Wilson legislation would aid banks, small businesses

U.S. Rep. Charlie Wilson said legislation he’ll introduce Tuesday would make it easier to obtain loans to expand and start small businesses.

The proposal, announced today, would give banks loaning money to small businesses a 1-percent tax credit of the amount of the loan, said Wilson of St. Clairsville, D-6th. The banks would receive the incentive for 20 small-business loans a year. Each loan could be for as much as $500,000.

“We need small businesses to keep creating new jobs,” Wilson said. “But in order for small firms to play their job-creation role, they need the right tools. Without access to capital, small businesses have a tough time keeping their doors open and their employees working.”

For the complete story, read Tuesday’s Vindicator and Vindy.com