Bipartisan Landrieu-Cochran-Wicker Legislation Gives Disaster Relief to Hard-Hit Gulf Coast Small Businesses

Senate Committee on Small Business and Entrepreneurship Chair Mary L. Landrieu [D-La., pictured] -- along with Sens. Thad Cochran [R-Miss.] and Roger Wicker [R-Miss.] -- just introduced a bill that provides financial relief to as many as 11,000 businesses in Louisiana, Mississippi, Alabama and Texas.

These small businesses are still rebuilding after Hurricanes Katrina, Rita, Gustav and Ike. With this bipartisan legislation, they have the potential to create or save up to 40,000 jobs.

"The small businesses in these hard-hit areas have not survived just one disaster, but three: Hurricanes Katrina and Rita in 2005; Hurricanes Gustav and Ike in 2008; and, last year, the Deepwater Horizon [oil spill] disaster," said Sen. Landrieu. "These valuable, pioneer businesses took the initiative to quickly reopen after the storms, and gave communities the confidence to come home. If residents see their local gas station or their favorite restaurant open, they are more likely to come back to rebuild their homes -- spurring economic growth in these devastated areas.

"As we approach the sixth anniversary of Hurricanes Katrina and Rita, we must ensure that these pioneers can make it past this anniversary. This legislation will help these businesses not just survive, but grow and hire workers."

"The economic recovery, both on the Gulf Coast and nationally, has been stubbornly slow," said Cochran. "Easing the federal loan burden on small businesses that quickly rebuilt after successive hurricanes should help with job creation. I support this legislation as a worthwhile tool to continue rejuvenating the economy of Southern Mississippi and the Gulf Coast region."

"Gulf Coast small businesses and entrepreneurs continue to recover from Hurricane Katrina and the devastation caused by last year’s oil spill," said Wicker. "Economic opportunities created by this legislation would provide an important boost at a critical time for the entire region."

The Southeast Hurricanes Small Business Disaster Relief Act of 2011 would give the Small Business Administration [SBA] the authority to waive up to $15,000 of the interest payments for businesses in Louisiana, Mississippi, Alabama and Texas over three years. The SBA is required to give priority to applications with the following credentials:

* Businesses with 50 employees or fewer;

* Businesses affected by Hurricanes Katrina and Rita, that reopened between September 2005 and October 2006;

* Businesses affected by Hurricanes Gustav and Ike, that reopened between September 2008 and January 2009; and/or

* Businesses that suffered substantial economic injury from the Deepwater Horizon disaster

Representative Cedric Richmond [D-La.] will be introducing the House companion bill. Last Congress, a similar proposal received support from the U.S. Chamber of Commerce, the U.S. Conference of Mayors, the New York Times, the Times Picayune, and other Gulf Coast groups.

Applications for the program would not be accepted after March 31, 2012.

GoodBiz113's Take
Once again, Sen. Landrieu is leading an impressive bipartisan initiative to serve the far-reaching interests of small businesses. Entrepreneurs of all political stripes are fortunate that she's doing so.

Hopefully, Congress will act swiftly to pass the Senate and House versions of this legislation, so that Gulf Coast small-business owners can focus on growing their enterprises -- and the U.S. economy.

SOURCES: U.S. Senate Committee on Small Business and Entrepreneurship, Wikipedia
____________________

New Waterproofing Guide Helps You Protect Your Home Office From Flooding Damage ^AF

Social Artist-Entrepreneur George Rodrigue and His 'Save the Gulf' Sculpture Featured in New Orleans Times-Picayune

Today, GoodBiz113 profilee George Rodrigue ["Louisiana Artist Brings Post-Katrina [Blue Dog] Relief to New Orleans"] made the front page of the East Jefferson section of the New Orleans Times-Picayune -- along with his new "Save the Gulf" sculpture, featuring the iconic Blue Dog himself.

Check it out at George's Facebook page: http://bit.ly/SaveTheGulf. Oh, and please be sure to leave a comment for our favorite socially conscious artist :)

For the latest events and good deeds happening via his far-reaching George Rodrigue Foundation of the Arts [GRFA], visit http://bit.ly/RodrigueFoundation.

