Loggers’ Access to Credit: ACTION REQUESTED by November 26

MEMO TO: All FRA Members

SUBJECT: Loggers’ Access to Credit: ACTION REQUESTED by November 26

Dear Members:

The FRA Board has identified the credit crisis, especially as it affects logging contractors and other supply-chain-related small businesses, as an action area for FRA.

FRA President Deb Hawkinson and I will be joining the Credit Union National Association on Capitol Hill, November 27 and 28, to advocate liberalizing rules that currently restrict federal credit unions’ opportunities to lend to small businesses. The legislative vehicle we will advocate is The Credit Union Small Business Jobs Bill (S 2231, HR 1418), which would enable federal credit unions to increase the current 12.25% cap on total assets a credit union may lend to small businesses to 27.5%. Senate Leadership indicates it intends to bring this bill to a vote in the Senate during the current lame duck session. I have attached an FRA Fact Sheet describing the Bill and FRA’s position.

It will help us, in making contacts with Congressional offices, if we can display letters from loggers describing their difficulties in obtaining credit, and how those difficulties are obstructing their operations, their opportunities to expand, and their ability to supply their customers and serve their communities.

Please respond directly to me if you are a logger. If you are not a logger but know of a logger who might provide a useful response, please forward this message to that logger.

I have attached a suggested general outline for a letter; the important points are:

• Write your one-page letter on your business’s letterhead; or at least provide a full return address at the top.
• Address your letter “To Whom It May Concern.”
• Describe your business, how many it employs, where it operates, and its approximate annual volume.
• State how difficulties in obtaining credit are hurting you; if your traditional sources of credit are no longer available, describe the problem.
• Express the hope that Congress will act to address the problem.

Convey your letter to FRA:

• If possible as a scanned PDF file (e-mailed to nward@forestresources.org); OR
• By FedEX or UPS one-day delivery to FRA’s national office; OR
• If it’s the only practical alternative, fax it to 301-838-9481.

Please be sure we have your letter by Monday, November 26.

FRA’s delivery address for FedEx or UPS is:

Neil Ward
Forest Resources Association Inc.
600 Jefferson Plaza, Suite 350
Rockville, MD 20852

Neil

Neil A. Ward
Vice President, Public Affairs
Forest Resources Association Inc.
600 Jefferson Plaza, Suite 350
Rockville, Maryland 20852
USA
ph 301-838-9385
fx 301-838-9481
www.forestresources.org