SBA Introduces New Mobile Application for Small-Business Owners, Entrepreneurs

Smartphone users interested in starting or growing a small business can now find helpful resources at their fingertips via a new SBA mobile application from the U.S. Small Business Administration.

"Increasingly, smartphones are the vehicle through which Americans access information," said SBA Administrator Karen Mills. "This is certainly true of many entrepreneurs and small-business owners, and this new application ensures they will have access to SBA’s resources and programs -- literally, at their fingertips.

"Greater mobility fits with the new user-focused SBA.gov launched recently, and is another example of the steps we are taking to do a better job of connecting entrepreneurs and small-business owners with the tools to help them start or grow their businesses and create jobs."

Developed and donated as a gift by Palo Alto Software Inc., the SBA mobile app will make the search for extensive resources more efficient -- whether users are starting a new business, or taking an existing business to a new level. The app will first be available for the Apple iPhone®, with future versions for other smartphone platforms.

"Palo Alto Software’s mission is to help small businesses succeed," said Sabrina Parsons [pictured], CEO of Palo Alto Software. "We’ve developed this mobile application for the SBA because we understand the importance of having the right tools and resources when starting or growing a business.

"Ideas can strike entrepreneurs at any moment, and having useful resources available through mobile devices could be the impetus that begins the next big company."

The mobile app will help users connect with SBA district office staff and SBA-affiliated counselors and mentors who can provide free, personalized small-business assistance. The user-friendly format of the app will help answer questions such as: How do I start a business? Where can I go in my area to get free help with writing a business plan? And where do I begin finding funding for my business?

The SBA mobile app also features a built-in startup cost calculator to help estimate the costs associated with getting a business off the ground, plus an SBA partner locator to help users find SBA offices, Small Business Development Centers, Women’s Business Centers and SCORE.

Users will also have mobile access to SBA video content and social media alerts to provide them with tips on the go. This will include live updates from the SBA’s YouTube channel and from SBA’s Twitter feeds.

SBA's free mobile app can be downloaded from the agency’s website at http://1.usa.gov/MobileSBA.

SOURCES: Palo Alto Software Inc. [photo], U.S. Small Business Administration
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SBA Approves First Six Lenders to Start Making Community Advantage Loans to Small-Business Borrowers

The U.S. Small Business Administration has approved an initial group of six community-based, mission-focused lenders to start accepting and processing Community Advantage loan applications from small-business borrowers immediately, the agency announced today.

The new Community Advantage pilot program was announced by SBA in December, and is designed to expand access to lower-dollar loans and lending in traditionally underserved communities.

SBA and U.S. Department of Commerce studies have shown the importance of lower-dollar loans to small-business formation and growth in underserved communities. Even though SBA loans are three to five times more likely to go to women and minority-owned small businesses, underserved communities were hit disproportionately hard by the recession.

The pilot is specifically aimed at expanding points of access to capital for small-business owners by opening SBA’s 7[a] loan program to community-based, mission-focused financial institutions -- including Community Development Financial Institutions, SBA’s Certified Development Companies, and SBA’s nonprofit microlending intermediaries. Community Advantage leverages the experience these institutions already have in lending in economically challenged markets, along with their management and technical-assistance expertise to help make their borrowers successful.

"Working with these community-based, mission-focused lenders will greatly enhance our ability to bring much-needed financial backing to small businesses in underserved communities, which include minority-, women- and veteran-owned, as well as rural, businesses," said SBA Administrator Karen Mills [pictured]. "These businesses are among the hardest-hit by the recent economic downturn, and helping them to recover, expand and create jobs will strengthen both their local, and our nation’s, economy."

SBA began accepting applications from lenders on Feb. 15. The first Community Advantage approved lenders are:
* Central Texas CDC [CTCDC] dba BCL of Texas -- Austin, Tex.
* The Progress Fund -- Greensburg, Penn.
* Eastern Maine Development Corporation -- Bangor, Me.
* Idaho-Nevada Community Development Financial Institution -- Pocatello, Id.
* Kentucky Highlands Investment Corporation -- London, Ken.
* CDC Small Business Finance -- San Diego, Cal.

These lenders may begin making Community Advantage loans immediately. SBA will continue approving lenders on a rolling basis.

Expanding opportunities for entrepreneurs and small-business owners in underserved communities is core to SBA’s mission. As a result, all of SBA’s programs are having an impact in underserved communities.

In addition to the Community Advantage pilot program, in December, SBA announced the new Small Loan Advantage, which is open to the agency’s 630 existing Preferred Lenders.

Both Community Advantage and Small Loan Advantage offer a streamlined application process for SBA-guaranteed 7[a] loans up to $250,000. Advantage loans will come with the regular 7[a] government guarantee -- i.e., 85 percent for loans up to $150,000; and 75 percent for those loans greater than $150,000.

SOURCE: U.S. Small Business Administration
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President Obama, Vice President Biden, First Lady Michelle Obama and Dr. Jill Biden Launch Joining Forces Initiative to Support Military Families

Yesterday, President Barack Obama, Vice President Joe Biden, First Lady Michelle Obama and Dr. Jill Biden [pictured above, during official launch announcement] rolled out Joining Forces, an unprecedented national initiative to support and honor our military families.

"This campaign is about all of us, all of us joining together, as Americans, to give back to the extraordinary military families who serve and sacrifice so much, every day, so that we can live in freedom and security," said the First Lady.

Joining Forces aims to educate, challenge, and spark action from all sectors of our society -- citizens, communities, businesses, nonprofits, faith-based institutions, philanthropic organizations, and government -- to ensure that military families have the support that they have earned.

As part of Joining Forces, businesses and organizations -- including some of the best-known names and brands -- announced major new commitments to support military families in the areas of employment, education and public awareness.

To watch a video of the launch event, or read full remarks by President Obama, Vice President Biden, the First Lady and Dr. Biden, go here.

As the First Lady noted, "Our motto is simple: Everyone can do something."

Find out how you can get involved at JoiningForces.gov.

