Employers Gain Access to Database to Recruit Workers With Disabilities

The U.S. Department of Labor's Office of Disability Employment Policy, in collaboration with the U.S. Department of Defense, today made available the 2011 Workforce Recruitment Program for College Students with Disabilities database. This resource is intended to assist federal and private-sector employers in identifying workers with disabilities.

The more than 2,200 candidates in this year's database represent all academic backgrounds and are working toward, or recently earned, associate, bachelor's, master's, doctoral or law degrees. Students have been interviewed by recruiters from various federal agencies. Some seek summer employment, while others are looking for regular, full-time positions.

"This database is filled with talented students who are highly motivated to prove their skills in the workplace," said ODEP Assistant Secretary Kathy Martinez [pictured].

To take advantage of the new database, federal officials can visit http://www.wrp.gov/ to register and search independently for candidates who meet their hiring needs. They also can track the status of candidates they are interested in interviewing, including whether they already have been hired.

Private-sector employers can search the program's database through ODEP's national Employer Assistance & Resource Network by making a toll-free telephone call to 866-327-6669, or filling out a request form at http://www.earnworks.com/.

More than 20 federal agencies regularly utilize the Workforce Recruitment Program as a recruiting tool, and it has provided employment opportunities for more than 5,500 students since 1995. The program supports President Obama's executive order titled "Increasing Federal Employment of Individuals with Disabilities."

SOURCE: U.S. Department of Labor
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SBA Chief Announces One-Page Form for Claiming Small-Biz Health-Care Tax Credit

SBA Administrator Karen Mills [pictured] just released an open letter to small-business owners, announcing a simple one-page form that we can use to claim the health-care tax credit for 2010. Following, is the text of her letter:

* * *

December 2, 2010

Dear Small-Business Owner,

As I've traveled the country this year, I have heard from many of you who are looking forward to the new tax credits, health insurance exchanges, and other tools that will help you provide health insurance coverage to your employees as a result of the Affordable Care Act.

The most immediate benefit of the new law is a tax credit that will help America’s smallest employers and nonprofit organizations [fewer than 25 fulltime equivalent employees with average annual wages below $50,000] who have been hit hardest by premium increases in recent years. Today, I'm pleased to announce that the Administration is releasing a one-page form and instructions [available at http://bit.ly/SmallEmployers] on how to claim this credit for the 2010 tax year.

In addition, new guidance released today answers questions that many of you have asked related to: your current contribution arrangements, eligibility for certain religious institutions, and participation by multi-employer health and welfare plans. In each case, the Administration has worked to ensure that a broad range of small businesses can qualify.

These credits are available for tax years 2010 through 2013, and for any two years after that. Through 2013, the maximum tax credit is 35 percent of premiums paid by small employers, and 25 percent for eligible tax-exempt organizations. Beginning in 2014, those levels increase to 50 percent and 35 percent, respectively.

Importantly, these credits are just one of many benefits in the Affordable Care Act. Most notably, in 2014, firms with up to 100 workers will be able to pool their buying power and reduce their administrative costs by purchasing coverage through a health insurance exchange.

Finally, the new law strengthens America’s entrepreneurial spirit, overall. For example, it outlaws discrimination against those with pre-existing conditions, giving more Americans the ability to break out of "job lock" and start their own companies. The new law also prohibits insurance companies from dramatically increasing premiums for a small business just because one worker gets sick.

Overall, the Affordable Care Act is a critical tool that will help millions of small-business owners provide health insurance to people who you often consider to be members of your extended family -- your employees. As a nation, we owe you nothing less as you work to grow, create jobs, and lead us toward full economic recovery.

Warm regards,

Karen Mills
SBA Administrator

* * *

GoodBiz113's Take
This latest move effectively underscores the Affordable Care Act's profound import to small businesses' short- and long-term financial and tax-reporting interests. Once again, the Obama Administration has demonstrated that it truly believes in the power of small businesses to propel America's economy, and has delivered on its promise to promote entrepreneurship and affordable access to health care.

SOURCE: HealthCare.gov, Internal Revenue Service, U.S. Small Business Administration
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President Obama on Infrastructure Investment: "This is Work That Needs to Be Done. There Are Workers Who Are Ready to Do It."

During tough economic times, one of the toughest jobs to hold is as a construction worker. In almost any city or town in America, you're likely to see buildings, projects, or roads left half-done after investments made by private enterprise or state and local governments -- based on expectations of a brighter economic future -- dried up.

Meanwhile, there is a near-universal consensus that America's infrastructure is both falling apart and lagging behind as our competitors move forward on the next generation of transportation.

That's part of why a new report from the Council of Economic Advisers [CEA] and the Treasury Department [pdf] encourages a bold, new plan to invest -- finding that infrastructure projects have a high bang for the buck because construction costs are low, due to underutilized resources, and that these investments would create jobs in sectors of the economy suffering from some of the highest levels of unemployment. The Recovery Act already created hundreds of thousands of jobs this way, but there is more than enough left to do.

