By Rick Pluta, Michigan Public Radio Network
http://stream.publicbroadcasting.net/production/mp3/wkar/local-wkar-926077.mp3
LANSING, MI –
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Governor Granholm was at the White House Monday to watch President Obama sign a law to help small businesses. As we hear from Michigan Public Radio's Rick Pluta, the governor was particularly interested in a provision to help manufactures get expansion loans.
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At the White House ceremony, President Obama said the measure will help spur the recovery that so far has just sputtered along.
"It's going to cut taxes and make loans available for small businesses," he said. "It's a great victory for America's entrepreneurs."
Making credit more available was a goal of Governor Granholm. She lobbied for assistance to allow Michigan to expand its program that helps auto suppliers retool and move into new lines of work. Community banks will have more access to capital for business lending, and the state will put in some money to buy down the risk for lenders.
"So this allows Michigan and other states to really give these small businesses the opportunity to grow," she remarked.
The governor says access to hundreds of millions of dollars in loans will also mean creating or saving thousands of jobs in the state.
reWorking Michigan
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