Good Morning. Welcome everyone to Greenwood Village and to the Sixth District of Colorado. I would like to start today's hearing for thanking everyone here in Greenwood Village and in the city hall building for hosting this hearing.
Today we have a unique opportunity to get a glimpse into the work being done in Washington and on the Small Business Committee as we try to reduce the regulatory burdens that hinder job creation in this country. Small Businesses create 7 out of 10 new private sector jobs in America. So, it's important that any regulation or government oversight fully takes into account how they will impact small firms and their ability to access capital.
As Chairman of the Investigations, Oversight and Regulations Subcommittee, I wanted to hold this hearing, so the people here in Colorado can share their perspective on how government is impacting their businesses and their communities. According to Google Maps, we are 1,661 miles from Washington, DC. In that distance we go from looking at what the government can do versus what the people can do without government interference and regulatory burdens.
Up first we have a representative from the Small Business Administration who is here to discuss the SBA loan programs. The goal of the SBA loan programs is to help small businesses who are unable to financing elsewhere, get money to start or expand a business. We want to know whether this program is actually helping entrepreneurs.
Next, we will hear from a few local businesses including First American State Bank, Centennial Bank and from the Chamber of Commerce here in the South Denver region. Their testimony will tell us what problems banks and small businesses face as they work to start and grown businesses and create the jobs that will allow our economy to recover. With that, I would like to again thank everyone for being here.