SBA Renews Popular Patriot Express Loan Initiative for Three More Years

A very popular initiative that, in just three-and-a-half years has provided more than $560 million in loan guarantees to nearly 7,000 veterans to start or expand their small businesses, is being renewed for three more years, according to the U.S. Small Business Administration.

Patriot Express, a streamlined pilot loan product based on the agency’s SBA Express program, offers an enhanced guaranty and interest rate on loans to small businesses owned by veterans, reservists and their spouses. Over the past two years, due in part to the American Recovery and Reinvestment Act, loan volume increased dramatically.

"America’s veterans have the leadership skills and experience to become successful entrepreneurs and small-business owners," said SBA Administrator Karen Mills. "The impact of this program over the last three-and-a-half years has meant thousands of veterans and their families have had the resources to pursue their dreams as entrepreneurs and, at the same time, create jobs and drive economic growth at a critical time for our country.

"Renewing it means we can continue to fulfill our sacred commitment to the men and women who serve our country by giving them every opportunity for success."

Patriot Express was launched June 28, 2007, to expand upon the more than $1 billion in loans SBA guarantees annually for veteran-owned businesses across all its loan programs. SBA also offers counseling assistance and procurement support each year to more than 200,000 veterans, service-disabled veterans, reservists, and members of the National Guard and their spouses.

Patriot Express loans are offered by SBA’s network of participating lenders nationwide and feature one of SBA’s fastest turnaround times for loan approvals. Patriot Express loans are available for up to $500,000.

The Patriot Express loan can be used for most business purposes -- including start-up, expansion, equipment purchases, working capital, inventory or business-occupied real-estate purchases. Local SBA district offices can provide lists of Patriot Express lenders in their areas. Details on the initiative can be found at www.sba.gov/patriotexpress.

To learn more about additional opportunities for veterans available through the SBA, please visit the website at www.sba.gov/vets.

SOURCE: U.S. Small Business Administration
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SBA Awards Grants to Help Veteran Small-Business Owners

Today, the U.S. Small Business Administration announced the award of grants to 10 local SBA Small Business Development Centers [SBDCs] to increase entrepreneurial assistance to veterans. The grants will provide approximately $1 million to fund programs for veterans that promote business ownership, and provide services to small businesses dealing with the deployment of key personnel overseas.

Each SBDC receiving funds will promote increased coordination of services to veterans, and will use multimedia tools to connect veterans through distance learning and customized online business counseling by providing services to reach the local veteran business community. Five of the centers were previously awarded grant funds to provide these services, and will now receive a second year of funding. Five centers will receive grant funds for the first time.

The five SBDCs receiving a second year of funding are located at the Research Foundation at the State University of New York; University of Arkansas at Little Rock; University of Kentucky Research Foundation in Lexington; University of Texas at San Antonio; and George Mason University in Virginia.

The five first-time grant recipients include SBDCs located at the Colorado Office of Economic Development and International Trade; University of Southern Maine; University of Nebraska at Omaha; Southeastern Oklahoma State University; and Lane Community College in Eugene, Ore.

These SBDCs were selected from a highly competitive pool of applicants based on the range of services they could provide to veterans, and will provide the services as listed below:

* The Arkansas SBDC developed ArkansasVeteran.com as a one-stop virtual veterans’ center, providing information about health, education, employment, entrepreneurship and family issues. This portal links federal, state and local resources available to veterans. Several colleges and universities have joined in this initiative and offer free online courses to veterans through the site. The Arkansas SBDC also joins other veteran organizations to provide transition assistance for deployment, as well as for transition back to civilian life.

* The Kentucky SBDC created kyvetbiz.com to provide veterans with information about the services available through the Kentucky SBDC and other organizations that assist veterans. The portal provides online business courses in English and in Spanish; lists events and workshops occurring statewide; has a blog on popular topics for veteran business owners; and links federal, state and local resources available to veterans. The Kentucky SBDC is also active in veterans’ transition events.

* The New York State SBDC created a special "Veterans’ Business Services" Web page at http://bit.ly/NYSSBDCVeterans that links available services to veterans in the state, and also to federal, state and local resources. Online training and business development are also available from the site. The program director participates in seminars for veterans throughout the state, and plans events tailored to veterans.

* The San Antonio SBDC, through its newly created website, http://vasp.txsbdc.org/, is a one-stop reference for veterans and military personnel who are new entrepreneurs or small-business owners. It provides self-assessment tools, online counseling, distance learning, Web-based assessments, government contracting assistance, business planning and startup assistance, and help with preparation of applications for bank loans and financing. The website connects the resources of federal, state, and local entities that are available to veterans.

* The Virginia SBDC created http://www.vetbizresourcecenter.com/, which contains easy-access video guides for veteran business owners and prospective business owners covering a wide range of subjects -- such as transitioning from the military to business, preparing for deployment, financing, and contracting opportunities. The site links vets and reservists to other federal, state and local resources available to veterans. The Virginia SBDC also participates inveterans' conferences and events.

* The State of Colorado SBDC, along with its existing partners, will coordinate a multi-state effort, collaborating with strategic partners to create an integrated, one-stop virtual resource for veteran-owned small businesses. This resource will provide information and high-quality, cost-effective small business assistance to the veteran community through Internet-based consulting, training, social networking and a veteran database registry.

