Showing posts with label veterans. Show all posts
Showing posts with label veterans. Show all posts

Thursday, May 12, 2011

SBA Announces 15 Appointments to Advisory Council on Underserved Communities

Fifteen individuals from across the country have been appointed to the U.S. Small Business Administration’s [SBA] Council on Underserved Communities [CUC].

Building on SBA’s core programs and Recovery initiatives, the CUC will provide input, advice and recommendations on strategies to help strengthen competitiveness and sustainability for small businesses in underserved communities. These strategies will be focused on increasing entrepreneurship and technical assistance; creating new, and strengthening existing, outreach and training; and raising awareness in underserved communities of SBA programs and services.

The CUC is chaired by Catherine Hughes [pictured], founder and chairperson of Radio One and TV One, and will have 20 members who represent a diverse range of backgrounds and geographic areas.

"One of SBA’s core missions is to support small businesses in traditionally underserved communities -- including minorities, women, veterans, people with disabilities, and in rural areas," said SBA Deputy Administrator Marie Johns. "The Council on Underserved Communities will provide valuable insight and advice into how we can ensure that small businesses in these communities throughout the country have access to the tools they need to grow, create jobs and win the future."

The CUC’s first meeting will be held in July, in Washington, DC. Before the first meeting, members of the CUC will hold listening sessions in their regions to hear from small-business owners and members of the community about what they need from the SBA.

"Thirty years ago, I grew my business with the help of an SBA loan," said Hughes. "Now, I’m so pleased to be chairing the Council on Underserved Communities, and help entrepreneurs in communities across the country take advantage of those same opportunities for success."

The CUC is part of the SBA’s ongoing efforts to expand its reach into underserved communities. While the nation’s economic recovery is moving forward, that recovery has been uneven --particularly for socially, economically and geographically disadvantaged small-business owners. To help SBA better address the challenges facing small-business owners, the CUC will meet regularly and advise SBA on ways to increase access to capital, and promote sustainability, growth, and job creation.

The 15 Newly Appointed Members of the SBA's New Council on Underserved Communities:
* Dr. Hassell McClellan is an associate professor and former associate dean of Boston College’s Carroll School of Management. He has previously worked in corporate banking with Harris Trust in Chicago and as a faculty member at the Harvard Business School. McClellan’s specialties include strategic management and global competitiveness. He is the author of several case studies, as well as a book on the banking industry, "Managing One-Bank Holding Companies."

* Dasil "Das" Elius Velez is currently serving as a senior executive in New York Governor Andrew M. Cuomo’s administration with the Empire State Development Corporation, as the executive director of Minority and Women Business Development. Prior to Velez’s appointment, he served as senior advisor to Gov. David A. Paterson. He has also held a number of executive positions in public service sector and was a founding partner of Carro, Velez, Carro and Mitchell LLP, which became New York City's largest Latino law firm.

* B. Doyle Mitchell Jr. serves as president and CEO of Industrial Bank in Washington, D.C. Mitchell is chairman of the National Bankers Association and the D.C. Chamber of Commerce Foundation. He serves as a board member for the Greater Prince George’s Business Roundtable, the Council for Court Excellence, the Minbanc Foundation and the Sewell Music Conservatory.

* Eric Collins, COO of Mobile Posse in McLean, Va., is a veteran of the mobile software industry. Prior to his work at Mobile Posse, Collins led the Tegic business unit for Nuance Communications. Eric also headed marketing for Nuance’s Mobile Division. Following law school, Eric worked as a strategy consultant for technology and entertainment companies before launching a career in mobile technology at AOL.

* Derek S. Hyra is an associate professor of Urban Affairs and Planning at Virginia Tech. His research focuses on inner-city economic development, with an emphasis on national housing policy, urban politics, affordable housing and small-business finance, poverty, and race. Hyra previously worked at the U.S. Department of the Treasury, assessing affordable housing and small-business lending programs; and at the U.S. Department of Housing and Urban Development, examining the community-level impact of national urban legislation. He currently serves as the vice chairman of the board of commissioners for the Alexandria Redevelopment and Housing Authority.

