AB 1632 the Small Business Bill is signed by the Governor- Letter To Advocate for Research on Bank Lending

In previous emails I said that a trailer bill was part of the budget package. I indicated that it needed to be signed by the Governor.

See email from Toni Symonds indicating the Governor has signed the bill. Besides providing lending for almost $250 million it will provide $6 million for SBDCs. Tony worked hard on this bill and I think you should take a few seconds and send an email and thank Tony and the JEDE Committee members.

SB Cal will have a representative at the Oct 26 meeting.

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Dear JEDE Friends:

According to the Governor's legislative staff, the Governor has signed AB 1632 the Small Business Act that includes $33 million for small business finance and technical assistance. We don't have a chapter number yet, but JEDE was emailed that the bill was signed.

All Members of the JEDE Committee voted in support of this bill. As you may recall, this bill was a recommendation from the Speaker's Economic Recovery and Jobs Task Force that was lead by Assemblymen V. Manuel Perez and Mike Feuer. In developing the recommendation, the Task Force met with small business leaders, the SBA and the Treasurer's Office. JEDE's work on business issues was also used as a foundation to the discussions and recommendations. The Speaker, in considering the recommendations from the Task Force convened a Small Business Roundtable in August 2010.

It is expect this $33 million will leverage millions of federal dollars and assistance for our small businesses. Attached is more information about the programs funded in the bill.

Thank you for all your efforts. See you on October 26, 2010 to discuss implementation.

Toni and Mercedes
Toni E. Symonds
Chief Consultant
California State Assembly Committee on Jobs,
Economic Development, and the Economy
California State Capitol
Sacramento, California 95814
(916) 319-2090
toni.symonds@asm.ca.gov

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Yesterday I sent a letter to Winslow Sargeant SBA Office of Advocacy along with 15 sample emails from you of the problems you are having with banks. I wrote supporting the SBA Office of the Advocate do research on what banks are doing to small businesses. We need this so we will not be talking anecdotally. The study would be similar to what Jere Glover a past Advocate did a number of years ago.

Scott Hauge
President
Small Business California
2311 Taraval Street
San Francisco, CA 94116
shauge@cal-insure.com
415-680-2188