Resources for Veteran-Owned Small Businesses
To help do our part, GoodBiz113 offers up the following introductory list of resources available to current and would-be small businesses owned by veterans [VOSBs] and service-disabled veterans [SDVOSBs]:

* SBA/Office of Veterans Business Development

* SBA/Veteran-Owned and Service-Disabled Veteran-Owned Businesses

* SBA/Express and Pilot Loan Programs

* SBA/Veterans Business Outreach Centers

* Veterans Affairs/Starting a Small Business

* Veterans Affairs/Doing Business With VA

* Veterans Affairs/Office of Small and Disadvantaged Business Utilization

* Veterans Affairs/VetBiz.gov: The Center for Veterans Enterprise Web Portal

SOURCES: U.S. Department of Veterans Affairs, U.S. Small Business Administration, The White House [photo by Lawrence Jackson]
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SBA Announces Two New Initiatives to Boost Lending to Underserved Markets

While small-business owners and entrepreneurs in traditionally underserved communities continue to face challenges accessing capital, the U.S. Small Business Administration today announced two new initiatives aimed at increasing SBA-backed loans to small businesses in these markets.

SBA Administrator Karen Mills also today named Catherine L. Hughes [pictured], chairperson and founder of Radio One Inc. [NASDAQ: RAIO] -- and, in fact, a former SBA borrower -- to chair the agency’s new Advisory Council on Underserved Communities.

SBA and U.S. Department of Commerce studies have shown the importance of lower-dollar loans to small-business formation and growth in underserved communities.

With that in mind, the two new loan initiatives -- Small Loan Advantage, and Community Advantage -– are aimed at increasing the number of lower-dollar SBA 7[a] loans going to small businesses and entrepreneurs in underserved communities. The agency’s most popular loan product, 7[a] government-guaranteed loans, can be used for a variety of general business purposes -- including working capital, and purchases of equipment and real estate.

In conjunction with the implementation of these two new Advantage loan initiatives by March 15, the agency will end its existing Community Express pilot loan program on April 30.

"Over the last two years, we’ve seen lending to all small businesses tighten up, and that tightening has been even greater in traditionally underserved communities -- including among minorities, women and in rural areas," said Mills. "These new Advantage initiatives are aimed directly at getting more loans into these markets, so these small-business owners can get the capital they need to start or grow their business and create good-paying jobs in local communities across the country."

Built on what the agency refers to as its "Advantage" platform, both Small Loan Advantage and Community Advantage will offer a streamlined application process for SBA-guaranteed 7[a] loans up to $250,000. These loans will come with the regular 7[a] government guarantee; i.e., 85 percent for loans up to $150,000 and 75 percent for those greater than $150,000.

Small Loan Advantage will be available to the 630 financial institutions across the country in the agency’s Preferred Lenders Program [PLP]. Under PLP, which includes most of the agency’s highest-volume lenders, SBA delegates the final credit decisions to lenders.

With Community Advantage, the agency will expand the points of access that small-business owners have for getting loans by opening SBA’s 7[a] loan program to "mission-focused" financial institutions -- including Community Development Financial Institutions, Certified Development Companies and nonprofit microlending intermediaries.

Community Advantage will leverage the experience these institutions already have in lending to minority, women-owned and start-up companies in economically challenged markets -- along with their management and technical assistance expertise -- to help make their borrowers successful.

"These two new loan initiatives tackle a couple of factors we know exist when it comes to the challenges small-business owners face,” Mills noted. "First, to add more incentive for lower-dollar loans in these communities, we are providing a streamlined process for lenders along with the regular 7[a] government guarantee.

"Second, we are taking steps that will increase the number of places small-business owners in underserved communities can go to get loans. And also, with Community Advantage, we are making sure that the additional assistance some borrowers may need through counseling and technical assistance will be available."

Mills added that the new loan initiatives are in line with the agency’s core mission of supporting small-business growth and job creation, and goals of the new Advisory Council on Underserved Communities, announced today. The Council will provide input, advice and recommendations on how SBA, through its programs, can help strengthen competitiveness and sustainability for small businesses in underserved communities.

"Many entrepreneurs and small-business owners across the country have enormous potential to drive economic growth and create good-paying jobs in their local communities, but too often they face barriers in fulfilling that potential," said Hughes, who will chair the council.

A Nebraska native, Hughes began a career in radio in 1969 at KOWH, a small black-owned radio station in Omaha. She came to Washington, D.C., as a lecturer at Howard University’s School of Communications, and worked at several local radio stations before she and then her husband purchased a small D.C. station and turned it into Radio One. Later, Hughes bought out her husband and became sole owner -- at one point, moving into the station to make ends meet.

In January of 2004, Hughes launched TV One, a cable television channel targeted at the African American community. Today, Radio One owns 52 radio stations in major markets across the country, making the company the largest black-owned radio chain in the nation.

"I’m excited to be a part of this effort to strengthen the link between these entrepreneurs and the SBA’s wide variety of resources," Hughes said. "SBA assistance played a critical role in my success, and I’m eager to do all I can to help make sure others have access to these same opportunities."

The agency’s new Advisory Council on Underserved Communities will consist of 20 members from across the country. Over the next few weeks, the SBA will accept nominations for members to serve on the CUC.

Members will provide a critical link between SBA and small businesses in traditionally underserved communities. It is anticipated that members will reflect a variety of key sectors -- including business owners, banking and finance, community development, nonprofit and academia. Member nominations can be emailed to underservedcouncil@sba.gov.

Senator Landrieu Praises New SBA Programs
Sen. Mary L. Landrieu [D-La.], chair of the U.S. Senate Committee on Small Business and Entrepreneurship, today issued the following statement after the SBA announced its two new lending initiatives for underserved communities:

"Since the start of the financial crisis, we have seen credit lines completely shut off," said Landrieu. "As a result, small businesses in underserved areas of the country have had the hardest time obtaining adequate credit.

"The two new loan initiatives announced today have the potential to open up the credit lines to these struggling small businesses by streamlining the application process and increasing the number of lenders that entrepreneurs can choose from when obtaining a loan. By improving the access to credit in these areas, we would give these businesses in underserved communities the opportunity to boost our economy and create jobs.

"Furthering their commitment to increasing loans in underserved areas, the SBA’s Advisory Counsel on Underserved Communities provides the added support these businesses need to access SBA resources and take advantage of these lending programs.

"I look forward to working with the Council once they are assembled to energize small businesses in the most underserved areas of America."

GoodBiz113's Take
SBA's Karen Mills and her colleagues are clearly in touch with the plight of promising small-business owners whose dreams have been hamstrung for far too long by far too many cash-hoarding banks. The two programs announced today should prove to be a boon for small businesses, as well as for those banks that have have been reticent to lend money to them.