* Ron Busby Sr. is president of the United States Black Chamber of Commerce Inc. Prior to coming to Washington, D.C., he was the president of the Greater Phoenix Black Chamber of Commerce, and served as the president of the 100 Black Men of the Bay Area [Oakland, Cal.]. Recognized as one of the country’s best CEOs, Busby grew his first business, USA Super Clean, from $150,000 annual revenue to over $15 million per year. He has served as co-chair of the XLII Super Bowl Host Committee and on the board of directors of the Arizona Governor’s African American Leadership Council.

* Dr. Randy Blass is a faculty member of The Jim Moran Institute for Global Entrepreneurship, and the program director for the Entrepreneurship Bootcamp for Veterans with Disabilities [EBV] Program -- all within the College of Business at Florida State University. Before joining the faculty at Florida State, he served as a lieutenant colonel in the U.S. Air Force. Blass specializes in power and influence in organizations, organizational socialization, and human resource management, and has more than 25 years of practical experience in designing and implementing training and development programs.

* Ned Fawaz, the founder and CEO of Energy International Corporation, is responsible for the expansion in worldwide business, including tactical and strategic sales. Beginning his career over 32 years ago, Dr. Fawaz has an extensive background in international business, and in the mechanical and electrical engineering and equipment industry. He studied mechanical engineering at York Institute in York, Penn., and worked for 10 years for York International. He was awarded an honorary doctorate degree [LLD] from Davenport University of Michigan, served in the U.S. Army, and was stationed in Germany for two years.

* Eddie Reyes serves as the historically underutilized business coordinator for the University of North Texas. Reyes was selected by the SBA as the 2010 National Minority Small Business Champion the Year. Reyes also serves as the chairman of the board of directors, Greater Grand Prairie Hispanic Chamber of Commerce.

* LeeAnn Marker is a business advisor for Hutchinson Credit Union and a small-business owner. As a commercial lender in a Kansas community with a population of approximately 45,000, Hutchinson has experienced first-hand the challenges facing America’s small businesses in today’s uncertain economic environment.

* Roni K. Wisdom is CFO for the San Luis Valley Development Resources Group, a nonprofit regional economic development organization that provides funding and counseling to small businesses, nonprofits and local governments. Wisdom previously worked as a manager and owner of small businesses, a business banker, and a small-business counselor. She spent much of her past 30 years in the banking field, with most of those years in "nontraditional" financing in the rural counties of Colorado.

* Hilda Kennedy serves as founder/executive director, AmPac Tri State Certified Development Company in Grand Terrace, Cal. -- a certified lender for the SBA’s 504 loan program and the first faith-based CDC in the country. Kennedy previously worked in local government in the city of Inglewood for more than 12 years as chief of staff to the mayor and city administrator, public information officer, and economic development director.

* Rod Hsiao is director of strategic operations for BUILD, a nationally recognized nonprofit that uses entrepreneurship to excite and propel disengaged, low-income students through high school to college success. He worked in economic development research at Harvard and Yale, then served as a senior legislative advisor in the U.S. Congress on international development and domestic policies. He led two statewide studies for Maine and Massachusetts to assess the needs of their manufacturers, and recommended ways to spur innovation and economic competitiveness. Subsequently he worked in management consulting for SRI Consulting and A.T. Kearney before returning to the nonprofit sector as a COO to help lead nonprofits involved in teaching business and management skills.

* Hugh Short serves as president and CEO of Alaska Growth Capital. He is also the current chairman of the Alaska Industrial Development Authority [AIDEA], a one-billion-dollar, state-owned economic development agency based in Anchorage, Alaska. Additionally, Short serves as the current treasurer of the Alaska Humanities Forum and Pacific Northern Academy. Past leadership positions include roles as mayor and member of the city council for the city of Bethel; vice president of support services for Yukon Kuskokwim Health Corporation; and managing partner of the Subway of Bethel. Active in many community service roles, Short is a founding member of the Alaskan Native Leadership Network, and has served as director of Yuut Elinaurviat [People’s Learning Center], Big Brothers and Big Sisters, and the University of Alaska Fairbanks, Kuskokwim Campus.

