You all know about the SBA Jobs bill.
I am pleased to report that since September 27 to date the SBA has loaned $6.5 to 7 billion and they expect to be in the $9 billion range by the end of the year when the program will run out. This is $5 billion less than could have been loaned but by all accounts it has been a great success.
Please see below email I received from Senator Snowe's office. Small Business California had been pushing the SBA to meet the requirements of the 2007 energy bill. Actually it is worse than this in that they were also required to meet most of the 2007 provisions in the 2005 energy bill.
Thank you Senators Snowe and Kerry and keep pushing.
Small Business California
2311 Taraval Street
San Francisco, CA 94116
FOR IMMEDIATE RELEASE
CONTACT: John Gentzel (Snowe) 202.224.1304
Whitney Smith (Kerry) 202.224.4159
December 13, 2010
Snowe, Kerry Urge SBA to Fully Implement Critical 2007 Energy Independence Legislation
WASHINGTON, D.C. – U.S. Senate Committee on Small Business and Entrepreneurship Ranking Member Olympia J. Snowe (R-Maine) and former Chair John F. Kerry (D-Mass.) today sent a letter to Small Business Administration (SBA) Administrator Karen Mills requesting a response regarding the Agency’s progress in addressing 12 energy efficiency initiatives contained in P.L. 110-140, the Energy Independence and Security Act of 2007.
Signed into law in December 2007, the legislation contains a number of incentives to encourage small businesses to become more energy efficient, such as a venture capital program addressing the equity investment needs of small businesses, on-bill financing, the availability of energy efficiency audits, government-wide education programs, and additional technical assistance.
In their letter, Senators Snowe and Kerry urged the SBA to discuss program implementation, as well as describe obstacles the agency has encountered to fully implementing these measures. “It is frankly outrageous that the SBA has yet to fully implement the Energy Independence Act in the three years since it was signed into law,” said Senator Snowe.
“According to the SBA’s Office of Advocacy, small entrepreneurs are charged approximately 35 percent more per unit for their electricity than the sector average. Combined with the disproportionate tax and regulatory burden shouldered by small business and the lingering economic recession, the SBA’s delay in implementing these vital provisions puts our nation’s entrepreneurs at further disadvantage.
The SBA must utilize every resource to help foster an economic environment in which small businesses can simultaneously reduce energy cost and consumption while creating jobs and expanding operations.”“Small businesses are the backbone of our economy and they’re on the cutting edge of innovation in the energy sector,” said Senator Kerry. “There are countless more reasons we need to ensure that small businesses have the tools and incentives today to ensure their competitiveness tomorrow.”