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INTRODUCTION <br /> <br /> Many communities offer financing, tax incentives, and utilities to <br /> <br />attract new industry. <br /> <br /> But while they are concentrating on new, larse industries, they may <br /> <br />be losing their ~xistins, small firms. <br /> <br /> Development professionals in New York, Philadelphia, and Chicago re- <br /> <br />port that ten ~10) existing companies left their cities while thay were <br /> <br />attracting one new company. <br /> <br /> Retention of ~xisting industries and helping them to ~xpand should <br /> <br />not be overlooked. <br /> <br /> Small businesses face a "long tez-m loan gap". Fortune 500 ~irms <br /> <br />can get multi-million dollar, long term loans from insurance companies. <br />Small businesses can only get short term (.four (3) or five (5) year) <br />loans irom banks. <br /> <br /> 'Congress has created the SBA 503 program to make smaller, long <br /> <br />term loans available to existing ~usinesses in a community. How would <br /> <br />this work? <br /> <br /> <br />