* Marilyn Strickland was sworn-in as mayor of Tacoma, Wash., on Jan. 5, 2010, and previously served as a city council member for two years. Born in Seoul, Korea, Strickland grew up in South Tacoma and has been a downtown resident for over a decade. She is a graduate of the University of Washington and holds a master’s degree in business administration from Clark-Atlanta University. Strickland has professional experience in both the private and public sectors. She served as development officer for the Tacoma Public Library, and has held management positions with the American Cancer Society, Starbucks Coffee Company and JayRay Communications, where she worked with Tacoma Public Utilities to help launch Click!Network. Strickland has been appointed to the U.S. Conference of Mayors Public Education Task Force. Active in the local community, she is a member of the Black Collective and previously served on the boards of KBTC Public TV Association, the Grand Cinema, and Safe Streets.

GoodBiz113's Take
SBA's formation of its CUC marks a significant step forward in sharing the wealth of small-business opportunities across diverse demographics.

Kudos to this highly impressive cadre of advisors for their willingness to serve for the greater entrepreneurial good.

SOURCE: U.S. Small Business Administration
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Wednesday, April 13, 2011

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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Friday, December 10, 2010

SBA Renews Popular Patriot Express Loan Initiative for Three More Years

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

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

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

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

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

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

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

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

SOURCE: U.S. Small Business Administration
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Monday, August 02, 2010

SBA’s Economic Recovery Efforts and Impact Top $29.4 Billion

The U.S. Small Business Association [SBA] 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 received an additional $305 million to continue several ARRA programs.

SBA Recovery Efforts -- Impact to Date
* SBA Has Supported More Than $29.4 Billion in Recovery Loans to Small Businesses: As of July 30, SBA had supported $29.4 billion-plus in small-business lending, with the approval of $22.1 billion in Recovery loans since Feb. 17, 2009. From ARRA's inception on Feb. 17, 2009, to July 30, 2010, weekly SBA loan-dollar volumes rose more than 90 percent in the 7[a] and 504 loan programs, compared to the weekly average before passage.

* Broad Support to Businesses: A significant share of Recovery loans have gone to rural [24 percent], minority-owned [21 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. Over the past 13 months, the average monthly loan volume settled from lenders to broker-dealers in the 7[a] secondary market has been $342 million, providing lenders with additional liquidity to increase lending.

* America's Recovery Capital [ARC] Loans Helping Small Businesses: As of July 30, SBA had approved 8,130 ARC loans -- totaling over $263.3 million by 1,278 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 -- plus 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, thus 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 [SBICs]; 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 more about how SBA and the Recovery Act are helping small businesses succeed throughout America, go to: http://bit.ly/SuccessStoriesSBA.

SOURCE: U.S. Small Business Administration
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Monday, July 05, 2010

SBA-Backed Loans to Small Businesses Top $29.3 Billion, Thanks to Recovery Act Funding

The U.S. Small Business Association [SBA] 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 received an additional $305 million to continue several ARRA programs.

SBA Recovery Efforts -- Impact to Date
* SBA Has Supported More Than $29.3 Billion in Recovery Loans to Small Businesses: As of July 2, SBA had supported $29.3 billion-plus in small-business lending, with the approval of $22 billion in Recovery loans since Feb. 17. From Feb. 17, 2009, to July 2, 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 June 25, 2010, more than 1,363 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 [21 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. Over the past 13 months, the average monthly loan volume settled from lenders to broker-dealers in the 7[a] secondary market has been $342 million, providing lenders with additional liquidity to increase lending.

* America's Recovery Capital [ARC] Loans Helping Small Businesses: As of July 2, SBA had approved 7,925 ARC loans -- totaling over $256.6 million by 1,268 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, plus 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, thus 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 [SBICs]; 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 more about how SBA and the Recovery Act are helping small businesses succeed throughout America, go to: http://bit.ly/SuccessStoriesSBA.

SOURCE: U.S. Small Business Administration
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Thursday, July 01, 2010

SBA’s Patriot Express Pilot Loan Initiative Delivers Nearly $500 Million to 6,000 Veterans, Military Community

In just three years’ time, the U.S. Small Business Administration’s Patriot Express Pilot Loan Initiative has supported nearly $500 million in Patriot Express loans to small businesses owned and operated by veterans, reservists and their spouses.

Patriot Express loans, which can be used to start or expand a small business, increased over the past two years due in part to the American Recovery and Reinvestment Act [ARRA], which raised loan guarantees to 90 percent, and temporarily eliminated fees for borrowers on all SBA loans. To date, more than 6,000 loans have been made.

