“This legislation will provide critical support and resources to small businesses and encourage job creation.”

Columbus – Ohio Treasurer Kevin L. Boyce announced today he strongly supports U.S. Senator Sherrod Brown’s Small Business Emergency Loan Relief Act, S.1817.
 
The Treasurer expressed his support in a written letter to Brown, saying the legislation will provide critical support to small businesses and encourage job creation.
 
Brown's legislation temporarily raises the maximum loan amounts for the three main Small Business Administration (SBA) loan products: the 7(a) loan, the 504 loans, and the America's Recovery Capital (ARC) Loan Program.
 
If passed, the 7 (a) loan size would increase from $2 million to $5 million, the 504 loan size from $1.5 million to $4 million, and the ARC loan size from $35,000 to $50,000.
 
“At the Treasurer’s Office, we are always looking for ways to work strategically with businesses to help grow our economy,” Treasurer Boyce said. “ Measures to ensure that small businesses have access to the capital they need in order to grow and create jobs are welcome news to Ohioans.”
 
The mission of the Ohio Treasury is to protect and invest state funds while providing innovative financial education and resources, empowering Ohioans to make Smart Money Choices. 

To view letter in it's entirety, click here

MEDIA CONTACT:  Simone Wilkinson /614.644.4407