04.20.15

Peters Addresses Livonia and Greater Farmington Area Chambers of Commerce Breakfast

LIVONIA, MI – U.S. Senator Gary Peters (MI) today addressed a breakfast hosted by the Livonia Chamber of Commerce and Greater Farmington Area Chamber of Commerce, where he highlighted his top priorities in the U.S. Senate, including supporting small businesses and job creation, and heard from business leaders about issues most concerning them.

“Our small businesses lead the way in innovation and entrepreneurship, hire locally and contribute to our communities across Michigan,” said Senator Peters. “Small businesses like the ones represented here from Livonia, Farmington, and Farmington Hills are some of Michigan’s top job creators, and that’s why I am working in Washington to ensure they have access to the capital they need to compete, succeed and even grow their small businesses into large companies.”

As a member of the Senate Small Business and Entrepreneurship Committee, Peters last week introduced the Small Business Lending Reauthorization Act of 2015, a bipartisan bill that will ensure Michigan’s small businesses are receiving the loans and credit they need from the 7(a) loan program, the Small Business Administration (SBA)’s main lending program. Last year, this program loaned more than $1.2 billion to 2,145 small businesses in Michigan.

“I’m proud to be working on commonsense, bipartisan policies that help jumpstart our economy and restore opportunities for our small businesses, startups and entrepreneurs,” added Senator Peters. “My top priority will continue to be focusing on measures that will help create good-paying jobs, support small businesses and strengthen our middle class.”

In the U.S. House of Representatives, Peters championed the State Small Business Credit Initiative (SSBCI), which started in 2010. Many small businesses were struggling to have the resources needed to stay afloat after the recession, and the program leverages significant private capital with targeted federal investments. SSBCI has since supported nearly 100,000 jobs, including 4,000 jobs in Michigan. Over 500 loans have been made here in Michigan and have leveraged more than $430 million in private capital.

The Livonia Chamber of Commerce, established in 1950, has the largest membership of any single-community chamber of commerce in Michigan, with membership growing nearly 5% in the last two years. The Greater Farmington Area Chamber of Commerce includes Farmington Hills, one of the largest communities in Oakland County, and is home to major global businesses.

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