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

"America’s veterans have the leadership skills and experience to become successful entrepreneurs and small-business owners," said SBA Administrator Karen Mills [pictured]. "As we celebrate Independence Day, we renew our commitment to more than 26 million veterans and service members across the country -- including the thousands returning from Iraq and Afghanistan. The Patriot Express initiative, in conjunction with other SBA programs, puts more capital and more tools in the hands of veterans as they grow their businesses and create the jobs America needs."

Patriot Express is a streamlined loan product based on the agency’s highly successful SBA Express Program, but with an enhanced guaranty and interest rate. Patriot Express loans are offered by SBA’s network of participating lenders nationwide, and features one of SBA’s fastest turnaround times for loan approvals. Patriot Express loans are available for up to $500,000.

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

Patriot Express is available to military community members -- including veterans; service-disabled veterans; active-duty service members participating in the military’s Transition Assistance Program; National Guard and Reservist members; current spouses of any of the above; and the widowed spouse of a service member or veteran who died during service, or of a service-connected disability.

The average Patriot Express loan amount is almost $82,000; nearly 15 percent of those loans have gone to military spouses. After a loan application is approved by a commercial lender, it is submitted to SBA for approval. Most applications are approved by SBA within 24 hours.

Additionally, SBA has entered an agreement with six major universities to expand and deliver entrepreneurship training for service-disabled veterans of the wars in Iraq and Afghanistan, in a program called Entrepreneurship Bootcamp for Veterans with Disabilities [EBV]. For more information go to http://bit.ly/WhitmanEBV.

SBA also offers business counseling through veterans’ business development officers in district offices in every state and territory, to provide access to SBA’s range of programs and services. SBA recently expanded the Veterans Business Outreach Centers to 16 locations. They're listed at http://bit.ly/VetsBiz.

In addition to district offices, SBA’s resource partners -- including SCORE, Counselors to America’s Small Business, an expanded Small Business Development Center program for veterans, and Women’s Business Centers [WBCs] -- provide local and online assistance with: writing a business plan, financing options to start or grow your business, managing the business, expanding the business, and selling goods and services to the federal government.

The agency, along with other federal agencies, recently entered a joint agreement to help Native American/Alaska Native veteran-owned businesses with an entrepreneurship education program at the Tuck School of Business at Dartmouth.

For those who are already small-business owners and who expect call-up, the SBA and its resource partners can help with preparing their businesses before deployment, managing their businesses, selling goods and services to the government, obtaining other SBA financing and financial assistance, and obtaining loans for economic injury via Military Reserve Economic Injury Disaster Loans [MREIDL]. Loans of up to $2 million are available for small businesses sustaining economic injury because an owner or essential employee has been called to active duty as a military reservist.

The SBA and its Office of Veterans Business Development [OVBD] provides comprehensive assistance, outreach and support to veterans. Each year, SBA helps more than 200,000 veterans, service-disabled veterans and reservists.

To learn more about additional opportunities for veterans available through the SBA, please visit http://bit.ly/VetBizDev.

SOURCE: U.S. Small Business Administration
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Monday, June 28, 2010

SBA Supports More Than $29.2 Billion in Recovery Loans to Small Businesses

The U.S. Small Business Administration [SBA] 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 $29.2 Billion in Recovery Loans to Small Businesses: As of June 25, SBA has supported $29.2 billion-plus in small-business lending, with the approval of $21.9 billion in Recovery loans since Feb. 17. From Feb. 17, 2009 to June 25, 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 June 25, 2010, more than 1,363 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 [21 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 May, the average monthly loan volume settled from lenders to broker-dealers in the 7[a] secondary market has been $330 million, providing lenders with additional liquidity to increase lending.

* America's Recovery Capital [ARC] Loans Helping Small Businesses: As of June 25, SBA has approved 7,871 ARC loans totaling over $254.8.5 million by 1,265 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, plus 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 [SBICs]; 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 more about how SBA and the Recovery Act are helping small businesses succeed throughout America, go to: http://bit.ly/SuccessStoriesSBA.

SOURCE: U.S. Small Business Administration
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Monday, June 14, 2010

SBA-Backed Lending Tops $29 Billion, Thanks to Recovery Act Funds

The U.S. Small Business Administration [SBA] 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 $29 Billion in Recovery Loans to Small Businesses: As of June 11, SBA had supported $29 billion-plus in small-business lending, with the approval of $21.7 billion in Recovery loans since Feb. 17. From Feb. 17, 2009 to June 11, 2010, weekly SBA loan dollar volumes rose more than 90 percent in the 7[a] and 504 loan programs, compared to the weekly average before passage.

