79 



I an proud to say that we have serviced this new debt as 

 scheduled, and we have further re-invested in our business. 1994 

 turned out to be a solid year financially. Today, we are 

 prepared be a part of Gloucester's future. 



But no thanks to the government's SBA. In our case, for the 

 time being, the private sector solved the problem on its own. 



But the SBA should be an active partner, with the banking 

 community, and other Federal, State and City resources geared to 

 retaining and strengthening key businesses. Federal funding 

 assistance of locally administered revolving loan funds, like the 

 Cape Ann Commercial Fishermen's Loan Fund and the Gloucester 

 Investment Revolving Loan Fund Corporation are good examples of 

 practical, responsive funding mechanisms. 



The fishing industry will be condemned, if its vital 

 services are cut off, and we allow its infrastructure to be 

 dest royed . 



Thankyou . 



o 



