Please see below press release from the US Senate Committee on Small Business and Entrepreneurship indicating that the Committee approved a bill giving the SBA $955 million in FY 2012. See details below.
Last Friday Lori and I met with Mike Rossi the Economic Development Czar for Governor Brown. It was an extraordinary meeting and I left with the expectation that we have a real good friend who is a straight shooter and very interested in helping California Small businesses. I think I can safely say he is a no nonsense person and is looking for concrete ideas that are doable. He wants to help us with On Bill Financing and was interested in learning more about our proposal to permit unrestricted general solicitation for offerings up to $1 million annually as long as all of the
investors are accredited investors. This is sanctioned by the SEC under Rule 504 which requires a state enabling statute.
Small Business California is looking for ways to increase revenue. For those of you that are members thank you but we need more of you to join so that we can pay our lobbyist Lori Kammerer and cover our ongoing expenses. None of our Board members including me do not receive any money from Small Business California and in fact some of us make large financial contributions. You can join by going to www.smallbusinesscalifornia.org
We are also considering charging people who are not members a fee for these emails. I hope you will agree that there are few if any organizations that provide this kind of information to small businesses. throughout the year. Do these emails have value to you. are considering $75 a year. What are your thoughts on this?
FOR IMMEDIATE RELEASE
September 16, 2011
Contact: Elle Ourso, (202) 224-5175
SENATOR LANDRIEU COMMENTS ON
APPROPRIATIONS BILL FUNDING FOR SMALL BUSINESS ADMINISTRATION
U.S. Senate Appropriations Full Committee Mark-Up appropriates $955.3 million to the SBA for Fiscal Year 2012.
WASHINGTON – United States Senate Committee on Small Business and Entrepreneurship Chair Mary L. Landrieu, D-La., today commented on the Senate Fiscal Year 2012 appropriations approved for the Small Business Administration (SBA). The committee- approved bill will give the SBA $955.3 million for Fiscal Year 2012.
“I think the small business community should feel good about the FY2012 funding approved yesterday in the Appropriations Committee for the SBA,” Senator Landrieu said. “Members on both sides of the aisle were able to come together and find the resources to fully fund the SBA’s two largest small business loan programs. We were able to protect the funding for contracting and counseling, and also to restore necessary operating funds to the SBA’s disaster loan program. I realize everyone would have liked an increase, and I personally wanted more for the SCORE program to leverage that volunteer counseling, but this is a strong level given the environment of cuts, and I think we will be able to give entrepreneurs the necessary tools to start a business, manage an existing one, or even grow and prosper in FY2012 with this funding.”
Highlights of the Financial Services Fiscal Year Appropriations for the SBA are as follows:
- Increases funding for 7(a) and 504 loans from $80 million in 2011 to $211.6 million for 2012, leveraging about $25 billion in loans, without raising fees.
- Protects SBA’s core counseling and contracting assistance programs from cuts by providing matching 2011 levels.
- Fully funds SBA’s Disaster loan program’s administrative funds at $167 million and protects the loan dollars so that SBA has the money and staff necessary to respond quickly when disaster strikes businesses or homeowners.
- Provides $2 million for the SBIR Federal and State Technology Program to help small, high-technology firms better compete for the billions in Federal research and development projects and transition technology that might otherwise die on lab shelves or in an entrepreneurs’ garage.