* More Lenders Making Loans: From Feb. 17, 2009 to June 11, 2010, more than 1,354 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 May, the average monthly loan volume settled from lenders to broker-dealers in the 7[a] secondary market has been $330 million, providing lenders with additional liquidity to increase lending.

* America's Recovery Capital [ARC] Loans Helping Small Businesses: As of June 11, SBA had approved 7,776 ARC loans -- totaling over $251.7 million by 1,258 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, plus 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 [SBICs]; 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 more about how SBA and the Recovery Act are helping small businesses succeed throughout America, go to: http://bit.ly/SuccessStoriesSBA.

SOURCE: U.S. Small Business Administration
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Monday, June 07, 2010

SBA's Recovery Act-Related Small-Business Lending Tops $28.6 Billion

The U.S. Small Business Administration [SBA] 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 $28 Billion in Recovery Loans to Small Businesses: As of June 4, SBA had supported more than $28.6 billion in small-business lending, with the approval of $21.5 billion in Recovery loans since Feb. 17. From Feb. 17, 2009 to June 4, 2010, weekly SBA loan dollar volumes rose more than 90 percent in the 7[a] and 504 loan programs, compared to the weekly average before passage.

* More Lenders Making Loans: From Feb. 17, 2009 to May 28, 2010, more than 1,347 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 [21 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 May, the average monthly loan volume settled from lenders to broker-dealers in the 7[a] secondary market has been $330 million, providing lenders with additional liquidity to increase lending.

* America's Recovery Capital [ARC] Loans Helping Small Businesses: As of June 4, SBA has approved 7,711 ARC loans, totaling over $249 million by 1,255 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, plus 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 [SBICs]; 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 more about how SBA and the Recovery Act are helping small businesses succeed throughout the U.S., go to: http://bit.ly/SuccessStoriesSBA.

SOURCE: U.S. Small Business Administration
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Thursday, June 03, 2010

SBA Supports More Than $28.4 Billion in Small-Business Lending

The U.S. Small Business Administration [SBA] 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 received an additional $305 million to continue some ARRA programs through May.

SBA Recovery Efforts -- Impact to Date
* SBA Supports More Than $28 Billion in Recovery Loans to Small Businesses: As of May 28, SBA had supported $28.4 billion-plus in small-business lending, with the approval of $21.4 billion in Recovery loans since Feb. 17, 2009. From Feb. 17, 2009, to May 28, 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 28, 2010, more than 1,321 lenders who had not made a loan since at least 2007, made at least one 7[a] loan.

* Broad Support to Businesses: A significant share of Recovery loans have gone to rural [24 percent], minority-owned [21 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 May, the average monthly loan volume settled from lenders to broker-dealers in the 7[a] secondary market has been $330 million, providing lenders with additional liquidity to increase lending.

* America's Recovery Capital [ARC] Loans Helping Small Businesses: As of May 28, SBA has approved 7,658 ARC loans totaling more than $248 million by 1,250 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 -- plus 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 [SBICs]; 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 throughout the nation, go to: http://bit.ly/SuccessStoriesSBA.

SOURCE: U.S. Small Business Administration
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Monday, May 24, 2010

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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Friday, April 09, 2010

SBA Announces Changes to Small Business Procurement Scorecard Format

The U.S. Small Business Administration [SBA] just announced that it is revising the format of the annual Small Business Procurement Scorecard to provide more clarity and transparency on the federal government’s performance in meeting its small-business contracting goals. The revised scorecard will be based on an A through F letter grade system, as opposed to the previous red, yellow and green ratings.

"This revision to the Scorecard will provide greater clarity and transparency on how well each agency is doing in meeting its small-business prime contracting goals," said SBA Administrator Karen Mills [pictured]. "Federal contracts provide critical opportunities for small businesses to grow and create jobs. This revision builds on our ongoing efforts to strengthen the integrity of the overall process for small-business contracting, while also expanding opportunities for small businesses to compete for, and win, federal contracts.”

