The National Tooling and Machining Association (NTMA) and the Precision Metalforming Association (PMA) issued the following statement in connection with the hearing and mark-up of legislation in U.S. House of Representatives to promote small business lending:
"Manufacturers currently lack the access to credit needed to help finance their day-to-day operations, invest in expansion of domestic operations and ensure a disruption in the critical supply chain does not occur. Traditional lenders have either drastically reduced lines of credit or denied loans to companies that are healthy or temporarily impaired due to the global economic crisis. Small and medium sized manufacturers continue to bear the brunt of the financial crisis - trapped between their customers and creditors. OneVoice supports legislation and regulatory action to help small and medium sized manufacturers that are based on the following principals:
Congress needs to pass legislation quickly so that thousands of small businesses can obtain the access to capital needed to purchase equipment and rehire employees as the economy recovers."