Wednesday, December 30, 2009

SBA Loans and Jobs Bill

Great news. The House will be passing 2 bills this week. Department of Defense appropriations will include $125 million for SBA loan programs to continue the stimulus thru February 2010.

They will also pass a Jobs bill that has $354 million to continue stimulus for the balance of the fiscal year.

It appears the Senate will pass the Defense bill by Dec 23 and then the SBA can continue making stimulus loans. The Senate will then pass the Jobs bill when they come back in January.
Small Business California, the National Small Business Association along with the 504 lenders association[NADCO] and the National Association of Government Guaranteed Lenders have been very instrumental in getting this done. We will continue to push the passage of S 2869 which also deals with SBA and would increase the 7a loan size to $5 million.

Speaking of S2869 SB Cal has been working hard to get Senators Boxer and Feinstein to coauthor. We received word yesterday that Senator Boxer has filed the papers to add her to the bill. We have been told by Senator Feinstein’s office that she is looking at this and we anxiously await her response.

Thank you Senator Boxer.

Senator Feinstein has been added as a co-sponsor of S. 2869 (12/16/09)

Yesterday at the request of Small Business California the SF Board of Supervisors passed a resolution asking the Senate and the House to support increased funding for SBA loans. I want to thank the President of the Board David Chiu for introducing this and Regina Dick Endrissi the Executive Director of the Small Business Commission for making this happen.

(December 16, 2009)

Scott Hauge
Small Business California
2311 Taraval Street
San Francisco, CA 94116

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