The revisions will appear when SBA issues its report later this year for federal contracting in fiscal year 2009. Over the past year, SBA has worked collaboratively with contracting and small-business officials to develop the new system. The revised methodology better reflects the unique needs of individual agencies, while maintaining a focus on achieving the statutory small-business contracting goals.

The overall small-business prime contracting goals have been established by Congress to ensure that small businesses get their fair share of federal contracts. The government-wide goal for prime contracts to small businesses is 23 percent of total qualified contract dollars -- with additional goals of five percent for small disadvantaged businesses [SDBs]; five percent for women-owned businesses [WOSBs]; three percent for HUBZone small businesses; and three percent for service-disabled veteran-owned small businesses [SDVOSBs].

SBA negotiates individual goals for each agency, while ensuring that, when combined, they meet the overall statutory goals for the federal government. SBA’s small-business procurement goal, for example, is 67.05 percent. While Scorecards will measure subcontracting activity, that information is not factored into the determination of whether the federal government meets the statutory small-business prime contracting goals.

The new Scorecard holistically assesses an agency’s entire small-business procurement performance. An agency’s overall grade will be comprised of three quantitative measures: prime contracts [80 percent], subcontracts [10 percent], and its progress plan for meeting goals [10 percent].

The letter grades for prime contracting and subcontracting will show an A+ for agencies that meet or exceed 120 percent of their goals; an A for those between 100 percent and 119 percent; a B for 90 to 99 percent; a C for 80 to 89 percent; a D for 70 to 79 percent; and an F for less than 70 percent.

In last year’s Scorecard rating performance for the FY 2008 contracting year, small businesses won 21.5 percent of contract dollars, or about $93.3 billion out of a small-business-eligible base of about $434 billion. More than half of all agencies met their individual goals. The small-business-eligible base for FY2009 was about $437 billion.

An example of the new Scorecard format can be accessed at http://bit.ly/NewProcurementScorecard.

About SBA
The U.S. Small Business Administration [SBA] was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small-business concerns, to preserve free competitive enterprise, and to maintain and strengthen the overall economy of our nation.

SBA recognizes that small business is critical to our economic recovery and strength -- to building America's future, and to helping the United States compete in today's global marketplace.

GoodBiz113's Take
Kudos to Administrator Mills and her team for overhauling SBA's Small Business Procurement Scorecard. From all appearances, the new system delivers more meaningful, at-a-glance information, and is infinitely superior to that used by the Bush administration -- which, despite its lip service to small businesses, was far more intent on awarding multibillion-dollar bundled contracts to its corporate buddies [e.g., Halliburton] than in helping small-business owners and entrepreneurs grow the U.S. economy.

Indeed, we've come a long way since Jan. 20, 2009. And things just keep getting better...

SOURCES: Acquisition Central, U.S. Small Business Administration
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Wednesday, March 31, 2010

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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Wednesday, September 02, 2009

SBA Offers Free Online Course on Winning Federal Contracts

The U.S. Small Business Administration [SBA] just launched a new online training course to help strengthen access to contracting opportunities for small businesses -- including those owned by women, minorities, disadvantaged individuals and veterans.

The free training program, "Recovery Act Opportunities: How to Win Federal Contracts," is part of a federal government-wide initiative announced last month by President Obama, and being led by SBA and the U.S. Department of Commerce.

"Government contracts can play a key role in helping small businesses turn the corner, in terms of expansion and job creation," said SBA Administrator Karen G. Mills [pictured]. "But make no mistake, the benefits the government receives are equally as impressive. Working with small businesses allows the federal government to work with some of the most innovative companies in America -- often with direct contact to the CEO.

"The SBA online training course can help businesses access the federal purchasing system, and position themselves to compete for the commercial opportunities offered by government contracting."

In announcing the government-wide initiative, President Obama reiterated his Administration’s commitment to providing "our Nation’s small businesses with maximum practicable opportunity to participate in federal government contracting."

As part of the initiative, federal agency procurement officers are participating in more than 200 events over the next several weeks to help connect small businesses with contracting opportunities. Additionally, SBA and Commerce are expanding their outreach to contracting officials across the federal government, to ensure they have the tools to meet their annual contracting goals and increase opportunities to small businesses -- including those owned by veterans, women and minorities, as well as those enterprises located in designated HUBZones.

