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News & Press: Policy News

WIPP CREED Act Support Letter

Wednesday, August 05, 2015  
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August 5, 2015         

The Honorable Jeanne Shaheen

Ranking Member

Committee on Small Business & Entrepreneurship

520 Hart Senate Office Building

Washington D.C., 20510


The Honorable Johnny Isakson


Committee on Small Business & Entrepreneurship

131 Russell Senate Office Building

Washington D.C., 20510


Dear Ranking Member Shaheen and Senator Isakson:


On behalf of Women Impacting Public Policy (WIPP), I am writing in support of S. 966, the Commercial Real Estate and Economic Development Act of 2015 (CREED Act). By reinstating the 504 Refinance Program, the CREED Act allows business owners more access to capital at no cost to the taxpayer. Representing over 4.7 million businesswomen, increasing capital access is essential to WIPP’s mission of advancing women entrepreneurs.


Part of the 2010 Small Business Jobs Act, this program allowed business owners nationwide to refinance commercial mortgages through SBA-backed loans. These low cost loans prevent capital constraints associated with high interest rates and balloon payments. The program expired in 2012. Reauthorizing this program helps ensure that women entrepreneurs have the needed capital to expand their businesses, and has been a priority of WIPP’s access to capital efforts since 2013.   


Permanently authorizing the program has received bipartisan support in the House and Senate – largely because it frees up business capital at no expense to the taxpayer. S. 966 would achieve this, improving the capital markets for entrepreneurs, and has WIPP’s support. Thank you for your support of the women’s business community.



Kristie Arslan, Executive Director
Women Impacting Public Policy



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