After meeting with some of his Cabinet secretaries -- along with a bipartisan group of former secretaries of Transportation, mayors and governors who have come together in support of infrastructure investment -- President Obama [pictured with the group outside the White House] spoke both on the depth of the problem and value of the solution.

On the Problem...
"For years, we have deferred tough decisions, and today, our aging system of highways and byways, air routes and rail lines hinder our economic growth. Today, the average American household is forced to spend more on transportation each year than food.

"Our roads, clogged with traffic, cost us $80 billion a year in lost productivity and wasted fuel. Our airports, choked with passengers, cost nearly $10 billion a year in productivity losses from flight delays. And in some cases, our crumbling infrastructure costs American lives. It should not take another collapsing bridge or failing levee to shock us into action.

"So we’re already paying for our failure to act. And what’s more, the longer our infrastructure erodes, the deeper our competitive edge erodes.

"Other nations understand this. They are going all-in. Today, as a percentage of GDP, we invest less than half of what Russia does in their infrastructure, less than one-third of what Western Europe does.

"Right now, China’s building hundreds of thousands of miles of new roads. Over the next 10 years, it plans to build dozens of new airports. Over the next 20, it could build as many as 170 new mass transit systems.

"Everywhere else, they’re thinking big. They’re creating jobs today, but they’re also playing to win tomorrow. So the bottom line is, our shortsightedness has come due. We can no longer afford to sit still."

On the Solution...
"By investing in these projects, we’ve already created hundreds of thousands of jobs. But the fact remains that nearly one in five construction workers is still unemployed and needs a job. And that makes absolutely no sense at a time when there is so much of America that needs rebuilding.

"So that’s why, last month, I announced a new plan for upgrading America’s roads, rails and runways for the long-term.

"Over the next six years, we will rebuild 150,000 miles of our roads -- enough to circle the world six times. We will lay and maintain 4,000 miles of our railways -- enough to stretch from coast to coast. And we will restore 150 miles of runways and advance a next-generation air-traffic control system that reduces delays for the American people.

"This plan will be fully paid for. It will not add to our deficit over time. And we are going to work with Congress to see to that. It will establish an infrastructure bank to leverage federal dollars and focus on the smartest investments.

"We want to cut waste and bureaucracy by consolidating and collapsing more than 100 different, often duplicative programs. And it will change the way Washington works by reforming the federal government’s patchwork approach of funding and maintaining our infrastructure.

"We’ve got to focus less on wasteful earmarks, outdated formulas. We’ve got to focus more on competition and innovation; less on shortsighted political priorities, and more on our national economic priorities.

"So investing in our infrastructure is something that members of both political parties have always supported. It’s something that groups ranging from the Chamber of Commerce to the AFL-CIO support today. And by making these investments across the country, we won’t just make our economy run better over the long haul -- we will create good, middle-class jobs right now."

* * *

GoodBiz113's Take: Between 1935 and 1943, President Franklin Delano Roosevelt's Works Progress Administration [aka Work Projects Administration, or WPA] put nearly eight million people to work on much-needed public works projects that reshaped America's infrastructure -- all while benefiting individuals, families, small businesses, corporations and communities from coast to coast.

In their joint report released today, Department of Treasury and CEA officials present a compelling case for taking action ASAP to invest financial resources in another historic infrastructure-building initiative that will serve short-term employment needs, as well as our nation's long-term transportation and economic-development needs.

Let's just hope that, 70-plus years later, the petty partisanship that nearly blocked FDR's far-reaching efforts doesn't rear its ugly head yet again by trying to obstruct common-sense, future-forward progress.

SOURCES: Council of Economic Advisers, Treasury Department, The White House [photo by Lawrence Jackson], Wikipedia
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Senator Landrieu Defends Bipartisan Small-Business Lending Fund Legislation

United States Senator Mary L. Landrieu [D-La.. pictured on right], chair of the Senate Committee on Small Business and Entrepreneurship, yesterday spoke with Fox Business anchor Gerri Willis of "The Willis Report" about the state of small business.

Specifically, Sen. Landrieu defended the bipartisan Small Community Business Lending Fund in the Small Business Jobs Creation Act, which the Senate is currently debating.

Sens. Landrieu and George LeMieux [R-Fla.] introduced an amendment to the Small Business Jobs Creation Act that restored the $30 billion lending facility. The amendment passed the Senate by a vote of 60-39.

Despite a Republican filibuster and repeated attempts to stall legislation aimed at supporting small businesses, Sen. Landrieu has continued her fight to give businesses greater access to capital, to hire workers and grow their business. She called on her colleagues in the Senate -- Republicans and Democrats alike -- to put aside partisan rhetoric and deliver help to America’s 27 million small businesses.

