A surprise occurred Friday in that HR4213 passed the House after looking dead Thursday.
While funding of the SBA program to waive fees and extend the 90% guarantee on 7a and 504 loans is a very small piece of the bill it is critical for small business and its ability to access capital. The bill started as a $200 billion measure it got passed as a $113 billion measure.
Unfortuately the Senate did not take up 4213 as they were in recess so funding has run out for the waiver and the guarantee. Hopefully it will get taken up quickly when the Senators return but it is no sure thing it can get the 60 votes needed for passage.
I found the results of the question on Prop 16 interesting. This is the PG&E measure that would require a two thirds vote for Community Aggregation/Public Power. The Small Manufacturers Association of California supports the Measure and the Golden Gate Business Association opposes. Most associations that responded did not have a position.
What was more interesting is that of the 25 individuals that responded only two supported and 22 opposed with one undecided. This certainly is not a large enough number to make any conclusions but I was surprised how lopsided it was.
One would think that small business would be opposed to government getting into any business but it seems as though the two thirds vote is perceived by many as wrong.
Lets try one more time. If you didn’t respond what is your position on Prop 16?
Small Business California
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San Francisco, CA 94116