Capital Gains Tax Cut: Some Other Thoughts
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Tom Petruno’s column was “right on” for the most part, but I take exception to his comment, “Bankers are good at lending to big firms, but investing in small businesses isn’t banks’ forte.”
I would like to remind you that there are more than 400 “community banks” in California providing financing for 90% of the small- to medium-sized businesses in our state.
We provide start-up funds, inventory and accounts receivable financing and loans for new equipment, as well as providing working capital for these companies. We also take care of cash and coin requirements for their payrolls.
The community bank’s lifeblood is the small business and the entrepreneur--the folks that gamble their life savings on building a better life for themselves and their families.
BRENT E. SAUNDERS
Executive Vice President
Bank of Encino
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