MEDC CEO Greg Main: Obama must address lack of small business lending
The pace of Michigan’s economic diversification is threatened by the lingering effects of the financial crisis as community banks fail to deliver adequate lending to the state’s small businesses.
That’s why Michigan Economic Development Corp. CEO Greg Main hopes to hear President Barack Obama on Saturday discuss the importance of revitalizing the small business lending market.
Michigan Economic Development Corp. CEO Greg Main
I caught up briefly Thursday night with Main at the Michigan Celebrates Small Business event, where several Ann Arbor companies were honored. I asked him what he hopes to hear from Obama during his commencement address Saturday morning at the University of Michigan.
Here’s what he had to say:
“I would like to hear him talk about the need to get legislation in the House and Senate passed that will increase the amount of capital available through community banks and so forth. One of our challenges right now - particularly in the supplier community, which is still struggling to find financing - is we know how to do it mechanically, but we don’t have the capital to do it. So I think it’s imperative that bills that are being considered in the House and the Senate move to his desk so we can get this economy running."
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Comments
jcj
Fri, Apr 30, 2010 : 8:03 a.m.
I am anything but an Obama groupie. And I would like to see loans to small businesses free up some. However for Greg Main to want Obama to speak to this issue on Saturday is not what is needed. This is the time to speak to and about the graduates! I will be surprised if the President does not take the opportunity to spread more political propaganda but I hope he does not. And if he does start touting what he has "accomplished" in office I hope the grads finally see he is on an ego trip like no other President we have had!
xmo
Fri, Apr 30, 2010 : 7:49 a.m.
How can he talk about small business? He does not know what it is? He ony knows how to get people to protest.
Sandy Castle
Fri, Apr 30, 2010 : 7:47 a.m.
Hopefully, he will talk about grads and their futures, the important part education plays for our future, and for the recovery of our economic woes. He doesn't need to go into politics because he represents his party without any political speech. However, I would expect that he might highlight changes he's made, and is working to make, that he feels will benefit our graduates.
walker101
Fri, Apr 30, 2010 : 7:08 a.m.
This is a continuing CAMPAIGN for his party and himself, why else we he be in town for, he's been campaigning since he's been in office.
The Picker
Fri, Apr 30, 2010 : 6:21 a.m.
X You don't think Obama will make this event about politics? The man is in perpetual campaign mode! He can't help it!
racerx
Fri, Apr 30, 2010 : 2:24 a.m.
Is Mann expecting the President to talk about small business lendind at a graduation excerise? WTF? This is a celebration for the graduates, not, or should not, be political at all. As with consumer lending being very tight maybe Mann can use his influence and send a letter to BofA, Goldman Sachs, or any other bank that might have taken a government bailout but finding it "difficult" to start lending again.