Further, the appointment of Catherine L. Hughes to chair SBA’s new Advisory Council on Underserved Communities is a welcome move to help spread the far-reaching wealth of entrepreneurship. Her solid business experience, success and leadership will likely benefit legions of current and would-be small-business owners.

SOURCES: U.S. Senate Committee on Small Business and Entrepreneurship, U.S. Small Business Administration
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SBA Finalizes Revisions of Size Standards to Expand Opportunities for Small Business

Today, the U.S. Small Business Administration published a package of revised size definitions for three broad commercial sectors affecting businesses in retail trades, accommodations and food services, and other services.

The changes were proposed on Oct. 21, 2009, and will broaden small-business eligibility, and help them gain access to SBA’s financial assistance, contracting and other programs. The agency estimates as many as 17,000 additional firms will become eligible for SBA programs as a result of the revised size standards.

"These increases in the size standards mean more of America’s small businesses will be eligible for, and can access, the resources and services the SBA and other federal agencies have available," said SBA Administrator Karen G. Mills [pictured]. "This comprehensive review is aimed at making sure the factors that determine eligibility are aligned with current economic and industry indicators, and ensure that small businesses across the country have the tools they need to drive economic growth and create jobs."

Last year, SBA began the process of reviewing and updating size standards based on industry-specific data. Before this comprehensive review, the last overall review of size standards occurred more than 25 years ago. Since then, most reviews of size standards have been limited to in-depth analyses of specific industries at the request of the public and federal agencies.

The SBA also makes periodic inflation adjustments to its dollar-denominated size standards. The latest inflation adjustment to size standards was published in the Federal Register on July 18, 2008.

Under provisions in the Small Business Jobs Act of 2010, SBA will continue its comprehensive review of all size standards for the next several years, as the law specifies.

The three final rules will affect the following industries:

Sector 44-45, Retail Trade [RIN: 3245-AF69]
In retail trade, a change in the new-car dealer industry from a revenue-based standard of $29 million in average annual receipts to an employee-based standard of 200 employees, will allow 5,700 additional new-car dealers to become eligible for small-business programs and services. Also, size standards were increased for 46 industries under retail trade. SBA estimates that more than 14,400 retail firms will become eligible for small-business programs and services.

Sector 72, Accommodation and Food Services [RIN: 3245-AF71]
Size standards were increased for five industries. SBA estimates 2,050 additional firms will become eligible for small-business programs and services.

Sector 81, Other Services [RIN: 3245-AF70]
Size standards were increased for 18 industries. SBA estimates more than 1,400 additional firms will become eligible for small-business programs and services.

For more information about SBA’s revisions to its small-business size standards, visit http://www.sba.gov/size and click on "What’s New."

SOURCES: Library of Congress, U.S. Small Business Administration
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SBA Loan Queue Cleared One Week After President Obama Signs Jobs Act

All of the loan applications placed in the U.S. Small Business Administration’s loan queue by small-business borrowers have received final approval, SBA Administrator Karen Mills announced today. The approvals, which were completed Monday, amount to 1,939 loans for nearly $970 million.

Final approval follows President Obama’s signing of the Small Business Jobs Act of 2010 on Sept. 27, which provided funding for the extension of increased guarantees and reduced fees in SBA’s two largest loan programs. Small-business owners have been waiting for additional funding and putting applications in the queue since the end of May, when authority for higher loan guarantees expired and, soon after, previous Recovery loan funding was exhausted.

Of the approvals in the queue, SBA approved more than $586 million through 1,273 new loans with funds provided by the Small Business Jobs Act, and 666 loans for more than $383 million with earlier funding that became available after cancellations of applications that had been approved previously under Recovery Act loan terms -- most, because they had been withdrawn by the applicants.

"Enhancements first made under the Recovery Act have made SBA-backed loans a key source of much-needed capital for tens of thousands of small-business owners, helping them not just keep their doors open, but also grow and create jobs all across the country," said Mills.

"Beginning in May, we saw the SBA loan queue begin to grow, which was evidence of both the continued need for these tools and the challenges small-business owners face in getting loans," Mills noted. "Within days of the President’s signature, the authority and the funding provided in the Small Business Jobs Act have allowed us to clear out our loan queue and begin getting capital in the hands of the more than 1,900 small-business owners who had been waiting -- some, for most of the summer."

Mills pointed out that the Small Business Jobs Act will support an estimated $14 billion in lending with only $505 million in taxpayer funds -- including many of the loans approved from the queue.

The loan enhancements for SBA-backed financing were key incentives in helping revive the availability of capital for small businesses after the credit crunch in late 2008 and early 2009. The increased guarantees and reduced fees in SBA’s two largest lending programs sparked a significant turnaround in SBA lending and have been instrumental in helping jump-start the economy for small businesses.

From the passage of the Recovery Act in February 2009 through the end of September, these incentives for borrowers and lenders helped support nearly $30 billion in SBA-backed loans to nearly 70,000 small businesses.

The SBA re-opened its loan queue in May, when funding for the incentives was nearly exhausted. Small-business loan applicants who wanted the benefits of the incentives could choose to place their loan in the queue to await funding from either an extension of the enhancements by Congress, or funds coming available as a result of cancellations of previously approved Recovery loans.

By the time President Obama signed the Small Business Jobs Act on Sept. 27, more than 1,400 "conditionally" approved small-business loan applications were in the queue’s waiting list -- with more than 500 more choosing to go into the queue by Oct. 1. With funds provided in the Small Business Jobs Act, SBA began making "final" approval of remaining loans in the queue on Oct. 1.

SOURCES: Library of Congress, U.S. Small Business Administration
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Recovery Loan Queue Activated as SBA Presses for Longer-Term Funding

U.S. Small Business Administration Administrator Karen Mills today issued the following statement regarding efforts to ensure continued funding for two key provisions first implemented as part of the American Reinvestment and Recovery Act [ARRA] of 2009:

"Two key enhancements to SBA’s loan programs -- increased guarantees and reduced fees in our two largest lending programs -- have engineered a significant turnaround in SBA lending, and have been successful in helping jump-start our economy for small businesses," said Mills. "To date, these programs have supported more than $27.5 billion in lending to more than 60,000 small businesses across the country. They have also brought more than 1,300 lenders back to SBA’s loan programs, increasing the points of access for small businesses to get the capital they have needed during these tough economic times.

