See story below.
This bill includes money to continue the 90% guarantee on 7a and 504 SBA loans and the waiver of fees on these loans. The Senate passed the bill earlier so we just need the Presidents signature.
As you will recall the stimulus money ran out in November and SBA loans immediately dropped like a rock.The additional money should be enough to cover SBA small business loans until February and between now and then we hope to pass S2869 in the Senate and 4203 in the House for funding through the fiscal year.
Senators Feinstein and Boxer are coauthoring the Senate bill due in large part to SB Cal efforts and 13 Associations including the National Association of Government Guaranteed Lenders, the National Small Business Association and our affiliate members CALTEL,Plumbing Heating and Cooling Contractors of California and our soon to be affiliate member the Northern California Retail Booksellers Association. We also received significant help from Jim Baird owner of Bay Area Development.
We will start looking for cosponsors in the House and have 20 associations that will be signing the letter we will be writing. If you have a relationship with a House member please let me know and I will forward to you our letter.
Saturday, December 19, 2009
Senate Approves Defense Bill, Moves Ahead on Health Care
December 19, 2009, 8:33 A.M.
The Senate voted 88-10 in favor of a $636 billion Defense appropriations bill early Saturday morning, clearing the way for consideration of a final health care measure that Democratic sources say is on pace to pass before Christmas Day. Full Story
Scott Hauge
President
Small Business California
2311 Taraval Street
San Francisco, CA 94116
shauge@cal-insure.com
415-680-2188
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