To view the video of Sen. Landrieu's appearance on "The Willis Report," go to: http://bit.ly/LandrieuWillisVid.

For information on the LeMieux-Landrieu Amendment -- S. AMDT 4500, the Small Business Lending Fund [SBLF] -- visit http://bit.ly/Senate4500.

SOURCES: GovTrack.us, U.S. Senate Committee on Small Business & Entrepreneurship
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Senate Confirms Marie Johns as SBA Deputy Administrator

Marie C. Johns [pictured], a longtime advocate for small businesses, was confirmed by unanimous consent by the U.S. Senate today as deputy administrator of the U.S. Small Business Administration [SBA].

Johns, who was nominated for the post by President Barack Obama, will be the second-ranking official at SBA, with major responsibility for management, policy development and program supervision.

"I’m thrilled to welcome Marie Johns as deputy administrator of the SBA," said SBA Administrator Karen Mills. "Over the past two decades, Marie has dedicated herself to creating great opportunities for small businesses and the local community in Washington, D.C. Marie’s strong leadership will help provide small businesses with the guidance, support and tools they need to grow, create jobs and continue to drive economic recovery throughout the country."

"I am grateful to President Obama for his nomination, and it is an honor to assume the role of SBA deputy administrator," Johns said. "I am excited to join Administrator Mills and the entire SBA team to serve the interests of small businesses across this country. The SBA mission is fundamental to the economic strength of our nation; that is, give small businesses the support they need to grow and create jobs."

Johns is a managing member of L&L Consulting LLC, an organizational effectiveness and public-policy consulting practice. Previously, she served as president of Verizon Washington. Under her leadership, Verizon Washington made significant strides in maintaining the company’s financial health during tumultuous times in the telecommunications industry. Johns retired from Verizon in 2004, after 21 years of service in the telecommunications industry.

Johns has a long record of business and civic leadership. She is the former chair of the DC Chamber of Commerce; founder of the Washington, D.C., Technology Council; former chair of Leadership Greater Washington; and founding chair of the Howard University Middle School of Mathematics and Science [MS]².

While at Verizon Washington, Johns created the Students Educated for Economic Development Success [SEEDS] program. SEEDS prepared over 200 high-school dropouts for entry-level positions in the telecommunications industry -- many of whom were hired by small, local firms.

"Marie Johns comes to the SBA with an impeccable record of leadership and public service," noted Mary Landrieu [D-La.], chair of the Senate Committee on Small Business and Entrepreneurship. "At a time when this agency is undergoing enormous transformations, Marie will be an invaluable asset to Administrator Mills and her team as they continue to put small businesses at the forefront of our economic recovery. I look forward to working with Deputy Administrator Johns in her new capacity, and am glad to have her working on behalf of small businesses across the country."

Johns currently chairs the board of the Howard University Middle School of Mathematics and Science [MS]²; serves on the Council for Court Excellence; and is a member of the board of Girl Scouts USA, the advisory board of the DC Department of Youth Rehabilitative Services, and the women’s advisory board of the Girl Scout Council of the Nation's Capital [GSNC].

She earned her BS and MPA degrees from Indiana University’s School of Public and Environmental Affairs, and was awarded an honorary doctorate of humane letters from Trinity University in Washington, D.C. Johns has been married to Wendell Johns for 38 years.

Last month, the Small Business Committee held a confirmation hearing for the deputy administrator. To view more information from the hearing and testimony from Marie Johns, please visit: http://bit.ly/JohnsConfirmation.

GoodBiz113's Take
Once again, the Obama administration has added an extremely well-qualified candidate to its team. Our nation needs all the MVPs we can get, and Marie Johns clearly has the leadership and management acumen to keep SBA moving forward for the win-win-win good of small businesses, entrepreneurs and self-employed folks from coast to coast.

SOURCES: U.S. Senate Committee on Small Business and Entrepreneurship, U.S. Small Business Administration
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May Labor Report Shows Fifth Consecutive Month of Employment Growth; Private Sector Has Added 495,000 Jobs Since December

Data released this morning by the Bureau of Labor Statistics [BLS] show that job growth, while slow, is consistently on the upswing. Nonfarm payroll employment rose by 431,000 in May, reflecting the hiring of 411,000 temporary workers for Census 2010. The unemployment rate edged down to 9.7 percent. Private-sector employment showed little change over the month [+41,000], but has increased by 495,000 since December.

"These numbers indicate that the steps this administration has taken over the past year have put the American economy on the right track," said U.S. Labor Secretary Hilda Solis. "The most recent estimates from the Council of Economic Advisers [CEA] indicate that the Recovery Act saved or created between 2.2 and 2.8 million jobs through the first quarter of 2010, and helped raise gross domestic product for a third straight quarter. The economy has added jobs in six of the last seven months.

