July 3, 2013 |
Despite making progress, the federal government fell short of its 2012 small-business contracting goals, according to figures released Tuesday. U.S. agencies awarded 22.25% of federal contracts to small firms, just shy of the goal of 23%, the Small Business Administration said. But it was an increase from 21.65% in 2011. The government did exceed its contract goals for small businesses owned by people of color and disabled veterans. However, it missed its goals for small businesses owned by women and those in historically underserved business zones.
February 11, 2013 |
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.
October 11, 2012 |
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.
January 14, 2012 |
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.
February 12, 2011 |
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 ?
October 15, 2010 |
More accustomed to allocating money by the million, the federal government is stepping up efforts to make loans as small as a few hundred dollars to some of the nation's tiniest companies. The goal is to create jobs, one little loan at a time. "In this environment, every job is crucial," said Eric Zarnikow, who helps run the Small Business Administration's loan programs. For every loan, he says, 11/2 jobs are created or retained. In Southern California, these so-called microloans will help a San Fernando Valley dental laboratory hire an assistant to make crowns and bridges and will enable an Orange County woman to sell gourmet ice cream sandwiches from a used food truck.