"Due to the heavy demand from small businesses for available credit, the original $375 million provided under the ARRA for these loans was exhausted in November. Since then, additional funds have been provided for short-term extensions, and those funds, too, have been exhausted. As a result, today we communicated to our lending partners that we have reactivated the Recovery Loan Queue. The queue is an efficient and transparent way to ensure that every remaining dollar possible is made available to help small businesses drive economic recovery across the country.

"Small businesses are a key engine for job creation across the country. With that in mind, President Obama has laid out an aggressive agenda for providing small businesses with the tools they need to drive economic growth. A key piece of that agenda is a longer-term extension of these increased guarantees and reduced fees, and we urge Congress to move quickly to continue these critical programs."

SBA’s ARRA Programs
As part of the Recovery Act, enacted on Feb. 17, 2009, SBA received $730 million to help small businesses -- including $375 million to increase the SBA guarantee on 7[a] loans to 90 percent, and to reduce borrower fees on most 7[a] and 504 loans.

The funds for these programs were exhausted on Nov. 23, 2009, and an additional $125 million was provided in December. Those funds were exhausted in late February, and an additional $60 million was provided to extend the programs through March. SBA was authorized for an additional $40 million in late March, and an additional $80 million was provided in mid-April to support the programs through May 31.

SBA’s 7[a] and 504 ARRA Transition Plan
SBA has transitioned 7[a] and 504 programs back to their pre-ARRA terms and is communicating those plans with its lending partners. As part of this plan, SBA has reactivated its Recovery Loan Queue today. The queue will operate in the same manner as when originally implemented in November 2009.

Sometimes previously approved loans are later cancelled or never disbursed for a variety of reasons, and the funds committed to those loans can be applied to applications in the queue. The queue takes this into account and, beginning on the transition date, will allow eligible small businesses -- in consultation with their lenders -- to choose to be placed in the queue for possible approval for an ARRA loan if funding once again becomes available.

Small-business owners and lenders will have transparent access to the queue via www.sba.gov/recoveryq, and will be able to remove themselves from the queue at any time to be considered for a non-ARRA SBA loan with all applicable fees and, for 7[a] loans, standard guaranty levels. Authorization for the 90 percent guarantee on 7[a] loans ends on May 31, but the authorization for fee waivers is in place through September 2010.

To learn more about SBA’s ARRA programs and other resources for small businesses, visit www.sba.gov.

GoodBiz113's Take
This timely move by SBA should provide welcome reprieve for small-business owners, whose business-development efforts have been hamstrung by a lack of capital. Now, let's just hope that lenders fully participate in the Administration's practical, well-intentioned and unprecedented efforts to promote far-reaching small-biz growth.

SOURCE: U.S. Small Business Administration
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Vice President Biden Kicks Off Earth Day Activities; 25 Communities Selected for Recovery Act 'Retrofit Ramp-Up' Energy-Efficiency Awards

Today, Vice President Joe Biden [pictured] kicks off five days of Administration events around the 40th anniversary of Earth Day with the announcement of the selection of 25 communities for up to $452 million in Recovery Act funding to "ramp-up" energy-efficiency building retrofits.

Under the Department of Energy’s Retrofit Ramp-Up initiative, communities, governments, private-sector companies and nonprofit organizations will work together on pioneering and innovative programs for concentrated and broad-based retrofits of neighborhoods and towns -- and, eventually, entire states. These partnerships will support large-scale retrofits and make energy efficiency accessible to hundreds of thousands of homeowners and businesses.

During the next three years, the models created through this program are expected to save households and businesses about a $100 million annually in utility bills -- all while leveraging private-sector resources -- to create what funding recipients estimate at about 30,000 jobs across the country.

"For 40 years, Earth Day has focused on transforming the way we use energy and reducing our dependence on fossil fuel," said Vice President Biden. "But this year, because of the historic clean-energy investments in the Recovery Act, we're poised to make greater strides than ever in building a nationwide clean-energy economy. This investment in some of the most innovative energy-efficiency projects across the country will not only help homeowners and businesses make cost-cutting retrofit improvements, but also create jobs right here in America."

"This initiative will help overcome the barriers to making energy efficiency easy and accessible to all – inconvenience, lack of information, and lack of financing,” said Energy Secretary Dr. Steven Chu. "Block by block, neighborhood by neighborhood, we will make our communities more energy-efficient and help families save money. At the same time, we’ll create thousands of jobs and strengthen our economy."

In addition to the $452 million Recovery Act investment, the 25 projects announced today will leverage an estimated $2.8 billion from other sources over the next three years to retrofit hundreds of thousands of homes and businesses across the country. Overall, the program funding was eight times oversubscribed, with more than $3.5 billion in applications received for the just over $450 million in Recovery Act funds available, indicating significant demand for investment in energy-saving and job-creating projects like these nationwide.

Grantees will employ innovative financing models to make these savings accessible; e.g., by offering low- and no interest loans that are repaid through property tax and utility bills. In implementing these projects, grantees will deliver verified energy savings and incorporate sustainable business models, to ensure that buildings will continue to be retrofitted after Recovery Act funds are spent. The Department will use the lessons learned from these pilot programs to develop best-practice guides to comprehensive retrofit programs that can be adopted and implemented by other communities across the country.

The Retrofit Ramp-Up projects, which are part of the overall $80 billion Recovery Act investment in clean energy and energy efficiency, complement the Obama Administration’s "Recovery Through Retrofit" initiative, which lays the groundwork for a self-sustaining and robust home energy-efficiency industry. The awards are the competitive portion of DOE’s Energy Efficiency and Conservation Block Grant [EECBG] Program, which was funded for the first time under the Recovery Act to help state, local, and tribal communities make strategic investments in improving energy efficiency, and reducing energy use and fossil fuel emissions.

Secretary Chu, Interior Secretary Ken Salazar and Carol Browner, Assistant to the President for Energy and Climate Change, joined Vice President Biden today for the announcement, which was the first of more than two dozen events and activities Administration officials will participate in and around Earth Day.

In addition to today’s event, President Barack Obama will host an Earth Day reception with environmental leaders on Thursday, April 22; a video message from the President will air as part of events on the National Mall on Sunday, April 25; and Administration officials will participate in educational programs with school children, visit wetland and coastal restoration projects, and participate in community service projects as part of the President’s Earth Day call to action.

The events will highlight some of the ways in which the Administration is working to improve the environment, transform American infrastructure for greater energy efficiency, and build a clean-energy economy that supports the jobs of the future. As part of the events, Administration officials will also continue the push for Congress to act on HOMESTAR legislation and comprehensive energy and climate change legislation that will ultimately benefit individual homeowners and small businesses alike.

