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BUSINESS
June 25, 2013 | By Adolfo Flores
The federal government is making 17,000 more employers eligible for assistance from the Small Business Administration. The SBA enabled the expansion by changing the size standards for 70 industries. As a result of the changes, which go into effect in July, more firms will be eligible for SBA loans and grants and will be added to the agency's database for government contracts. Several markets, such as amusement parks, saw their revenue size standards rise to $35.5 million from $7 million.
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BUSINESS
March 27, 2014 | By Jim Puzzanghera
WASHINGTON - The Senate confirmed Maria Contreras-Sweet, a former California official who founded a Los Angeles community bank, to head the federal Small Business Administration. Contreras-Sweet was approved Thursday by voice vote to the Cabinet position, which helps small businesses with loans and other assistance. She takes over for Karen Mills, a former venture capitalist who stepped down as the agency's administrator last year. President Obama said Contreras-Sweet "understands what it means to start a small business" and has "a proven track record of helping other small businesses succeed.
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BUSINESS
April 5, 2013 | By Adolfo Flores
More than $2 billion in disaster loans was approved by the U.S. Small Business Administration to those affected by Superstorm Sandy , the agency said Friday. About 32,500 residents and businesses benefited from loans in what the agency called the third-largest natural disaster in the U.S. that it has responded to. The tropical cyclone struck in late October. “Since Hurricane Sandy struck the East Coast in October, SBA has worked diligently to approve loan applications and get money into the hands of storm victims as quickly as possible,” SBA leader Karen G. Mills said.
BUSINESS
January 15, 2014 | By James Barragan, Marc Lifsher and E. Scott Reckard
President Obama named Los Angeles businesswoman Maria Contreras-Sweet, the founder of a community bank and a former California Cabinet member, as his nominee to head the Small Business Administration. Obama said Contreras-Sweet, who has worked with small businesses in the private sector, understands what small businesses need. "Maria knows how hard it is to get started on a business," Obama said Wednesday. "The grueling hours, the stress, the occasional self-doubt. " "So not only did she start small businesses, but those have also been her customers, and she understands all too often that the lack of access to capital means a lack of opportunity," he said.
CALIFORNIA | LOCAL
August 6, 1994
Re your editorial, six months after the Northridge earthquake, "The Numbers Tell a Story," July 19: The Clinton Administration and the Small Business Administration (SBA) will not be satisfied that enough has been done for Northridge earthquake victims until we are satisfied that we have taken all reasonable steps to provide all the assistance we can under the laws that govern our program. Statistics reflect the sheer magnitude of the Northridge earthquake damage, which we know was the most destructive disaster in American history.
NEWS
April 29, 1986
Republican and Democratic senators angrily accused Charles L. Heatherly, acting administrator of the Small Business Administration, of trying to dismantle the agency despite a new law extending its life through 1988. Heatherly was grilled for almost 90 minutes by members of the Senate Small Business Committee. Sen. Lowell P. Weicker Jr. (R-Conn.), the panel's chairman, declared: "I will not allow this Administration to achieve administratively what it was unable to achieve legislatively.
BUSINESS
October 11, 2012 | By Dalina Castellanos, Los Angeles Times
Small businesses in the Western region that includes California took out more U.S.-backed loans than ever during the government's last fiscal year, but they didn't spend much of it in a way that generated new jobs, analysts said. The Small Business Administration said companies in the region, which also covers Arizona, Nevada, Hawaii and Guam, borrowed $6.7 billion in loans guaranteed by the agency. Firms in Los Angeles, Ventura and Santa Barbara counties took out loans totaling $1.5 billion, which the SBA called a "robust" amount.
BUSINESS
June 2, 1989 | JANE APPLEGATE
Susan Engeleiter, the new chief of the U.S. Small Business Administration, has been a lawyer, a teacher and, most recently, a politician. She said she understands small business because her father owned a small flooring company in Milwaukee. "I was raised in a small-business household," said Engeleiter, whom President Bush swore in for the appointed position at the White House on May 1. Engeleiter faced several immediate challenges when she took responsibility for the SBA and its staff of 4,500.
BUSINESS
October 3, 2010 | By Sharon Bernstein, Los Angeles Times
As the new head of the U.S. Small Business Administration for much of the western United States, Elizabeth Echols is responsible for making sure entrepreneurs in the region can obtain the training and funding they need to get started and stay afloat. Echols comes to the job from the U.S. Green Building Council, where she served as director of the organization's Northern California region. The experience, she says, taught her that high-tech businesses and green businesses don't know enough about the SBA and what it has to offer ?
BUSINESS
May 20, 1998 | MARLA DICKERSON, TIMES STAFF WRITER
When Southern California's aerospace industry went into the tank in the early '90s, John Stead and John Schoolland saw an opportunity to do a little bottom-fishing. While other companies were busy sacking employees and whacking budgets, the makers of specialty aircraft tools snapped up some troubled competitors in anticipation of the recovery ahead. They moved aggressively into foreign markets to offset slumping domestic sales. They even managed to expand their U.S.
