AEROSPACE & DEFENSE

Senator Seeks More Loans for Small Businesses: California Democrat Dianne Feinstein has introduced a bill to fund a small-business loan program that she hopes will help create 400,000 jobs nationwide for people who are out of work because of Defense Department cuts. “California has suffered the biggest hit from defense downsizing and base closures,” Feinstein said. “Every county in Greater Los Angeles has been affected by defense downsizing.” The legislation will use $100 million in Small Business Administration loan guarantees to leverage $4 billion in private sector loans to businesses affected by defense cutbacks and military base closures, she said. Feinstein estimated that by 1998 California will have lost 650,000 jobs because of the military cuts.