A full roster of Administration Earth Day activities is below, and more information on the President’s Earth Day call to action is available at www.WhiteHouse.gov/EarthDay.

RETROFIT RAMP-UP AWARDS
The following governments and nonprofit organizations have been selected for Retrofit Ramp-Up awards. These projects are planned to begin in fall 2010. Final award amounts are subject to negotiation:

* Austin, Texas -- $10 million
* Boulder County, Colorado -- $25 million
* Camden, New Jersey -- $5 million
* Chicago Metropolitan Agency for Planning -- $25 million
* Greater Cincinnati Energy Alliance, Ohio -- $17 million
* Greensboro, North Carolina -- $5 million
* Indianapolis, Indiana -- $10 million
* Kansas City, Missouri -- $20 million
* Los Angeles County, California -- $30 million
* Lowell, Massachusetts -- $5 million
* State of Maine -- $30 million
* State of Maryland -- $20 million
* State of Michigan -- $30 million
* State of Missouri - $5 million
* Omaha, Nebraska -- $10 million
* State of New Hampshire -- $10 million
* New York State Research and Development Authority -- $40 million
* Philadelphia, Pennsylvania -- $25 million
* Phoenix, Arizona -- $25 million
* Portland, Oregon -- $20 million
* San Antonio, Texas -- $10 million
* Seattle, Washington -- $20 million
* Southeast Energy Efficiency Alliance -- $20 million
* Toledo-Lucas County Port Authority, Ohio -- $15 million
* Wisconsin Energy Conservation Corporation -- $20 million

For more information on the selected projects, visit http://bit.ly/RetrofitProjects.

A map of the selected projects is available at http://bit.ly/RetrofitMap.

RETROFIT BY THE NUMBERS
* Residential and commercial buildings consume 40 percent of the energy and represent 40 percent of the carbon emissions in the United States. Building efficiency represents one of the easiest, most immediate and most cost-effective ways to reduce carbon emissions and save money on energy bills while creating new jobs.

* Existing techniques and technologies in energy-efficiency retrofitting can reduce energy use by up to 40 percent per home and lower total associated greenhouse gas emissions by up to 160 million metric tons annually.

* Residential and commercial retrofits also have the potential to cut energy bills by $40 billion annually.

ADMINISTRATION OFFICIAL EARTH DAY EVENTS AND ACTIVITIES
Carol Browner, Director of Energy and Climate Change Policy
Thursday, April 22 @ 12:00 p.m. ET -- Live Web Chat
Carol Browner was the administrator of the Environmental Protection Agency under President Bill Clinton [the longest ever to hold that post], and currently serves as Director of the Office of Energy and Climate Change Policy. Tune in to the White House website to learn more about President Obama's efforts to build a clean-energy economy and protect our environment: http://bit.ly/EarthDayLiveChat.

Interior Secretary Ken Salazar
Thursday, April 22 -- Washington, D.C.
Secretary Salazar will make remarks on the National Mall for Take a Child to Work/40th Anniversary Earth Day/Buddy the Bison Hike sponsored by the National Park Service. Five hundred local students will participate in the event.

Commerce Secretary Gary Locke
Wednesday, April 21 -- Washington, D.C.
Secretary Locke will deliver keynote remarks at the Creating Climate Wealth Summit at Georgetown University’s McDonough School of Business. He will address how energy reform can strengthen our security and spur economic growth.

Thursday, April 22 – Jersey City, N.J.
Secretary Locke will speak in Jersey City, N.J., at the Lincoln Park restoration project, that is turning a landfill into a healthy wetland. The National Oceanic and Atmospheric Administration [NOAA] funded this habitat restoration project through the American Recovery and Reinvestment Act [ARRA].

Labor Secretary Hilda Solis
Thursday, April 22 – Online Web chat
On Thursday, Secretary Hilda L. Solis will host an interactive Web chat to discuss issues and opportunities related to Earth Day. Also on Thursday, the Department of Labor will issue a report detailing opportunities made available over the past year -- including $490 million in Recovery Act funding for green jobs training.

Friday, April 23 – Washington, D.C.
On Friday, a Job Corps ceremony will honor a winning Job Corps Center for their green construction project.

Health and Human Services Secretary Kathleen Sebelius
Thursday, April 22 – Chicago, Ill.
Secretary Sebelius will hold an Earth Day health event with Housing and Urban Development Deputy Secretary Ron Sims at Roosevelt Gardens, a Chicago Housing Authority site.

Housing and Urban Development Secretary Shaun Donovan
Thursday, April 22 – Washington, D.C.
Secretary Donovan will deliver remarks at the Earth Day Network’s 40th Anniversary of Earth Day rally on the National Mall. There, he will highlight the President’s Earth Day call to action and HUD’s efforts to develop more sustainable, inclusive neighborhoods -- all while increasing green-job and green-housing opportunities for families across the country.

Transportation Secretary Ray LaHood
Thursday, April 22, Secretary LaHood – Chicago, Ill.
Secretary LaHood will attend an Earth Day event at Daley Plaza. The event includes a school climate video competition for participating school groups, and will have alternative-fuel vehicles on display.

Energy Secretary Steven Chu
Thursday, April 22 -- Washington, D.C.
Secretary Chu will speak at an Earth Day celebration for Department of Energy employees.

Friday, April 23 – Philadelphia, Pa.
Secretary Chu will hold a clean-energy event that focuses on the benefits of energy efficiency.

Education Secretary Arne Duncan
Thursday April 22 – Washington, D.C.
Secretary of Education Arne Duncan will deliver remarks at a ceremony commemorating the 40th anniversary of Earth Day at the National Mall in Washington. Secretary Duncan will discuss how education can play a role in developing a green economy.

Environmental Protection Agency Administrator Lisa Jackson
Wednesday, April 21 – Pittsburgh, Pa.
Administrator Jackson will be in Pittsburgh for an ENERGY STAR® event with children from the Sarah Heinz House Boys and Girls Club. This is a club that provides children and teenagers with strong role models and a safe, fun place to go after school, on weekends, and during the summer.

Thursday, April 22 -- New York City
The Administrator will participate in an urban-focused community service project with Green For All at the Grant Houses Community Garden in Manhattan. Administrator Jackson will take a tour of the garden, deliver remarks to press, students and volunteers, and participate in a planting activity with volunteers. The Administrator will also be a guest on "The Late Show with David Letterman" to talk about the 40th anniversary of Earth Day and President Obama’s clean-energy and green-jobs agenda.

