§ 4741. Findings and purposes
(a)
Findings
The Congress finds that—
(1)
small business concerns are a vital part of the economy, accounting for the majority of new jobs, new products, and new services created in the United States;
(2)
adequate access to debt capital is a critical component for small business development, productivity, expansion, and success in the United States;
(3)
commercial banks are the most important suppliers of debt capital to small business concerns in the United States;
(4)
commercial banks and other depository institutions have various incentives to minimize their risk in financing small business concerns;
(5)
as a result of such incentives, many small business concerns with economically sound financing needs are unable to obtain access to needed debt capital;
(6)
the small business capital access programs implemented by certain States are a flexible and efficient tool to assist financial institutions in providing access to needed debt capital for many small business concerns in a manner consistent with safety and soundness regulations;
(b)
Purposes
By encouraging States to implement administratively efficient capital access programs that encourage commercial banks and other depository institutions to provide access to debt capital for a broad portfolio of small business concerns, and thereby promote a more efficient and effective debt market, the purposes of this subchapter are—