TRENTON – Legislation sponsored by Senate President Steve Sweeney (D-Gloucester, Cumberland, Salem) that would provide incentives for banks to give loans to minority owned and small businesses cleared the Senate Budget and Appropriations Committee today.
“Our small businesses want to expand and hire individuals, but they simply do not have the capital to do so,” said Sweeney. “This program is a great way to give banks an incentive to extend loans to our small businesses at affordable rates. By providing these low cost loans, we can give small businesses the means to provide jobs for our fellow New Jerseyans.”