* The Maine SBDC will create a technology-based program to provide the military business community with tools to overcome the barriers to entrepreneurship. The project will include a marketing initiative to promote the educational services of the Maine SBDC available to the veteran community, provide online counseling and distance learning, and create a veterans assistance portal by coordinating with other organizations that assist veterans.

* The Nebraska SBDC will provide services to veterans by coordinating with the Veterans Administration, the Nebraska Department of Labor, the Veterans in Business Forum, the Nebraska National Guard, and the 55th Air Wing and Strategic Air Command at Offutt Air Force Base. It will use news media and speeches to service clubs and other organizations to reach veterans, particularly at the early stages. The center will develop a website for veterans to serve as a portal to online counseling and courses, and provide sound and timely information on starting and running a business.

* The Oklahoma SBDC, located in a state that is home to four active military installations, will work closely with each installation to provide services to veterans and military personnel. They will also work closely with Army family readiness groups, and provide training and education to veterans, and their families, who are in business or are considering starting businesses. The center will provide resources to military personnel that will transition to the civilian world. The SBDC will also offer training sessions and workshops via live video feed through a distance learning center, and expand on established channels of communication to reach veterans in need of assistance.

* The Oregon SBDC will establish a customized veterans small business management program, engaging National Guard business owners affected by unexpected deployment and difficult economic times. The training will allow peer veteran sharing of information and best practices in business, while developing strategic planning solutions to help Oregon’s veterans. The center will serve as a one-stop point of contact and deliver services through traditional one-on-one counseling and simultaneous distance education, VoIP audio and Web technology to eliminate time and distance barriers.

SOURCE: U.S. Small Business Administration
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Senate Unanimously Passes Kerry Small-Business Innovation and Technology Funding Plan

Senator John Kerry [D-Mass.], a senior member of the U.S. Senate Committee on Small Business and Entrepreneurship, applauded yesterday's unanimous Senate passage of two small-business research programs that Kerry originally sponsored as the committee’s former chairman.

The Small Business Innovation Research [SBIR] and Small Business Technology Transfer [STTR] programs, administered under the Small Business Administration [SBA], offer competitive awards to innovative small businesses. Reflecting Kerry’s original legislation, yesterday’s vote will reauthorize the SBIR and STTR programs for eight years, making the new sunset date for both programs Sept. 30, 2017.

"This is a shot in the arm for small businesses in Massachusetts and throughout the country," said Kerry. "This vote ensures that these programs do not lapse, so that small, high-tech firms, from Springfield to Newburyport, can continue to utilize them to develop technologies to keep our military strong, advance medical breakthroughs, and develop energy sources that are renewable and clean."

Small businesses awarded funding through SBIR or STTR work through three incremental phases. Yesterday’s legislation will increase the awards from $100,000 to $150,000 for Phase I, and from $750,000 to $1 million for Phase II.

SOURCES: Library of Congress, Sen. John Kerry's Online Office, U.S. Small Business Administration
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Landrieu Fights for Small-Business Contracts in Military Procurement Process

United States Senate Committee on Small Business and Entrepreneurship Chair Mary Landrieu [D-La.] wrote today to Senate Armed Services Committee Chairman Carl Levin [D-Mich.] and Ranking Member John McCain [R-Ariz.] in support of the Weapons System Acquisition Reform Act of 2009 [S.454], which was marked up this morning.

Specifically, Sen. Landrieu indicated her support for Section 205, “Organizational Conflicts of Interest in the Acquisition of Major Weapon Systems,” and Section 203, “Maximization of Competition Throughout the Life Cycle of Major Defense Acquisition Programs,” which would increase meaningful opportunities for small businesses to compete for Department of Defense [DoD] projects.

Currently, the DoD procurement process sometimes lacks independent or objective analysis to determine the best firm for a particular contract. In her letter, Sen. Landrieu cited an example in which a small business was nearly put out of business because the DoD disregarded a conflict of interest when making a contracting decision.

With the help of the Small Business Innovation Research [SBIR] program, the company, NAVSYS Corporation, developed technology for a GPS navigation system for the Air Force, which the government found helpful. When the Air Force began to transition the technology into its GPS program, it asked the prime contractor to assess whether the technology should be used. The prime contractor, however, had a conflict of interest in determining whether the small business should get the contract or the prime contractor should do it themselves. The prime contractor ultimately decided to do it themselves.

“Small businesses are too often overlooked or harmed by the federal government’s contracting process,” Sen. Landrieu said today. “Section 205 of the Weapons System Acquisition Reform Act will go a long way toward protecting small businesses from conflicts of interest, while eliminating waste and inefficiency at the DoD.

“Section 203 of the bill would also help to maximize competition for defense acquisition contracts, which will help small businesses because it creates more potential opportunities for them to participate.”

Sen. Landrieu’s letter to Sens. Levin and McCain is available online at: http://tinyurl.com/d7zc3s.

GoodBiz113's take: For far too long, greedy and gluttonous prime contractors have feasted at the DoD contracting table. It's time for them to share the wealth of DoD procurement opportunities with smaller, leaner and faster enterprises who bring real innovation and cost-effective efficiencies to the needs of our military forces. Bravo to Sen. Landrieu for her efforts to improve DoD's acquisition procedures to serve the greater good.

SOURCES: Library of Congress, U.S. Senate Committee on Small Business & Entrepreneurship
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