SOURCE: George Rodrigue Studio
____________________

Check Out George Rodrigue's Best-Selling Book, "Blue Dog Speaks"! [Amazon.com affiliate link]

Rodrigue Releases Timely 'Emerald Coast' Silkscreen

News reports abound about the BP oil-spill disaster drifting along the Gulf Coast toward Florida's historically pristine beaches. Some sources speculate that the slick could hit shore within days, while others hold that it'll be weeks before the oily mess reaches the Sunshine State.

Meanwhile, GoodBiz113 profilee George Rodrigue ["Louisiana Artist Brings Post-Katrina [Blue Dog] Relief to New Orleans"], who's not exactly new to facing catastrophes head-on, has just released a piece to simultaneously remind folks of brighter, cleaner and safer days past -- and to subtly warn us about seemingly imminent environmental, economic and health threats.

"The Emerald Coast" [pictured above], an original silkscreen measuring 16x38, is available in a signed and numbered edition of 90. Prints are priced at $1,800, and will likely be available for shipment during the week of July 1.

Glimpse Rodrigue's new work at Rodrigue's Facebook page, and please be sure to leave a comment for our favorite artist-philanthropist-activist-entrepreneur: http://bit.ly/EmeraldCoast.

For the latest events and good deeds happening via the far-reaching George Rodrigue Foundation of the Arts: Youth Development Through Art in Education [GRFA], visit http://bit.ly/RodrigueFoundation.

If you're a small-business owner in need of disaster assistance, the U.S. Small Business Administration [SBA] has resources available: http://bit.ly/DisasterHelpSBA.

SOURCE: George Rodrigue Studio
____________________

Get George Rodrigue's Best-Selling "Why Is Blue Dog Blue?" for Your Favorite Young Person. Ages 4-8. [Amazon.com affiliate link]

SBA Proposes Higher Surety Bond Guarantees to Help Small Businesses Secure Larger Contracts in Disaster Areas

This morning, the U.S. Small Business Administration announced that it has proposed changes -- including higher surety bond guarantee limits -- that will help construction and service-sector firms secure larger contracts for work in areas impacted by disasters; e.g, BP's Gulf Coast oil-spill disaster.

The proposed changes, which were published as part of a Proposed Rule in the Federal Register on April 26, include:

* For a non-federal contract or order up to $5 million, a bond guarantee may be issued if the products will be manufactured, or the services are performed, in the disaster area.

* For a federal contract or order up to $5 million, the performance site can be outside the disaster area if the contract or order will directly assist the disaster-recovery efforts.

* For a federal contract or order, the amount of the guarantee can be as much as $10 million at the request of the head of an agency that is involved in reconstruction efforts.

"These proposed changes are one more way we can help small businesses -- particularly in the construction and service sectors -- compete for and win critical contracting opportunities that help them grow their business and create jobs," said SBA Administrator Karen Mills [pictured]. "Additionally, these proposals would help spur economic growth and recovery in areas that have been hard-hit by disasters, bringing jobs and economic activity to a region at a time when it is needed most."

The proposed changes are related to the Small Business Disaster Response and Loan Improvements Act of 2008, which increases the eligible amount for contracts or orders related to a major disaster area. These proposals build on increases to surety bond guarantees made possible under the American Recovery and Reinvestment Act of 2009. The major disaster areas are identified on the Federal Emergency Management Agency website: http://www.fema.gov/.

Generally, the increased amounts would apply during the 12 months following the disaster declaration, unless SBA provides for an extension related to a particular disaster.

In addition to the disaster-related proposals, the Proposed Rule clarifies SBA’s position that it does not cover any costs related to insurance or indemnification requirements that may be contained in the bonded contract. It specifically excludes from the losses covered by SBA any costs that arise from the principal’s failure to secure and maintain insurance that result from any claims or judgments that exceed the amount of insurance coverage, and that arise from an agreement by the principal to indemnify the contractor or any other persons.

SBA partners with the surety industry to help small businesses that would otherwise be unable to obtain bonding in the traditional commercial marketplace. Under the partnership, SBA provides a guarantee to the participating surety company of between 70 and 90 percent of the bond amount.

Through its Surety Bond Guarantee Program, SBA also helps owners by guaranteeing bid, payment and performance bonds to protect the project owner against financial loss if a contractor defaults or fails to perform.

The Proposed Rule is available for public inspection at the Federal Register: http://bit.ly/ProposedRuleDisasters.