Friday, April 23 through Sunday, April 25 -- Washington, D.C.
To commemorate the 40th anniversary of Earth Day, the EPA will be hosting a celebration event on Saturday and Sunday, April 24-25, on the National Mall. The event will feature a variety of interactive, family-friendly exhibits that highlight the work of the agency and celebrate its 40th anniversary this year. Administrator Jackson will appear on the National Mall on Friday to visit the Office of Research and Development’s P3 student participants and recognize winners. P3 is the next step beyond P2 -- pollution prevention -- and focuses on the three components of sustainability: people, prosperity, and the planet.

White House Council on Environmental Quality Chair Nancy Sutley
Sunday, April 25 – Washington, D.C.
Chair Sutley will deliver remarks at the Earth Day Network’s 40th Anniversary of Earth Day festivities on the National Mall. She will focus on the Obama Administration’s environmental agenda, and how the transition to a clean-energy economy can create millions of American jobs while reducing our dependence on foreign oil.

Acting Deputy Attorney General Gary Grindler
Thursday, April 22 – Washington, D.C.
The Acting Deputy Attorney General Gary Grindler will attend the Department of Justice’s Environment and Natural Resources Division’s [ENRD] Earth Day 2010 event on April 22 at Marvin Gaye Park, where it has held its annual Earth Day service celebration since 2004. In those five years, the Division has been able to help the park purchase over $7,500 worth of trees and landscaping materials as part of the park revitalization event. ENRD has also devoted over 2,500 hours of employee time to planting trees, removing trash, laying sod, and gardening.

Deputy Agriculture Secretary Kathleen Merrigan and Agriculture Undersecretary for Rural Development Dallas Tonsager
Friday April 23 – Sussex County, Del.
Deputy Agriculture Secretary Kathleen Merrigan will travel to Delaware on Friday to participate in a groundbreaking ceremony for a project that will modernize water quality and public sanitation services in Sussex County through the upgrading of the Inland Bays Wastewater Treatment Facility.

Friday April 23 – Woodland Park, Col.
Agriculture Undersecretary for Rural Development Dallas Tonsager will travel to Woodland Park, Col., where he will participate in an event marking the use of Recovery Act funds to improve drinking water quality in a subdivision.

Commerce Department Senior Officials
Earth Day Week
From April 17 through 23, the Commerce Department’s National Oceanic and Atmospheric Administration [NOAA] leadership is holding events at Recovery Act coastal restoration projects in eight states. The events will highlight job creation in Huntington Beach, Cal.; Cape Hatteras, N.C.; Seattle, Wash.; Muskegon Lake, Mich.; Grande Isle, La.; Maunalua Bay, Hawaii; Jersey City, N.J.; and Florida Keys, Fl.

Office of Science and Technology Policy Director John Holdren
Thursday April 22 – Berkeley, Cal.
Office of Science and Techology Policy [OSTP] Director John P. Holdren will be in Berkeley, Cal., where he will give a free, public, evening lecture on the topic of: "Science and Technology for Sustainable Well-Being: Priorities and Policies in the Obama Administration," to be held in Sibley Auditorium in the Bechtel Engineering Center at the University of California, Berkeley.

Dr. Holdren will also note that April 22 marks not only the 40th anniversary of Earth Day, but also the 15th anniversary of a federal program that embodies the central principles of Earth Day: the Global Learning & Observations to Benefit the Environment, or GLOBE, program. Tomorrow, OSTP will release a new report that affirms the many benefits of that environmental education program -- launched on Earth Day 1995 -- and lays out a map for future accomplishments.

GLOBE is just one element in an array of programs and activities being supported by the Administration in the domain of environmental science and education. For more details about GLOBE, visit http://www.globe.gov/.

Veterans Affairs Officials
Weeklong
Hospital directors and regional office directors will lead Earth Day events at VA health facilities across the country -- including Martinsburg, W.Va.; North Texas; Clarksburg, Va.; Saginaw, Mich.; Battle Creek, Mich.; San Diego, Cal.; Spokane, Wash.; Fresno, Cal.; Los Angeles, Cal.; Long Beach, Cal.; Reno, Nev.; Tucson, Ariz., Boise, Idaho; Menlo Park, Cal.; Palo Alto, Cal.; and Ft. Harrison, Mont.

Treasury Department Initiative
Earth Day Week
With Americans poised to celebrate the 40th anniversary of Earth Day this week, the U.S. Department of the Treasury announced a broad, new initiative to dramatically increase the number of electronic transactions that involve Treasury, plus millions of citizens and businesses -- a move that is expected to save more than $400 million and 12 million pounds of paper in the first five years alone. Treasury will also make an announcement about a change in the Department’s energy consumption that, when coupled with the move from paper to electronic transactions, will greatly reduce Treasury’s environmental impact.

NASA
Earth Day Week – Washington, D.C.
NASA's participation in the celebration of Earth Day's 40th anniversary on the National Mall in Washington began on Saturday, April 17. The agency's involvement includes nine consecutive days of activities and exhibits open to the public. The NASA Village, which contains three domed tents, will highlight the use of NASA science and technology to advance knowledge and awareness about our planet and sustain our environment.

GOODBIZ113'S TAKE
Thanks to President Obama's pivotal Recovery Act and his hand-picked Administration of innovative thought leaders and get-it-done men and women, America is finally beginning to turn the corner on far too many years -- eight, to be exact -- of environmental neglect.

With patience, pragmatism, and collaborative, can-do spirit and action, individuals, businesses, nonprofits and public agencies can sustainably prosper in this ecosystem called Earth.

Happy Earth Day, one and all!

SOURCES: Organizing for America, U.S. Department of Energy, The White House
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Sen. Landrieu: Economy Improving, But More Help Is Needed for America's Small Businesses

Late yesterday, just hours after the U.S. Department of Labor's Bureau of Labor Statistics announced that approximately 162,000 Americans were put back to work in the month of March, United States Senator Mary L. Landrieu [D-La., pictured], chair of the Senate Committee on Small Business and Entrepreneurship, issued the following statement:

"Last month, approximately 162,000 Americans were put back to work -- a sign that the measures Congress is taking to improve the economic climate are working," said Landrieu. "While I am encouraged by the number of jobs that were created, there is still much work to be done to support the nation's small businesses and those Americans still out of work.