"While we are encouraged to see the economy strengthening and employers starting to hire again, we recognize more work has to be done to ensure every American who wants a job has access to a good job. For the millions of Americans who have struggled to find work in the last year, the economy is still in a recession. As the president said on Wednesday, '[This] will not be a real recovery until people can feel it in their own lives.' The administration is continuing to work with Congress to provide further support that will ensure a rapid recovery.

"We continue to push for programs to help unemployed workers make it through this difficult time. Extending expiring unemployment benefits and health coverage is vital. I call on Congress to extend the unemployment insurance and COBRA subsidy provisions in the Recovery Act through the end of the year. The President has called on Congress to expand the clean-energy manufacturing tax credit, and to help small businesses with tax cuts and a lending fund to help them get the credit they need to create jobs.

"The Department of Labor also has taken important steps to invest in programs that retrain and prepare unemployed workers with the skills and knowledge for 21st century jobs in emerging industries like clean and renewable energy, health care and information technology.

"Many of these programs have been targeted toward populations with the greatest barriers to re-employment and areas with high levels of poverty. Recently, the department made available $90 million to the states for on-the-job training to help displaced workers gain job skills and experiences that will help them secure future employment.

"The economy and jobs situation will continue to be our No. 1 focus in the year ahead. We clearly have much more work to do to get Americans back to work, and the Department of Labor is committed to helping get our country back on track.”

CEA Chair Christina Romer shared her wide-angle view of the just-released jobs numbers. "The fact that the unemployment rate fell and private employment rose are obviously encouraging signs that recovery continues," she noted. "At the same time, the continued high level of unemployment and the slowdown in private-sector job growth emphasize the need for continuing vigilance...

"As always, it is important not to read too much into any one monthly report, positive or negative. The monthly employment and unemployment numbers are volatile and subject to substantial revision. Emphasis should be placed on persistent trends, rather than month-to-month fluctuations."

GoodBiz113's Take
Growth is growth. You can focus on the fact that our nation's unemployment rate is at 9.7 percent, or you can breathe a little easier that employment numbers are gradually trending upward.

We're sharing the glass-is-half-full perspective of GoodBiz113 profilee Life is good® ["Life is good® Festivals Unite Communities, Help Kids Face Unfair Challenges"], who -- just this morning, in fact -- tweeted this timely post: "We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses."

Regardless of what the weather does in your corner of the universe, have a sunny weekend :)

SOURCES: Bureau of Labor Statistics, Council of Economic Advisers [chart], U.S. Department of Labor, The White House
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SBA Administrator Explains Important Health Care Tax Credit Info for Small Businesses

Administrator Karen Mills [pictured], of the U.S. Small Business Administration [SBA], has just written an open letter to small-business owners across the United States, explaining the immediate benefits available to small businesses as part of the Affordable Care Act.

Following, is the full text of her letter:

* * *

Dear Small-Business Owner,

For decades, access to affordable health insurance has been the No. 1 concern of small-business owners. To help you address that concern and provide quality, affordable coverage for your employees, the new Affordable Care Act gives you a number of new tools and benefits.

The most immediate benefit you should know about is the tax credit to help you pay for up to 35 percent of your employee premiums starting this tax year. An estimated 4 million small businesses may qualify for these tax credits, totaling about $40 billion over the next 10 years. Go here to learn more about the tax credit, including new information that explains how this federal credit is in addition to state-level credits you might receive, and how dental and vision coverage are also eligible for the federal credit.

The Affordable Care Act also included reporting requirements if you pay another business $600 or more, starting with 2013 filings. Small-business groups have voiced concerns about the possible burden this places on people like you. That’s why the IRS is already planning to exempt from this requirement your transactions that use credit and debit cards.

Also, the IRS, SBA and others in the Administration are looking for additional ways to minimize burdens and avoid duplicative reporting. We welcome your comments and input as we move forward together to address implementation issues under the new law.

Over the last 16 months, this Administration has taken steps to provide tax relief that puts more money in the hands of small-business owners like you -- including write-offs for new equipment, credits for hiring unemployed workers, and capital-gains exclusions for small-business investors. We know that sensible tax relief like this will help you grow your business, create new jobs, and continue drive America’s economic recovery.

With warm regards,

Karen Mills

* * *

For detailed information about the new Small Business Health Care Tax Credit, visit IRS.gov: http://bit.ly/SmallBizTaxCredit.

SOURCES: Internal Revenue Service, U.S. Small Business Administration, The White House
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SBA Supports More Than $27.5 Billion in Small-Business Lending

The U.S. Small Business Administration received $730 million in the American Recovery and Reinvestment Act [ARRA] to help unlock the small-business lending market and get capital flowing again to America’s small businesses. Due to the success of these programs, the SBA has received an additional $305 million to continue some ARRA programs through May.

