New Hampshire Sen. Jeanne Shaheen says the latest White House plan to make it easier for small businesses to borrow money is critical to her home state.
Ninety-four percent of the state’s companies have fewer than 100 employees and about half of state’s work force is employed in a small business.
President Barack Obama’s plan includes up to $15 billion to make credit available to small businesses. It will also reduce lending fees, increase loan guarantees and ease the tax burden.
Shaheen was at the White House on Monday as Obama made the announcement. Last week, she had urged Obama to speed up plans to make credit more available and less expensive to small businesses.