Tag: sba

Landrieu, Snowe Bill to Create Jobs and Increase Small Business Lending

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For those of us treading water, this is a hopeful sign.

the “Small Business Job Creation and Access to Capital Act of 2009” would increase the small business loan limit to as high as $5.5 million and extend for a year the fee eliminations and increased guarantee set to expire under the Recovery Act.

Specifically, the “Small Business Job Creation and Access to Capital Act of 2009” would:

  • Increase the loan limit on 7(a) loans from $2 million to $5 million;
  • Increase the loan limit on 504 loans from $1.5 million to $5.5 million;
  • Increase the loan limit on microloans from $35,000 to $50,000 and increase the maximum loan made to a microloan intermediary from $3.5 million to $5 million;
  • Allow the 504 loan program to refinance short-term commercial real estate debt into, long-term, fixed rate loans;
  • Extend the authorization to provide 90 percent guarantees on 7(a) loans and fee elimination for borrowers on 7(a) and 504 loans through December 31, 2010; and
  • Direct the SBA to create a website where small businesses can identify lenders in their communities.

Read the complete press release.

Governor Schwarzenegger Signs Legislation Increasing Opportunities for Small Businesses

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This article announces changes to how small business and Disabled Veterans Businesses are treated as it relates to state contracts. Also has a lot of nifty research information hidden amongst AHARNALD’s self congratulation. – Ed.

Bill Increases Small Business and Disabled Veteran Business Eligibility for  State Contracts and Recovery Act Projects

Governor Arnold Schwarzenegger today signed AB 31 by Senator (former Assemblymember) Curren Price (D-Inglewood), expanding small business and disabled veteran business enterprise participation in state contracts and American Recovery and Reinvestment Act (Recovery Act) projects. Small businesses and disabled veteran business enterprises make up 98 percent of all California enterprises, employ over half of our workforce and are projected to create 99 percent of the state’s future jobs. A recent study commissioned by the Procurement Division of the Department of General Services found that these firms produce about 50 percent more overall California economic impact for each dollar spent than large enterprises. Continue reading “Governor Schwarzenegger Signs Legislation Increasing Opportunities for Small Businesses” →

Governor’s Office of the Small Business Advocate Releases Study Of Costs of State Regulation To Small Businesses In California

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Study Provides Policy Makers With Tools to Encourage Small Business Growth In California

The Governor’s Office of the Small Business Advocate today released a study of the aggregate cost of state regulation to small businesses in California. The study was commissioned by Governor Arnold Schwarzenegger in 2006 when he signed Assembly Bill 2330 by Assemblyman Juan Arambula (I-Fresno) and was completed by Sanjay Varshney Ph.D., the Dean of Business Administration at California State University, Sacramento, and Dennis Tootelian Ph.D., Director of the Center for Small Business at the same school.
Continue reading “Governor’s Office of the Small Business Advocate Releases Study Of Costs of State Regulation To Small Businesses In California” →

The Small Business Advocate for Aug-Sep 2009 | SBA

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The Small Business Economy

Although many positive signs have indicated that the economy is beginning to improve and recover, at the end of 2008 America was experiencing one of the largest quarterly drops in GDP since the Great Depression. … The recession began with plummeting home values, and the construction industry, composed primarily of small businesses, has been the hardest hit.

Also:

Advocacy Interns Expand Summer Staff

Special Insert: Small Business FAQ

For the full report Click Here

Second Quarter 2009: Small Business and The Economy | SBA

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Trends

Real gross domestic product fell an annualized 1 percent in the second quarter of 2009. While this was the fourth consecutive quarter of declining output, the decline was significantly less than the previous quarter’s 6.4 percent drop, and it may be one of a handful of signs that the worst of the recession may be past. Real consumer spending, which accounts for 70 percent of real GDP, was down 1.2 percent annually, and real exports were off 7 percent. Other declines were more marked: real gross private fixed investment declined an annualized 20.5 percent, and real imports fell 15.1 percent. Measures of manufacturing output were mixed, with industrial production falling and the Institute for Supply Management’s purchasing manager’s index rising. Proprietors’ income fell 5.4 percent on an annualized basis during the quarter, and by 8 percent year to year.
Continue reading “Second Quarter 2009: Small Business and The Economy | SBA” →

Statewide Small Business Stimulus Program Heads to L.A. | SBA

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Business Matchmaking and SBDC team to help entrepreneurs access contracts.

LOS ANGELES — On Sept. 2 Los Angeles will be the fourth stop in a 15-city, California tour aimed at increasing small business readiness to access stimulus-funded contracts through President Obama’s Economic Recovery Plan.

The program, Stimulus Opportunities for Small Business, is free for participants and will be presented by California Small Business Development Centers and Los Angeles-based nonprofit Business Matchmaking, in cooperation with the Small Business Advocate in the governor’s office.
Continue reading “Statewide Small Business Stimulus Program Heads to L.A. | SBA” →