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PATRICIA SAIKI, ADMINISTRATOR OF THE U.S. SMALL BUSINESS ADMINISTRATION ISSUES STATEMENT FROM WASHINGTON, D.C.

PATRICIA SAIKI, ADMINISTRATOR OF THE U.S. SMALL BUSINESS ADMINISTRATION
 ISSUES STATEMENT FROM WASHINGTON, D.C.
 BOSTON, March 13 /PRNewswire/ -- The following is a statement issued today by Patricia Saiki, administrator of the U.S. Small Business Administration:
 "Newspaper reports that the New England Lending and Recovery project has been slowed down are totally inaccurate. There has been no slow down in the program. As I have stated many, many times, the SBA will be in the remaining New England states by the end of March. Ultimately, the project could be affected if Congress does not support a Bush administration request for additional funding.
 "I wish that the Congressional critics of this program would do more to be supportive of small business. The program is working -- jobs are being saved and businesses are being rescued from bankruptcy.
 "We need support for the President's request for additional loan authorization, not continual political carping."
 Latest figures in New Hampshire show that since Jan. 6, the SBA has initially committed to restructure 1,239 loans worth $156.5 million.
 Since Feb. 18, in less than four weeks, the SBA has initially committed to restructure 373 loans worth $62 million to small businesses in Maine.
 In Massachusetts, the SBA has since Feb. 26 -- in less than three weeks -- made initial commitments to restructure loans worth $44.8 million to 286 small firms.
 -0- 3/13/92
 /CONTACT: Dan Eramian of the SBA, 202-205-6742; or Raymond Arruda, 617-451-2032/ CO: U.S. Small Business Administration ST: Massachusetts, Washington, D.C. IN: SU:


TM-EG -- NE004 -- 7877 03/13/92 14:40 EST
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Publication:PR Newswire
Date:Mar 13, 1992
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