RSSCommunity Bank Small Business Lending Program Act
Bill 19-633, the “Community Bank Small Business Lending Program Act of 2011”
Councilmember Yvette M. Alexander, Chairperson of the Committee on Public Services and Consumer Affairs, announces a public hearing on Bill 19-633, the “Community Bank Small Business Lending Program Act of 2011”. The public hearing will be held at 11:00 a.m. on Wednesday, February 8, 2012 in Room 123 of the John A. Wilson Building.
The stated purpose of Bill 19-633 is to establish a law creating a Community Bank Small Business Lending Program; to require bank participants to make loans to small businesses in the District in an aggregate amount of at least 200% of incremental funds deposited into the bank after the commencement of the program; to restrict the definition of qualifying loans to small business loans no greater than $3 million or real estate loans no greater than $5 million; to require that qualified borrowers be bona fide District small businesses; and to institute reporting requirements for participating banks.
Those who wish to testify should register online or contact Mr. Ed Fisher, Committee Director, at (202) 741-2110 or via e-mail at efisher@dccouncil.us, and provide their name, address, telephone number, organizational affiliation and title (if any) by close of business Monday, February 6, 2012. Persons wishing to testify are encouraged, but not required, to submit 15 copies of written testimony. If submitted by the close of business on Monday, November 6th, the testimony will be distributed to Councilmembers before the hearing. Witnesses should limit their testimony to four minutes; less time will be allowed if there are a large number of witnesses.
If you are unable to testify at the hearing, written statements are encouraged and will be made a part of the official record. Copies of written statements should be submitted either to Mr. Fisher, or to Ms. Nyasha Smith, Secretary to the Council, Room 5 of the Wilson Building, 1350 Pennsylvania Avenue, N.W. Washington, D.C. 20004. The record will close at 5:30 p.m. on Wednesday, February 17th 2012.
