RESOLUTION

WHEREAS, the stability and productivity of the economy is one of the most important and vital components of a healthy society; and

WHEREAS, the terrorist attacks on September 11, 2001, have damaged various sectors of the United States' economy and further deepened a business slowdown that was already occurring prior to the attacks; and

WHEREAS, a wide spectrum of businesses, ranging from Fortune 500 companies to individually owned establishments, and belonging to a broad range of sectors, from travel and tourism to restaurant and retail, has been negatively impacted by the recent economic environment; and

WHEREAS, the Congress of the United States has already introduced and passed needed relief for some of the largest corporations including the major domestic airlines; and

WHEREAS, small businesses are also under intense financial strain as the aftershocks of the terrorist attacks as well as the general slowdown in economic growth have forced many of these businesses to the edge of bankruptcy; and

WHEREAS, providing support to small businesses in the form of loans and other financing initiatives is critical to the overall health of the economy, because it would provide much- needed employment for Americans across the country; and

WHEREAS, there are several legislative initiatives before Congress that aim to provide support to small businesses, including financial loans; now, therefore,

BE IT RESOLVED by the Senate of the Twenty-first Legislature of the State of Hawaii, Third Special Session of 2001, the House of Representatives concurring, that the Congress of the United States is requested to pass legislation to provide loan assistance to small businesses; and

Report Title:

Requesting the U.S. Congress to provide small business loans.