To that end, we're proposing to waive fees and increase the guarantees for SBA-backed loans.
It will make sure we continue to waive some of the fees for SBA-backed loans.
We should also continue to waive fees, increase guarantees, and expand the size of SBA-backed loans for small businesses.
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Another good place to go for advice is SCORE, a SBA-supported nonprofit organization that helps small businesses start and grow.
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SBA-backed loans have traditionally made up a fraction of overall small-business loans.
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The SBA backs a lot of loans to small businesses and recently made it easier to get a SBA-backed loan, easing access and reducing paperwork.
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It takes as much work for a bank to underwrite small loan as a large loan, says Bob Coleman, an SBA-loan analyst in La Canada, Calif.
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The SBA-backed loan programs have been a bright spot in the gloomy lending environment ( see October 2011 story), giving thousands of small-business owners such as Andrea Piatt access to capital they need to grow and hire.
Senior administration officials said the decision speaks to her accomplishments at the agency, such as reducing lender paperwork for SBA-backed loans, enforcing stricter oversight of government contracting and rolling out several laws that facilitated more lending to small businesses.
The venture capital firms that receive matching SBA-guaranteed loans will reap 2% management fees each year on the total fund of both private investment and government-backed debt, according to Sean Greene, the associate administrator for investment at the Small Business Administration.
And if you combine it with my proposal back in December to continue waiving fees and increasing guarantees for SBA-backed loans, all this will help small banks do even more of what our economy needs -- and that's ensure that small businesses are once again the engine of job growth in America.
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In the Jobs session, the Department of Labor Faith-based Center shared information with participants on Job Clubsand employment and skills training grants, and the SBA Faith-based and Neighborhood Partnership Office shared information about the role faith-based and community nonprofits can play as microloan intermediaries.
So we've expanded the SBA loan -- the Small Business Administration loan portfolio by about 70 percent.
In it, we temporarily reduced or eliminated fees on SBA loans -- loans that give small businesses more money to reinvest in their own futures.
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Last February, Joe and Doug were able to purchase the building we're standing in with an SBA loan -- an expansion that has already helped them retain 10 jobs, and one that will create 10 new ones in the months ahead.
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He was told more than once there was no chance for the deal to get approved through a non-SBA route, like a commercial loan.
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Corcoran has since tried going back to the SBA for more help--with little luck.
And Karen I think can share with you a whole host of technical assistance programs that the SBA has tried to set up -- on inventory controls and marketing and a whole host of other issues.
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But while it claims that 12, 000 SBA loans have gone to women-owned businesses, and that the Recovery Act prevented many state jobs held by women (teaching, nursing) from being cut due to budget deficits, the overall message is vague in actual achievement and inflated with future promises.
Obviously I think you all understand that the SBA administrator I think today outlined -- well, I know today -- outlined a program for providing assistance to those that -- largely fishermen that as a result of the spill and the closures that have been involved that have -- that it will greatly impact their business at an important time for their livelihood.
One might argue that such risks are justified, because the SBA is an important source of small-business lending.
Pursuant to Section 4 of Executive Order 13157, Departments and Agencies are required to take specific steps in working with the SBA to enhance procurement opportunities for women-owned small businesses.
In fact, as the managing partner for the Business Compliance One Stop (one of the cross-agency E-gov initiatives), SBA has already demonstrated in its prototype savings of one hour per user in reporting burden.
From the very beginning of this disaster, the SBA has acted quickly to assist fishermen and fishing-dependent small businesses.
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Some lenders have noted that the SBA administers less than 2 percent of all small-business loans, leaving lots of room for non-government loans.
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For more help in deciding which structure is the best fit for your business, check out a helpful resource on the SBA's Web site, the choose-a-structure feature.
This past Friday, Deputy Administrator for the Small Business Administration (SBA) Marie Johns and the White House held a conference call to talk about how SBA can work with neighborhood leaders, both faith-based and secular.
The order also required the SBA to train relevant federal departments, agencies and commissions--there are 66 of them, it turns out--on how to comply with the Flexibility Act.
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