"To build on the successful recovery loan initiatives -- higher guarantees and fee waivers on borrowers of Small Business Administration loans -- I urge my colleagues in the Senate to work to adopt the provisions coming out of the Small Business Committee. With small business accounting for 65 percent of all new jobs, these proposals are aimed at creating jobs and spurring small-business growth, and have passed this Committee with bipartisan support."

Sen. Landrieu has proposed five measures to be included in the next jobs bill to be debated on the Senate floor. The measures include:

* Small Business Job Creation and Access to Capital Act of 2009 [S. 2869]: Raises the cap on small-business loans to increase lending by $5 billion the first year, and refinances commercial real estate debt into long-term, fixed-rate loans -- provisions that are expected to be budget neutral and could create/save 200,000 jobs;

* Small Business Export Enhancement and International Trade Act of 2009 [S.2862]: Boosts small businesses’ exporting potential by improving access to loans, counseling programs and coordination of existing federal export assistance resources, while injecting more than $1 billion in capital for small businesses and saving/creating as many as 50,000 jobs;

* Small Business Contracting Revitalization Act of 2010 [S. 2989]: Removes the red tape and closes loopholes that too often put government work into the hands of multinational corporations instead of Main Street businesses. Increasing contracts to small businesses by just 1 percent can create more than 100,000 jobs;

* Small Business Community Partner Relief Act of 2010 [S. 3165]: Strengthens SBA women’s business and microloan programs to ensure they have the funds and manpower needed to be successful resource partners and help small-business owners get the assistance they need; and

* SBIR/STTR Reauthorization Act of 2009 [S. 1233]: Encourages small businesses to develop new technologies in fields from health care and defense, to clean energy. These competitive grants are the largest source of federal R&D funding for small, high-tech firms. Twenty-percent of SBIR participants say they started their company in part because of a prospective SBIR award, creating thousands of jobs.

This week, Sen. Landrieu sent a letter to her Senate colleagues requesting their support for this legislation. To view a copy of the letter, please go to: http://bit.ly/LandrieuLetterJobsBill.

Detailed information on each proposal can be found here: http://bit.ly/SmallBizJobCreation.

SOURCES: GovTrack.us, U.S. Senate Committee on Small Business & Entrepreneurship
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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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Landrieu Urges Applications for Broadband Internet Grants; Deadline to Apply for Grants Is March 15

United States Senate Committee on Small Business and Entrepreneurship Chair Mary L. Landrieu [D-La., pictured] today released two grant guides for small businesses interested in applying for the nearly $4 billion in American Recovery and Reinvestment Act [ARRA] grants to bring broadband Internet service to unserved, underserved and rural communities across the nation. Applications for this second round of Recovery Act funding for broadband infrastructure are being accepted through March 15, 2010.

"Louisiana businesses have received millions of dollars from the grant program to expand broadband Internet service," Sen. Landrieu said. "These funds are being put into the hands of businesses dedicated to expanding this advanced technology to some of the most rural parts of the country.

"Increasing access to broadband Internet service will help to bridge the technological divide between rural businesses and competing companies that have long benefitted from access to high-speed Internet service. I encourage small-business owners to apply for these competitive grants. This is an historic opportunity to both improve our communities and U.S. competitiveness."

In June of 2009, Sen. Landrieu sent a letter to Commerce Secretary Gary Locke, Department of Agriculture Secretary Tom Vilsack, and others supporting their efforts to expand access to broadband technology for the benefit of small businesses. In the same letter, Sen. Landrieu asked that priority be given to applications deploying broadband in unserved rural areas.

The senator has been a longtime advocate for the expansion of broadband technology, and co-sponsored the Broadband Data Improvement Act that became law in October 2008. The law encourages the deployment of high-speed Internet access to areas that need it most, and authorized the Small Business Administration’s Office of Advocacy to conduct a two-year report on broadband access and affordability for small businesses.

Sen. Landrieu's committee is monitoring the implementation of Recovery Act funding and the progress of the Advocacy report. In her June 2009 letter to Locke and Vilsack, Landrieu indicated that she plans to invite federal agencies before her committee to testify on the impact of Recovery Act broadband funds on small-business growth. To view a copy of that letter, go to: http://bit.ly/BroadbandLetter.

To view the guide for the U.S. Department of Commerce Broadband Technology Opportunity Program [BTOP], please go to: http://bit.ly/SenateSmallBizBTOP.

To view the guide for the U.S. Department of Agriculture’s Broadband Initiatives Program [BIP], visit: http://bit.ly/SenateSmallBizBIP.

SOURCES: GovTrack.us, Recovery.gov, U.S. Senate Committee on Small Business and Entrepreneurship
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SBA Secures Funding to Extend Recovery Act Loans; Agency Plans to Restart Recovery Loan Approvals by Dec. 28

President Obama signed the U.S. Department of Defense [DOD] appropriations bill on Saturday [Dec. 19], which included $125 million to continue through Feb. 28, 2010 -- the enhancements made possible through the American Recovery and Reinvestment Act [ARRA] to SBA’s two largest loan programs. The SBA estimates the additional funding will support $4.5 billion in small-business lending.

New approvals of loans with the higher guarantee and reduced fees made possible by ARRA are expected to begin by Dec. 28. Loan applications from borrowers who chose to be placed in the SBA’s Recovery Loan Queue will be funded first, followed by new loan approvals beginning on or before Dec. 28.

“This Administration and Congress recognize that these key programs were successful in helping jump-start the economic recovery for America’s small businesses,” said SBA Administrator Karen Mills. “The increased guarantee and reduced fees on SBA loans helped put more than $16.5 billion in the hands of small-business owners and brought more than 1,200 lenders back to SBA loan programs. The extension of these programs through February is important to continuing our path toward recovery, and will mean that thousands more small-business owners have access to the credit they need.

“Just two weeks ago, President Obama laid out key aspects of his jobs plan -- including significant ongoing support for small businesses. We will continue to work with Congress on moving those proposals forward -- including extending these loan enhancements as the President has called for, to ensure that small-business owners have the tools they need to drive economic growth and create jobs in communities all across the country.”

As part of ARRA, SBA received $730 million -- which included $375 million to increase the SBA guarantee on 7[a] loans to 90 percent, and to waive borrower fees on most 7[a] and 504 loans. The funds for these programs were exhausted on Nov. 23.