As part of the outreach to small businesses, the comprehensive online course uses both audio and script to provide information about the federal marketplace, contract rules and, most importantly, how to sell to the government and where to find contract and Recovery Act-related opportunities.

The new training portal is a free online training course designed to assist entrepreneurs during this period of economic recovery. This self-paced instructional guide provides an overview of the federal procurement process.

The "Recovery Act Opportunities" course is available on SBA’s website: http://www.sba.gov/fedcontractingtraining. It's indexed by subject matter to allow ease of use, and includes multiple direct links that highlight the best contracting resources.

The course also includes practical and fundamental steps to engage small-business owners in the federal contracting process. It is one of more than 24 online tutorials offered by the SBA, and is available 24/7.

For more information, please visit SBA's website: http://www.sba.gov/.

SOURCES: U.S. Small Business Administration, The White House
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Monday, May 11, 2009

Verbatim: Leaders Advocate Small-Business Outreach, Lending, Health Care, Micro-Credit, Optimism and Passion

Periodically, GoodBiz113 presents diverse views on small business and entrepreneurship -- directly from those who help shape small-business policies and practices. Here's what some key influencers said last week.

“We’ve received very positive feedback from entrepreneurs throughout the state who have attended recent Small Business Committee outreach conferences... These events have helped Louisianians learn how to get SBA-backed loans, secure federal contracts, and create new jobs for Louisiana’s workers. I look forward to another successful outreach conference in Baton Rouge to help our local small business owners manage a business that will add new jobs for the state and help get our economy back on track.” -- Sen. Mary Landrieu [D-La.], chair of the U.S. Senate Committee on Small Business and Entrepreneurship, announcing that that the committee will host a Small Business Outreach Conference on Friday, May 15, from 10 a.m. to 2 p.m., at the Baton Rouge River Center in Baton Rouge, La., for small-business owners looking to utilize federal and state small-business assistance programs.

Sen. Landrieu's committee will work with the U.S. Small Business Administration [SBA] and Louisiana Economic Development [LED] to provide brief overviews of SBA lending programs, federal contracting opportunities, LED’s Small and Emerging Business Development Program, plus other programs to help small businesses maintain and grow their businesses in this tough economic climate. The committee held several similar outreach conferences in Lafayette, Lake Charles and Shreveport, La., and plans to hold additional outreach conferences throughout the state in the coming months. [May 4, U.S. Senate Committee on Small Business and Entrepreneurship]

* * *

"It's a bit of progress. Is it going to be sustainable? I don't know. The key is whether or not you can convince small businesses that now is the time to invest, given the historic low interest rates and fee reductions available through SBA financing." -- Kurt Chilcott, president of CDC Small Business Finance, a San Diego, Cal., lender of SBA-backed 504 loans. It approved $20.3 million in loans in April, up from $11.6 million in March. [May 5, The Wall Street Journal]

* * *

"Lack of access to affordable health-care coverage is a huge crisis for the small-business community in Maine and across the country. If we exclude action to address dysfunctional small group insurance markets from health-reform legislation, then we are going to leave 52 percent of the uninsured behind... The simple truth is that reform is going to require we realize savings – both to reduce the high burden of health-care costs and to enable us to assist those who truly need help to access care. We must not ignore promising measures such as SHOP, which can make fundamental improvement in coverage without increasing deficits. This is simply a common sense reform." -- Sen. Olympia Snowe [R-Maine], ranking member of the U.S. Senate Committee on Small Business and Entrepreneurship, and a member of the Senate Finance Committee.

In a May 5 roundtable discussion with the Senate Finance Committee, Sen. Snowe argued that limiting health-care coverage to firms with 10 or fewer employees will result in the failure to cover the 26 million uninsured Americans who work for firms with fewer than 100 employees. She is now moving to reintroduce the Small Business Health Options Program [aka SHOP Act], which permits small businesses and the self-employed to work together, across state lines, to secure affordable coverage and find ways to reduce administrative costs. [May 6, The Exception Magazine]

* * *

"To get out of this recession, we need to do all that we can to help established small businesses and prospective entrepreneurs succeed and create new jobs... Just as they have in the past, small firms promise the surest path to a recovery, and these initiatives give them the right tools and support they need to prosper." -- Rep. Nydia M. Velázquez [D-NY], chairwoman of the House Small Business Committee, during a committee hearing to examine a bipartisan legislative package that would update key entrepreneurial development programs within the SBA.

