April 6, 2009

Senator Daniel Inouye (HI), Chairman of the Senate Appropriations Committee, and U.S. Conference of Mayors President Miami Mayor Manny Diaz discussed federal and local aid for small businesses during a press conference March 23 at Jungle Island.

Diaz and Inouye discussed how President Obama’s recently announced plan to save small businesses through higher loan guarantees, reduced fees and overall expansion of access to capital will help businesses in Miami.

“Small businesses are the foundation of our economy, having created approximately 70 percent of all new jobs in the past decade,” said Diaz. “Mayors all over the country have watched as small businesses in their communities shut their doors due to lack of access to capital and through no fault of their own. President Obama’s plan to unlock credit for small businesses will save businesses, allow them to grow, and save and create thousands of jobs.”

“I am thankful to Senator Inouye for his support to small businesses,” added Diaz. “As Chairman of the Senate Appropriations Committee, Senator Inouye has been at the head of the table drafting and negotiating all of our economic recovery plans, including the stimulus bill.”

Diaz also highlighted programs available within Miami to assist small businesses, such as the Minority Business Enterprise Center (MBEC™), Small Business Loans and micro'loan programs, and technical support.

Diaz and Inouye also participated in the Greater Miami Chamber of Commerce’s Small Business Summit being held at the same location immediately after the press conference.