Comments on these proposed changes must be received on or before May 26, 2010, and can be submitted at http://www.regulations.gov/, or mailed or hand-delivered to Office of Surety Guarantees, Suite 8600, 409 Third Street SW, Washington, DC 20416. SBA will post all comments on http://www.regulations.gov/.

SBA assistance in locating a participating surety company or agent, and completing application forms, is available online. For more information on SBA’s Surety Bond Guarantee Program, including Surety Office contacts, go online to http://www.sba.gov/osg/, or call 1-800-U-ASK-SBA.

SOURCES: Library of Congress, U.S. Small Business Administration
____________________

PayPal Is the Safer, Easier Way to Make a Payment or Set Up a Merchant Account. Get Your FREE Premier Business Account Now.

Landrieu Letter to SBA: Support Small-Business Owners Impacted By Oil-Spill Disaster

Yesterday, United States Senator Mary L. Landrieu [D-La., pictured], chair of the Senate Committee on Small Business and Entrepreneurship, sent the following letter to Karen Mills, administrator of the Small Business Administration [SBA], in support of small-business owners who may be impacted by the BP oil-spill disaster in the Gulf of Mexico.

* * *

April 30, 2010

The Honorable Karen G. Mills
Administrator
Small Business Administration
409 Third Street, S.W.
Washington, D.C. 20416

Re: Disaster Loans and Financial Relief for Small Businesses Impacted by the April 20th Deepwater Horizon Oil Spill

Dear Administrator Mills:

I write to urge the Small Business Administration [SBA] to make available as soon as possible SBA disaster loans and all other SBA assistance to small businesses in Louisiana impacted by the oil spill. This request is strongly supported by the Governor of Louisiana and other state leaders. In anticipation of a declaration, I ask that the SBA organize a lending briefing on the coast of Louisiana for the fishermen and other impacted businesses, and to coordinate with other federal agencies -- including the Department of Commerce [Commerce] and the U.S. Department of Agriculture [USDA] -- to make the recovery process as easy as possible.

As you know, a significant portion of my state’s businesses rely on the Gulf for their livelihoods, from shrimpers and oystermen to restaurants, processing plants, and shipping companies. With an estimated 5,000 barrels of oil a day spewing from the blown-out well underneath the Deepwater Horizon rig, it is urgent that SBA coordinate with the other agencies to assess the impact of the oil spill, issue the necessary declarations for businesses to access disaster loans, and make it as easy as possible for the harmed businesses to determine which agency will help them and how to apply.

Of particular concern is coordination between the SBA and USDA. In recent years -- for example, when Red Tide struck coastal communities in New England -- businesses have fallen through the cracks because SBA and USDA have not had clear policies about whether a fishing or shellfish entity is a business or a farmer, and therefore whether it is eligible for assistance through the SBA or the USDA. And, when it was eligible for assistance through the USDA, the assistance was more limited.

Following the 2005 and 2008 hurricanes, many Gulf Coast businesses also were deemed "too agricultural" for SBA and "not agricultural" enough for USDA, leaving them without sufficient disaster recovery assistance. I ask that you personally make sure that this process runs smoothly.

I also strongly support the State’s request to temporarily defer loan repayments for Louisiana coastal businesses that are impacted by the oil spill and have existing disaster loans, and am ready to help in any way to make that possible. To complement those deferrals, I ask for your support for legislation I have that would forgive a portion of the interest on outstanding disaster loans for businesses that are still struggling as Louisiana continues down the long road to recovery from the devastation of hurricanes Katrina, Rita, Ike and Gustav.

More specifically, S. 2986, the Southeast Hurricanes Small Business Disaster Relief Act of 2010, would create a program to waive up to $15,000 of interest on 2005 and 2008 small-business disaster loans. It would be available over a three-year period and have the effect of significantly lowering the monthly payments owed by small businesses, so that they would have needed capital to keep operating and retain employees.

Thank you, in advance, for your prompt cooperation on these requests. I look forward to working with you to make federal emergency assistance available as soon as possible to the businesses in my state.

Sincerely,

Mary L. Landrieu
Chair
U.S. Senate Committee on Small Business and Entrepreneurship

SOURCES: GovTrack, U.S. Senate Committee on Small Business and Entrepreneurship
____________________

Infusionsoft Is the Only Software That GUARANTEES to DOUBLE YOUR SALES. Get a FREE 15-DAY TRIAL to Email Marketing 2.0 Now.