PARAMUS, N.J. – Greater Alliance FCU President/CEO Patrick McGrath welcomed small business leaders to the credit union this morning to meet with Congressman Scott Garrett (R). Throughout the meeting, Garrett learned about issues facing small business today.
Small business leaders in attendance expressed that they were concerned about access to credit as well as growing regulatory burdens.
Congressman Scott Garrett (NJ-5) (left) meets with small business leaders at a meeting held this morning at Greater Alliance FCU.
NJCUL President/CEO Paul Gentile spoke about how raising the member business lending cap would elevate the issues small businesses are facing in having access to credit.
"Congressman Garrett is well aware that raising the MBL cap would open up $13 billion in capital for small businesses and create more than 100,000 jobs. New Jersey's credit unions want to help small businesses like those in the room today grow their business. Raising the MBL cap will help do that," said Gentile.
Pictured from left to right: Greater Alliance FCU President/CEO Patrick McGrath, Congressman Garrett, and NJCUL President/CEO Paul Gentile.
Garrett provided some perspective on what's happening in DC with the budget proposals. He noted that the work being done on the Ryan Budget is geared at reducing the deficit, but unfortunately it will undoubtedly die in the Senate.
He reminded the group that the Senate hasn't approved a budget in three years.