On May 6, Velázquez' committee reviewed a print of the Job Creation Through Entrepreneurship Act of 2009. If enacted, the legislation would mark the first overhaul of the SBA's entrepreneurial development programs in a decade. The measure expands specific programs, such as Small Business Development Centers [SBDCs], Women's Business Centers [WBCs] and the Service Corps of Retired Executives [SCORE]. The bill also creates new support programs for veteran-owned and Native American-owned small businesses; improves cross-program coordination to maximize use of program resources; and creates 21st century online learning initiatives for entrepreneurs. In addition, the bill creates a grant program for SBDCs, specifically designed to assist small firms in securing capital and credit. [May 7, U.S. House Committee on Small Business]

* * *

"Micro-credit has been one area where there has been no impact of the current banking crisis. It is still as robust as ever... The micro-credit system will play an important role in the recovery process, because people are losing jobs and the banks are not giving loans. The micro-credit system will help in creating self-employment by giving small loans, which in turn will help the economy." -- Professor Mohammad Yunus, an economist who won the 2006 Nobel Peace Prize 30 years after launching the innovative Grameen Bank project in Bangladesh in 1976.

In January 2008, the bank opened its first branch, Grameen America, in the Jackson Heights area of Queens in New York. In its first year, it lent a total of $1.5 million to more than 700 people to start small businesses or grow existing enterprises. [May 7, BBC News]

* * *

"The president made a commitment that we will stand behind the auto companies and workers... Clearly, the problems that we face, and the challenges that we face today, didn't occur overnight and they're not going to be solved overnight. We need to get the economy growing. We need to get people buying automobiles again." -- Ed Montgomery, President Barack Obama's Director of Recovery for Auto Communities and Workers, during a two-day swing through Michigan to listen to pleas for help from local officials and workers in cities stretching from Grand Rapids to Detroit. [May 8, Chicago Tribune]

* * *

"...I have little doubt that there will be various interests -- vocal and powerful -- who will oppose different aspects of this budget. Change is never easy. However, I believe that after an era of profound irresponsibility, Americans are ready to embrace the shared responsibilities we have to each other and to generations to come. They want to put old arguments and the divisions of the past behind us, put problem-solving ahead of point-scoring, and reconstruct an economy that is built on a solid new foundation. If we do that, America once again will teem with new industry and commerce, hum with the energy of new discoveries and inventions, and be a place where anyone with a good idea and the will to work can live their dreams..." -- President Barack Obama [pictured above, with Office of Management and Budget [OMB] Director Peter Orszag, left, and Deputy Director Robert Nabors], upon presenting his Budget of the United States Government for Fiscal Year 2010 to the 111th Congress. [May 8, Office of Management and Budget]

* * *

"Step by step, we are beginning to make progress. Of course, that is no solace for those who have lost their jobs, or to the small-business owners whose hearts break at letting longtime employees go." -- President Barack Obama, shortly after the government announced that the unemployment rate rose to a 25-year high of 8.9 percent in April. Labor Department figures show that 539,000 Americans lost their jobs last month, compared to more than 600,000 in March. [May 8, Voice of America]

* * *

"You will succeed, and your success will define you and the future of America... Passion is the driver of America's successful small businesses. It is the basis for our country's entrepreneurial spirit. And I strongly believe that this class has both an opportunity -- and a responsibility -- to discover and pursue your passion." -- SBA Administrator Karen G. Mills, addressing approximately 1,871 University of Maine Class of 2009 graduates at two ceremonies on Saturday, May 9.

Mills, whose career is characterized by notable successes in managing various kinds of businesses and in raising capital to support entrepreneurs, delivered an upbeat message for graduates entering the job market during difficult economic times. She pointed to passion as the defining characteristic of successful business owners, particularly in the context of small-business operations, and noted that small businesses are responsible for half of private-sector jobs and that they have created 70 percent of new jobs in the past decade. [May 9, The University of Maine]

SOURCES: BBC News, Chicago Tribune, Library of Congress, Office of Management and Budget, U.S. House Committee on Small Business, U.S. Senate Committee on Small Business and Entrepreneurship, U.S. Small Business Administration, The University of Maine, Voice of America, The Wall Street Journal, The White House
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