SBA Recovery Efforts -- Impact to Date
* SBA Has Supported More Than $27 Billion in Recovery Loans to Small Businesses: As of May 21, SBA has supported more than $27.5 billion in small-business lending, with the approval of $20.6 billion in Recovery loans since Feb. 17. From Feb. 17, 2009, to May 21, 2010, weekly SBA loan dollar volumes rose more than 90 percent in the 7[a] and 504 programs, compared to the weekly average, before passage.

* More Lenders Making Loans: From Feb. 17, 2009, to May 21, 2010, more than 1,309 lenders who had not made a loan since at least 2007 made a 7[a] loan.

* Broad Support to Businesses: A significant share of Recovery loans have gone to rural [24 percent], minority-owned [20 percent], women-owned [18 percent], and veteran-owned [8 percent] businesses

* Secondary Markets Uptick with 7[a] Loans: After months of reduced activity and lower premiums, the SBA 7[a] secondary market is picking up and premiums are beginning to recover. From June to April, the average monthly loan volume settled from lenders to broker-dealers in the 7[a] secondary market has been $336 million, providing lenders with additional liquidity to increase lending.

* ARC Loans Helping Small Businesses: As of May 21, SBA has approved 7,582 ARC loans totaling over $245.4 million by 1,249 lenders to help small businesses make it through this tough economy.

SBA Recovery Programs
To date, SBA has implemented programs for all of the $730 million in SBA Recovery Act funding and an additional $305 million provided in December, February, March, and April for the agency’s lending programs, including:

* Eliminating and reducing fees for borrowers on 7[a] loans, and for borrowers and lenders on 504 loans;

* Raising to 90 percent the guarantee on 7[a] loans from 75 or 85 percent, depending on the size of loan;

* Doubling the surety bond guarantee from $2 million to $5 million, providing small businesses with another tool to help them compete for federal construction and service contracts;

* Assisting struggling small businesses with the new ARC loan program, which provides no-interest, deferred-repayment loans of up to $35,000 to viable businesses to help them make debt payments;

* Providing refinancing opportunities for certain eligible loans into SBA-backed 504 loans for expansion and job creation;

* Expanding access to investment capital for small businesses by increasing funding levels for SBA-licensed Small Business Investment Companies; and

* Taking steps to ensure the stability of the secondary market for SBA loans.

The SBA has also implemented two new programs that complement the ARRA measures and increase access to capital for small businesses by:

* Expanding 7[a] loan eligibility to more than 70,000 small businesses through a temporary alternate size standard; and

* Offering inventory financing for eligible auto, RV, boat and other dealerships under the new Dealer Floor Plan Financing pilot program.

To learn about how SBA and the Recovery Act are helping small businesses succeed, go to: http://bit.ly/SuccessStoriesSBA.

SOURCE: U.S. Small Business Administration
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President Obama Outlines Latest in Series of New Small-Business Proposals; Successful SBA Programs Expanded to Boost Working Capital

Today in Lanham, Md., President Barack Obama [pictured] proposed the expansion of two critical Small Business Administration [SBA] lending programs aimed at allowing small businesses to refinance, and increasing limits for working capital. These are both legislative proposals designed to help small businesses through what continues to be a difficult period in credit markets.

“The true engine of job creation will always be businesses,” President Obama declared. “What government can do is fuel that engine: by giving entrepreneurs and companies the support to open their doors, expand, and hire more workers. Today, we're taking another step towards assisting small-business owners get the capital they need to grow and hire.”

SBA Administrator Karen Mills was pleased with this latest development. “These proposals will provide us with two effective tools to help small businesses meet specific challenges brought on bythe recession,” she said. “First, in the tight credit market of the last two years, lines of credit have been cut for small firms. Raising the limit on SBA Express loans to $1 million will mean more small-business owners will have quicker access to this source of capital to help restock inventories and support larger revenue sales and, literally, take that next step to grow their business and create new jobs.

“Second, thousands of good, creditworthy businesses find themselves caught by declining real estate values as a result of this recession. With many of them now facing mortgages coming due in the next few years, the ability to refinance into SBA’s 504 loan will give them the chance to lock in long-term, stable financing, as well as protect jobs by protecting small businesses from foreclosure.”

Following, are details of the President’s new small-business initiatives:

Expand SBA’s Existing Program to Temporarily Support Refinancing for Owner-Occupied Commercial Real Estate Loans
The Administration is proposing legislation to temporarily allow for the refinancing of owner-occupied commercial real estate [CRE] loans under the SBA’s 504 program, which provides guarantees on loans for the development of real estate and other fixed assets. Currently, 504 loans cannot be used for the refinancing of maturing debt. This change would respond to the difficulties that many current, solvent borrowers face in refinancing existing commercial real estate loans.

