially Congressmen Peters, Levin and Dingell for introducing the State Small Business Credit Initiative in the House, and to Senator Stabenow and Levin for insuring that it was included in the Senate Bill.
Every little bit helps.