The House Banking Committee took testimony today on creation of a microenterprise fund. Several entrepreneurs and small businesses spoke about the need for loans to the small businesses as the drivers of the new economy. Reps. John Switalski and Gary McDowell sponsored this legislation (HB 6051 and 6052) and indicated the need for these entrepreneurs to have financing.
Comments continually referenced that banks are not lending to these efforts. The League, as part of our prosperity agenda, believes that better communities lead to a better Michigan and that talented workers want to create small businesses and be entrepreneurial. This fund could be an important part in creating these entrepreneurial businesses and building communities to attract residents and jobs and revitalize Michigan. The bills passed out of committee unanimously and were reported to the House floor. The League will continue to monitor this important legislation.
Andy Schor is the Assistant Director of State Affairs for the Michigan Municipal League. Contact him at (517) 908-0300 or by email.
56a33103-6f44-4423-a538-4cc31e6d7f14|1|5.0