Businesses with a loan maturing in the next year, who are current on all loan payments, will be eligible. Lenders that are refinancing mortgages for existing customers will make a loan for up to 70 percent of the current property value; and SBA will help finance the remaining 20 percent. For new lenders taking on a refinancing project, SBA will take on a greater share of financing, up to 40 percent. SBA’s proposal for a temporary, zero-subsidy CRE refinancing program would be funded through additional fees for refinancing projects, not through a Congressional appropriation. This proposal will help refinance up to $18.7 billion each year in commercial real estate that might otherwise be foreclosed and liquidated.

Temporarily Increase the Cap on SBA Express Loans from $350,000 to $1 Million
The President is proposing to temporarily increase the maximum SBA Express loan size to $1 million, which would expand the program’s ability to help a broad range of small businesses through a streamlined approval process.

Unlike traditional 7[a] loans, lenders can use their own paperwork for SBA Express loans, which can be structured as revolving lines of credit. Currently, these Express loans are capped at $350,000, and carry a 50 percent guarantee. Fees would cover virtually all of the added costs of this proposal.

These proposals complement the President’s broader small-business agenda -- a key part of his overall jobs plan. The other elements of the small-business agenda include:

* Extending small-business expensing and bonus depreciation for 2010.

* Eliminating capital-gains taxes for small businesses in 2010.

* A Small Business Jobs and Wages Tax Credit that would cut taxes for more than 1 million small businesses by paying up to $5,000 for every net new job, and covers payroll taxes on overall wage increases in excess of inflation.

* A proposal to transfer, through legislation, $30 billion to a new Small Business Lending Fund that will support lending by community and smaller banks.

* Additional SBA lending proposals -- including an extension of the Recovery Act programs that eliminate fees and raise guarantees on SBA’s two largest loan programs, and permanent increases in the maximum loan sizes for major SBA programs.

An SBA Fact Sheet on these proposals is available at: http://bit.ly/SmallBizWorkingCapital

SOURCE: U.S. Small Business Administration
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Sens. Klobuchar and Franken Join Call for Help to Small Businesses; Letter to Treasury Secretary Tim Geithner Signed by 18 Democratic Senators

This week, Sens. Amy Klobuchar [D-Minn.] and Al Franken [D-Minn., pictured] joined 16 of their colleagues to call on U.S. Treasury Secretary Timothy Geithner to take immediate steps to utilize TARP funding to stabilize community banks and improve credit availability for small businesses.

“The American economy won’t recover until our small businesses recover,” said Sen. Klobuchar. “Small businesses are the engines that drive job creation in this country. Opening up credit and expanding into new markets will spur economic growth and strengthen our economy.”

“Credit for small businesses is crucial to the American economy and essential for getting us out of this recession,” said Sen. Franken. “Minnesota businesses shouldn’t continue to suffer because banks on Wall Street are unable to manage their balance sheets.”

Joining Sens. Klobuchar and Franken in sending the letter were Senators Patty Murray [D-Wash.], Patrick Leahy [D-Vt.], Carl Levin [D-Mich.], Jeff Bingaman [D-N.M.], Tom Harkin [D-Iowa], Barbara Mikulski [D-Md.], Herb Kohl [D-Wisc.], Tim Johnson [D-S.D.], Bill Nelson [D-Fla.], Debbie Stabenow [D-Mich.], Maria Cantwell [D-Wash.], Ben Cardin [D-Md.], Sherrod Brown [D-Ohio], Jean Shaheen [D-N.H.], Jeff Merkley [D-Ore.], and Rolland Burris [D-Ill.].

Following, is the full text of the letter sent to Secretary Geithner:

* * *

February 3, 2010

The Honorable Timothy Geithner
Secretary
Department of the Treasury
1500 Pennsylvania Avenue, NW
Washington, D.C. 20220

Dear Secretary Geithner:

We write today to express our deep and growing concern about the deteriorating condition of community banks and the lack of credit availability for small businesses across the United States.

Community banks play a significant role in providing credit to businesses in communities throughout the country. They provide approximately one third of all loans under $1 million and half of all loans under $100,000.

Despite the return to profitability for most of the large, Wall Street banks that received the lion’s share of public assistance under Troubled Asset Relief Program [TARP], the survival of hundreds of small, community banks remains in question. With considerable exposure to future losses on loans tied to real estate markets -- both residential and commercial -- we call on you to take immediate steps to dedicate more attention and resources from TARP to stabilize this critically important segment of the banking industry.

According to data provided by the Federal Deposit Insurance Corporation [FDIC], 148 banks have failed since 2008. These failures impose significant costs on the Deposit Insurance Fund [DIF] and have far-reaching economic ramifications on the communities and businesses they serve.

The continued existence and steady growth of hundreds of billions of dollars in non-performing loans is placing further strain on banks across the country; 552 institutions were on FDIC’s “Problem List” as of the agency’s publication of its Quarterly Banking Profile for the Third Quarter of 2009.

