Category: News and Views

SBA Recovery Act Funding Extended

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Extension of SBA Recovery Lending Programs Will Support $1.8 Billion in Small Business Lending

Agency plans to restart Recovery loan approvals on March 10

WASHINGTON – President Barack Obama signed legislation Tuesday extending until March 28 the U.S. Small Business Administration’s ability to provide small business loans that are enhanced with special provisions of the American Recovery and Reinvestment Act (ARRA), including a higher guarantee of SBA-backed loans and a waiver of loan fees normally paid by borrowers.

SBA estimates the additional funding will support about $1.8 billion in small business lending.
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External Affairs February 2010 newsletter | The Governator

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CALIFORNIA RECOVERY TASK FORCE UPDATE: HIGH-SPEED RAIL

The State of California is ushering the United States’ transportation system into the 21st Century. In 2008, voters approved Proposition 1A, a $10 billion bond measure to seed the development of a high-speed train network in California. On January 27, 2010, U.S. Department of Transportation Secretary LaHood notified Governor Schwarzenegger that California will receive $2.25 billion in federal funds for our high-speed rail project. California received more money than any other state due in part to our diligent planning over the past 10 years.
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Regulators ease up on small business loans | CNN Money

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I hope this is true.

Hoping to ease the small-business credit crunch, six regulatory agencies recently banded together in a joint statement essentially promising to back off second-guessing banks’ loans. “Prudent” small business lending “will not be subject to supervisory criticism,” a regulatory group led by the Federal Deposit Insurance Corp (FDIC) said earlier this month.

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Failing Big Banks? Euthanize ‘Em! | Mother Jones

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It’s a plan Volcker has been pushing since he emerged on the financial-reform scene in the past year or so, and Obama so far seems to be support some kind of bank wind-down process. “You get very aggressive traders, and they’re out there,” Volcker said. “Millions of dollars are at stake, and personal bonuses, so they have a real incentive to take risks, which is fine, if you’re not being protected by the government.”

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