BUSINESS
June 25, 2013 | By Adolfo Flores
The federal government is making 17,000 more employers eligible for assistance from the Small Business Administration. The SBA enabled the expansion by changing the size standards for 70 industries. As a result of the changes, which go into effect in July, more firms will be eligible for SBA loans and grants and will be added to the agency's database for government contracts. Several markets, such as amusement parks, saw their revenue size standards rise to $35.5 million from $7 million.
BUSINESS
April 5, 2013 | By Adolfo Flores
More than $2 billion in disaster loans was approved by the U.S. Small Business Administration to those affected by Superstorm Sandy , the agency said Friday. About 32,500 residents and businesses benefited from loans in what the agency called the third-largest natural disaster in the U.S. that it has responded to. The tropical cyclone struck in late October. “Since Hurricane Sandy struck the East Coast in October, SBA has worked diligently to approve loan applications and get money into the hands of storm victims as quickly as possible,” SBA leader Karen G. Mills said.
BUSINESS
February 11, 2013 | By Jim Puzzanghera
WASHINGTON -- Karen Mills, the former venture capitalist who has headed the Small Business Administration for the past four years, is stepping down, the White House said Monday. In a message to the agency's staff, Mills said she would stay until a successor is confirmed by the Senate. "Four years ago, when I arrived at the SBA, America's small businesses and entrepreneurs were struggling in the face of the worst economic environment since the Great Depression - and a banking sector that was frozen," Mills said.
BUSINESS
October 11, 2012 | By Dalina Castellanos, Los Angeles Times
Small businesses in the Western region that includes California took out more U.S.-backed loans than ever during the government's last fiscal year, but they didn't spend much of it in a way that generated new jobs, analysts said. The Small Business Administration said companies in the region, which also covers Arizona, Nevada, Hawaii and Guam, borrowed $6.7 billion in loans guaranteed by the agency. Firms in Los Angeles, Ventura and Santa Barbara counties took out loans totaling $1.5 billion, which the SBA called a "robust" amount.
BUSINESS
January 14, 2012 | By Jim Puzzanghera, Los Angeles Times
Small businesses scored a victory when President Obama said the head of the federal agency that provides them with loan guarantees and other assistance would begin attending Cabinet meetings. Karen Mills, who leads the Small Business Administration, "is going to make sure that small-business owners have their own seat at the table in our Cabinet meetings," Obama said Friday. His announcement was welcomed by small business advocates. For more than three years, they had been urging Obama to elevate the SBA administrator to Cabinet rank, the same top status as in the Clinton administration.
BUSINESS
July 25, 2011 | By Cyndia Zwahlen
Even though the recession has been officially over for some time, getting a small-business loan hasn't gotten any easier. In fact, fewer loans backed by the federal Small Business Administration were made during the first half of this year than during the same period in 2010. In Southern California, the amount lent in this type of loan declined 7% to $922 million in the period that ended June 30, compared with $988 million a year earlier. That's more than double the 3% decline nationwide.
BUSINESS
February 12, 2011 | By Sharon Bernstein, Los Angeles Times
A new federal loan program signed into law five months ago to help small businesses refinance the mortgages on their buildings could help save thousands of firms. If only the program could get started. Businesses can't apply for the loans or even determine if they qualify for them until the Small Business Administration releases rules for the program. The wait is not only problematic for stressed businesses, it's also eating up time. As passed by Congress, the program runs for two years ?
NEWS
September 11, 1987 | ROBERT L. JACKSON, Times Staff Writer
Present and former officials of the Small Business Administration told a Senate panel Thursday that they had been misled into helping a corrupt New York sheet-metal firm obtain millions of dollars in U.S. defense work under the SBA's minority business program. Former SBA Administrator James C. Sanders and others, testifying before the Senate Governmental Affairs subcommittee on oversight, said that they had made unwise decisions to assist the Wedtech Corp.
BUSINESS
March 28, 2011 | By Karen E. Klein
Dear Karen: How does a minority-owned small business get government contracts? Answer: First, qualify for the Small Business Administration's 8(a) Business Development program, which is for small firms that are socially and economically disadvantaged, including those that are minority owned. The rules governing the 8(a) program have been revised recently, enabling more small businesses to qualify, said Lourdes Martin-Rosa, government contracting advisor for American Express OPEN.
BUSINESS
February 18, 2011 | By Sharon Bernstein, Los Angeles Times
Months after Congress authorized a new loan program to help companies at risk of foreclosure, the Small Business Administration says it's ready to get started. But the agency has restricted access to the loans so significantly that many businesses in danger of losing factories, offices or stores won't qualify. Excluded are any firms that already have real estate loans backed by the SBA, along with many that refinanced at unfavorable rates during the worst of the credit crunch. "This is not good for small business," said Scott Hauge, president of advocacy group Small Business California.
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