SBA Reauthorization: Credit Programs : Roundtable Before the Committee on Small Business and Entrepreneurship, United States Senate, One Hundred Eighth Congress, First Session, Part 1

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Page 33 - Thank you for the opportunity to testify. We look forward to working with the members of this Committee and Committee staff on the upcoming SBA re-authorization bill.
Page 113 - Yet access to technical assistance can be as problematic as access to credit for many microbusinesses. According to CEI's survey, nearly half of the business owners sought advice prior to start-up and approximately 75 percent continue to seek advice for ongoing operations. It is not surprising that resources, such as the Small Business Development Centers and the Service Corps of Retired Executives, are strained and that businesses can wait 4-6 weeks to meet with a business counselor. Seventy-percent...
Page 128 - Administration (SBA) in its statutory mission to maintain and strengthen the Nation's economy by aiding, counseling, assisting, and protecting the interests of small businesses and by helping families and businesses recover from disasters.
Page 30 - ... o SBA 7(a) loans have significantly longer maturities than conventional loans to small businesses. The average original maturity of SBA 7(a) loans, according to the Office of Management and Budget ("OMB"), is 14 years. By comparison, only 16% of conventional small business loans have maturities in excess of one year, and of those loans, the average maturity is less than four years o Longer maturities mean substantially lower monthly payments for borrowers. For example, the difference in monthly...
Page 30 - For example, the. difference in monthly payments from a 10 year SBA 7(a) loan to a five year conventional loan (which would be above the average maturity for conventional loans), would be 35-40%. This is a significant increase for the average SBA borrower who tends to be a new business startup or an early stage company.
Page 59 - Small Business Administration: Progress Made but Improvements Needed in Lender Oversight. GAO-03-90. Washington, DC: December 9, 2002.
Page 59 - Our country's 22 million small businesses employ more than 50 percent of the private workforce, and they generate more than half of the Nation's Gross Domestic Product, and are the principal source of new jobs. When President Clinton announced plans to reinvent the Federal Government, he indicated the goal was "customer service equal to the best in business.
Page 144 - SBA's organization was aligned to achieve its mission; that is, the integration of organizational components, activities, core processes and resources to support efficient and effective achievement of outcomes.
Page 30 - This represents an 80% reduction in the estimated cost of the program to the government. This reduction in subsidy costs has been achieved by improved underwriting guidelines, establishment of lender review procedures, and fee increases on both...
Page 83 - Ownership and an intermediary under the SBA Women's PreQualified Loan Guaranty Program. Incorporated in 1977, CEI manages a pool of...

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