This ominous overhang of impaired assets is necessitating that banks restrict lending and build capital to protect against further losses. Indeed, according to data released by the Federal Reserve, credit has continued to contract since 2008. The tight credit environment -- particularly impacting households and small businesses -- continues to undermine the effect of aggressive monetary and fiscal policies put in place to accelerate economic recovery and job growth.

Small businesses remain the real engine behind job growth in the U.S.; over the past 15 years, over 64 percent of all new jobs were created by small businesses. However, under the weight of the economic recession and significantly reduced consumer demand, many small businesses have been forced to adjust their cost structure, including eliminating jobs. With credit-card lines and other forms of revolving credit being cut, those businesses that are trying to maintain their workforce are finding it increasingly difficult -- and, in some cases, impossible -- to access the liquidity they need to weather through this downturn.

Although recent economic indicators show the economy is slowly beginning to stabilize, small businesses continue to suffer. This is a key underpinning to the weak labor market and creating a drag on our efforts to more quickly reduce real unemployment, which remains above 10 percent. To help establish real, sustainable economic recovery, we must take new, decisive action that addresses the trend of declining credit availability head-on. Failure to do so may result in a heightened risk of a prolonged economic downturn similar to that experienced by Japan through the 1990’s.

Existing programs created by the Treasury to address the plight of community banks and improve credit to small businesses have unfortunately had little impact to-date. Therefore, we have developed new approaches that can improve existing programs to strengthen community banks and have put forth a number of new proposals to improve the availability of credit for small businesses. We strongly believe these ideas provide new strategies and opportunities to take precious taxpayer resources away from programs that have largely benefitted the Wall Street firms that bear a great deal of responsibility in bringing about the financial and economic crisis, and redirect them to programs that can help bring back jobs and restore prosperity in our communities.

Strong, decisive action must be taken immediately to reassess the full range of options where public resources, including TARP, can better help address the economic crisis and strain being felt by American families and businesses on Main Street. We look forward to working together with you in this effort, because it is integral to establishing the foundation necessary to support a swift and sustained economic recovery to the future.

Sincerely,

Senators Patty Murray [D-WA], Patrick Leahy [D-VT], Carl Levin [D-MI], Jeff Bingaman [D-NM], Tom Harkin [D-IA], Barbara Mikulski [D-MD], Herb Kohl [D-WI], Tim Johnson [D-SD], Bill Nelson [D-FL], Debbie Stabenow [D-MI], Maria Cantwell [D-WA], Ben Cardin [D-MD], Sherrod Brown [D-OH], Amy Klobuchar [D-MN], Jean Shaheen [D-NH], Jeff Merkley [D-OR], Rolland Burris [D-IL], and Al Franken [D-MN].

SOURCES: FinancialStability.gov, Sen. Al Franken
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President Obama Proposes Strong Budget for Small Business; Increases SBA Funding by More Than 20 Percent

Yesterday, U.S. Senate Committee on Small Business and Entrepreneurship Chair Mary L. Landrieu [D-La., pictured] praised the Small Business Administration [SBA] components of President Barack Obama’s budget proposal. For the second year in a row, the President has proposed increasing funding for the SBA and its programs, taking decisive steps to rebuild the SBA after eight years of cuts.

The request proposes to increase funding to the agency by $170 million from last year’s enacted level, to $994 million. This, along with new small-business, job-creating proposals the President outlined in his State of the Union address last week, show the Obama Administration’s strong support for small businesses.

"By requesting more money to help our small businesses succeed," said Sen. Landrieu, "President Obama’s budget proposal emphasizes that small business remains a top priority for the Administration, and is central to the President’s efforts to create jobs.

"As part of his budget, the President again showed his support for increasing the caps on small-business loans as a way to provide small businesses with immediate capital to grow and hire workers. This is a proposal I, along with Ranking Member Olympia Snowe [R-Maine], introduced last year. It has since gained even more bipartisan support, and passed the committee. It is my hope the proposal will be included in any job-creating measure introduced in the Senate."

President Obama’s proposed budget:

Expands Access to Capital
* Supports the increase of the maximum 7[a] loan size from $2 million to $5 million, 504 loans from $1.5 million to $5.5 million, and microloans from $35,000 to $50,000. Sen. Landrieu introduced, and the committee passed, legislation that matches these increases;

* Supports more than $28 billion in small-business financing -- including $17.5 billion for the 7[a] loan guarantee program; $7.5 billion for the 504 loan guarantee program; and $3 billion for the Small Business Investment Company [SBIC] program, which provides venture capital financing to small firms;

* Supports $25 million in microloans, allowing intermediaries to provide small loans to entrepreneurs and start-ups; and

* Provides $5.9 million for the SBA’s international trade and export promotion programs, allowing the agency to support more than $1.1 billion in capital to small exporters and maintain their network of 18 export finance specialists.