SBA created the Recovery Loan Queue as part of its transition back to pre-ARRA lending on Nov. 23, because previously approved loans are sometimes canceled or never disbursed for a variety of reasons. Eligible small businesses, in consultation with their lender, could choose to be placed in the queue for possible approval of an ARRA loan if funding became available. Currently, there are 1,069 loans totaling almost $530 million in the Recovery Loan Queue.

The extension included in the DOD bill authorizes the higher guarantee levels through Feb. 28, 2010. The fee relief is authorized until this additional funding is exhausted or the end of the fiscal year, whichever comes first. As was the case in November, SBA will transition into a queue system as the funds start to wind down, in order to ensure the maximum simulative effect of the programs and disbursement of funds.

For non-ARRA 7[a] or 504 loans funded during the transition period, this extension does not provide a retroactive guarantee or waived fees. Loans that were funded under non-ARRA terms cannot be canceled and resubmitted to take advantage of the ARRA extension provisions.

This extension does not affect other SBA ARRA programs -- including the America’s Recovery Capital [ARC] Loan Program, or the agency’s microloans. ARRA funding still remains for both of those programs.

SOURCES: Library of Congress, Recovery.gov, 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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Recovery Act Changes to SBIC Program Mean Increased Funding Available for Small Businesses

Effective today, small businesses that would otherwise have difficulty securing private equity or venture capital may find funding easier to get as a result of changes made as part of the American Recovery and Reinvestment Act to the U.S. Small Business Administration’s Small Business Investment Company program.

"The Recovery Act expands SBA’s venture capital program to increase the pool of investment funding available to the Small Business Investment Companies licensed by SBA," said SBA Administrator Karen G. Mills. "We believe those companies will be better equipped by these changes to help sustain and grow small businesses for their next important growth steps."

SBICs are privately owned and managed venture capital firms which are licensed and regulated by SBA. SBICs use a combination of funds raised from private sources and money raised through the use of SBA guarantees to make equity and mezzanine capital investments in small businesses. There are approximately 338 SBICs, with $17.4 billion in capital under management.

The changes made as part of the Recovery Act are:

* The Recovery Act makes SBICs eligible for greater SBA guaranteed funding, and requires SBICs to invest 25 percent of their investment dollars into "smaller" businesses. Also, the amount of funding an SBIC may invest in a single small business is set at 10 percent of an SBIC’s total capital, rather than the previous limit of 20 percent of an SBIC’s private capital only. This translates to an effective 50 percent increase in funding available to a single business by an SBIC.

* Maximum SBA funding levels to SBICs will increase up to three times the private capital raised by the SBIC -- up to a maximum of $150 million for single SBICs, or up to $225 million for multiple SBICs that are under common control.

* The cap for all licensees was set at $137.1 million before the Recovery Act.

* These limits are even higher for SBICs that are licensed after Oct. 1, 2009, which certify that at least 50 percent of their investments will be made in small businesses located in low-income areas -- up to $175 million for single licensees, and up to $250 million for jointly controlled multiple licensees.

* Changes made to the SBIC program under the Recovery Act are permanent.

Industry associations have commended SBA for these changes, and SBA continues to encourage new SBICs to apply for licensing and actively participate in the program.

The SBIC program was created to stimulate the growth of America’s small businesses by supplementing the long-term debt and private-equity capital available to them. Since the SBIC program’s formation in 1958, it has invested approximately $56 billion in more than 106,000 small businesses in the United States through April 2009.

For more information about the SBA’s Investment Division and SBIC program, go to http://www.sba.gov/INV; e-mail sbic@sba.gov; or, call 1-800-U-ASK-SBA.

SOURCES: Recovery.gov, U.S. Small Business Administration
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President Obama's First 100 Days Include $730 Million Jump-Start for America's Small Businesses

Today, as the nation marks President Barack Obama's first 100 days in office, small businesses can celebrate the strides that Obama has made on our behalf -- primarily, via the landmark American Recovery and Reinvestment Act of 2009 [Recovery Act], which he signed into law on Feb. 17, 2009. It is an unprecedented effort to jump-start America's economy; create or save millions of jobs; and put a down payment on addressing long-neglected challenges, so that our country can thrive in the 21st century.

The economic stimulus bill is an extraordinary response to a crisis unlike any since the Great Depression, and includes measures to modernize our nation's infrastructure; enhance energy independence; expand educational opportunities; preserve and improve affordable health care; provide tax relief; and protect those in greatest need.

Recovery Act Provides $730 Million to SBA
According to the U.S. Small Business Administration [SBA], the Recovery Act will have a significant impact on small businesses and on the credit crunch, providing tax incentives and financing opportunities that will help us create jobs.

The Recovery Act makes SBA part of the solution, providing it with specific tools to make it easier and less expensive for small businesses to get loans, give lenders new incentives to make more small business loans, and help unfreeze the secondary markets to boost liquidity in the credit markets.

More details on implementation will be coming during the next few weeks. For now, though, take note that the bill provides $730 million to SBA, and makes changes to the agency’s lending and investment programs so that they can reach more small businesses that need help.

The funding includes $375 million for temporarily eliminating fees on SBA-backed loans and raising SBA's guarantee percentage on some loans to 90 percent. The elimination of fees, announced on March 16, will remain in effect until the end of the calendar year or until the funding is exhausted. The elimination of fees is retroactive to the day the Recovery Act was signed into law.

Additional funding provisions include:

* $255 million for a new loan program to help small businesses meet existing debt payments

* $30 million for expanding SBA’s Microloan program -- enough to finance up to $50 million in new lending and $24 million in technical assistance grants to microlenders

* $20 million for technology systems to streamline SBA’s lending and oversight processes

* $15 million for expanding SBA’s Surety Bond Guarantee program

* $25 million for staffing up to meet demands for new programs

* $10 million for the SBA's Office of Inspector General

For more information about how SBA intends to implement Recovery Act funding, go to: http://www.sba.gov/recovery/information/index.html.

Next Steps
President Obama will conduct a prime-time news conference tonight on CBS, ABC, NBC, CNN, MSNBC and CNBC at 7 p.m. CST. In case you miss watching and/or recording the live event, CNN will rebroadcast the news conference at 12 a.m. CST.

TIME photographer Callie Shell has compiled a fascinating collection of photos depicting President Obama's first 100 days in the Oval Office. Several are published in the May 4 issue of TIME magazine. You can also view the entire photo essay online at http://time.com/100days.

SOURCES: U.S. Small Business Administration, White House
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