FOR IMMEDIATE RELEASE

Contact:

Matthew Haller, 202-662-0770
Jenna Weisbord, 202-662-0766
mhaller@franchise.org
jweisbord@franchise.org

@franchising411

IFA APPLAUDS HOUSE FOR AUTHORIZING ADDITIONAL SBA FUNDS

WASHINGTON, July 27, 2015—International Franchise Association, the world’s largest organization representing franchise owners, applauded the House of Representatives for approving a bipartisan measure that would lift the cap on the Small Business Administration’s (SBA) 7(a) loan program to $23.5 billion, which would enable SBA to continue approving much needed loans to business owners. The House vote follows the Senate’s approval of the same increase last week.

“We are extremely pleased policymakers on both sides of the political aisle recognized the importance of the 7(a) loan program, which provides critical funding to small businesses, including franchise small businesses,” said IFA President & CEO Steve Caldeira, CFE. “For every $1 million in lending to a franchise, 40 new direct and indirect jobs are created – a sizable return on investment. Ensuring these existing and prospective small businesses continue to have access to capital is crucial to job creation and small business ownership opportunities.”

Last week, the IFA sent a letter to Members of the House of Representatives’ Committee on Appropriations, urging them to increase the Fiscal Year 2015 lending authority for the Small Business Administration’s 7(a) loan guarantee program.

“The franchise industry creates opportunities, not just for thousands of business entrepreneurs around the country, but also for the communities their businesses impact and we look forward to working with Congress to make sure a supplemental increase to avoid shutdown of the program and credit access and lending remain strong,” added Caldeira.

###

About the International Franchise Association

Celebrating 55 years of excellence, education and advocacy, the International Franchise Association is the world’s oldest and largest organization representing franchising worldwide. IFA works through its government relations and public policy, media relations and educational programs to protect, enhance and promote franchising and the more than 780,000 franchise establishments that support nearly 8.9 million direct jobs, $890 billion of economic output for the U.S. economy and 3 percent of the Gross Domestic Product (GDP). IFA members include franchise companies in over 300 different business format categories, individual franchisees and companies that support the industry in marketing, law, technology and business development.

1900 K St., N.W., Suite 700   Washington, DC 20006  USA

Phone: +1 202/628-8000    Fax: +1 202/628-0812     www.franchise.org

 

Search