Supports Counseling and Contracting Programs
* Provides $113 million to support about 900 Small Business Development Centers [SBDCs];

* Provides $14 million to support about 100 Women’s Business Centers [WBCs];

* Provides $7 million to support about 370 chapters of SCORE, a mentoring program involving retired executives;

* Provides $2.2 million for the Historically Underutilized Business Zones [HUBZones] program, which creates incentives for contracting with small firms to create jobs in underserved communities;

* Provides $3.4 million for the 7[j] technical assistance program, which provides small disadvantaged businesses with training in financing, business development, management, accounting and marketing;

* Provides $3 million to increase the reach of Emerging Leaders. Graduates of this program -- often in distressed areas -- have reported significant increases in revenues, government contracts, local hires, and access to financing; and

* Provides $11 million to support the job growth potential found in regional clusters of businesses. These clusters will involve public-private partnerships, which align federal resources with existing regional strengths and economic growth opportunities.

Provides Help for Those Hit by a Disaster
* Supports $1.1 billion in direct disaster-assistance loans, in line with the 10-year average;

* Includes a legislative proposal that would extend, from three to seven years -- the maximum term for businesses that want an SBA disaster loan, but have an existing line of credit with a bank or have enough cash on hand where they could get a conventional loan from non-SBA sources; and

* Requests $203 million to support for administrative expenses for the disaster program -- an increase of $126 million from last year’s enacted level. These funds are critical in supporting SBA’s effort to efficiently and effectively service its $8.4 billion active loan portfolio.

Reduces Risk and Increases Oversight
* Provides $2 million to strengthen lender oversight and on-site reviews, to ensure taxpayer dollars are going to those who need help the most;

* Provides $4 million to improve oversight of government contracting programs, including the HUBZone program, and to strengthen performance assessment and management of the Small Business Innovation Research [SBIR] program; and

* Provides $1.1 million to evaluate the SBA’s loan, counseling and other programs to optimize effectiveness.

"While this budget request shows the President’s strong dedication to small businesses, I will work to increase funding for critical counseling programs, and to restore funding for the Federal and State Technology Partnership program [FAST]," Landrieu added. "The FAST program increases small-business innovation opportunities, and is vital for the growth of rural areas. The program received funding last year for the first time since 2004, and must not disappear."

SOURCES: Library of Congress, U.S. Senate Committee on Small Business and Entrepreneurship, U.S. Small Business Administration
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Healthcare Overhaul Could Save Money and Boost Jobs, Researchers Say

Health insurance reform will do more than provide coverage to millions, make health insurance more affordable, and slow long-term growth. It will also create jobs. According to two new studies, reform will slow cost increases for businesses, and free up money for raises and new jobs.

Following is an excerpt from a story by Duke Helfand, published in today's "Los Angeles Times":

“National healthcare legislation in Congress could slow the growth of medical costs, allowing employers to create 250,000 to 400,000 new jobs a year over the next decade, economists from Harvard University and USC are predicting.

"Wading into the hotly debated issue of whether the legislation is a job creator or a job killer, researchers from the two universities say that the reforms under consideration would slow the rate of cost increases and free up money for companies to raise wages and hire more workers.

"Specifically, healthcare savings could be achieved through proposals for greater competition in insurance markets, better coordination of care and shrinking administrative expenses, they said in a report to be released today. With those changes, employers could then reallocate money now spent on ever-growing premiums to other business priorities.”

To read the full story, go to: http://bit.ly/HealthcareOverhaul

GoodBiz113 Tools
* President Obama's Plan for Health Insurance Reform: http://www.whitehouse.gov/issues/health-care

* President Obama’s Weekly Address, "Health Insurance Reform, Small Business and Your Questions" [07/24/2009]: http://bit.ly/WeeklyHealthReformSmallBiz

* Health Insurance Reform Reality Check: http://bit.ly/HealthReformRealityCheck

* How Health Insurance Reform Will Help Small Business: http://bit.ly/SmallBizHealthReform

* Video: "Health Reform Will Benefit Small Business -- Not Burden It": http://bit.ly/RealityCheckSmallBizVideo

* Report: "The Economic Case for Health Care Reform": http://bit.ly/EconomicCase

* Report: "Helping the Bottom Line: Health Reform and Small Business": http://bit.ly/HelpingTheBottomLine

* Report: "Insurance at Risk: Small Business Employees Risk Losing Coverage": http://bit.ly/InsuranceAtRisk

* Report: "Lower Premiums, Stronger Businesses: How Health Insurance Reform Will Bring Down Costs for Small Businesses": http://bit.ly/StrongerBusinesses

* Report: "The Economic Effects of Health Care Reform on Small Businesses and Their Employees": http://bit.ly/EconomicEffects

SOURCES: Council of Economic Advisers, HealthReform.gov, Los Angeles Times, WhiteHouse.gov
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