A congressional committee will hear testimony in the Detroit area on how a lack of available lending for small businesses is impeding economic recovery efforts
Monday, November 30, 2009 at 8:14 a.m.
Read more: State, Economy, Banking, Congress, Committee, Business, Economic Recovery
SOUTHFIELD (AP) -- A congressional committee will hear testimony in the Detroit area on how a lack of available lending for small businesses is impeding economic recovery efforts.
Democratic U.S. Rep. Gary Peters says the House Financial Services Subcommittee on Oversight and Investigations will hear testimony Monday at Lawrence Technological University in Southfield, just north of Detroit.
Witness lists include representatives from the Detroit Regional Chamber of Commerce, Automation Alley, the Michigan Economic Development Corp., and the American Bankers Association.
Peters, of Oakland County's Bloomfield Township, says small banks still are struggling to raise capital.
The hearing is open to the public.
(Copyright ©2009 by The Associated Press. All Rights Reserved.)
