 | | Cassius Butts Regional Administrator U.S. Small Business Administration |
Small Businesses in the Southeast (8 states) have saved nearly $530,000 in fees since the SBA announced a new policy for FY 2014 setting fees on SBA 7(a) loans for $150,000 and under to zero ($0). Last year, the SBA determined to eliminate fees on loans of $150,000 or less after conducting a review of the 7(a) Loan Program. As a result, a small business owner obtaining a $150,000 loan can save more than $2,500 in fees that previously would have been charged. The 7(a) Loan Program is the SBA's primary program to help start-up and existing small businesses obtain financing when they might not be eligible for business loans through normal lending channels. SBA is also reaching into underserved communities to assure that all small businesses have the access they need to lending. In addition to this, an SBA fee reduction to zero ($0) for all veteran loans authorized under the SBA Express program up to $350,000 went into effect on January 1, 2014 under a new program called SBA Veterans Advantage. This program is expected to yield significant savings for veterans looking to start or grow a business. Of all SBA loans that go to veterans, 73 percent are $350,000 and below. These two initiatives are in place through the end of the current fiscal year, September 30, 2014. To learn more visit www.sba.gov or contact one of SBA's district offices.   Advocacy Notice on CrowdfundingThe Office of Advocacy (Advocacy) offers the following comment to the Securities and Exchange Commission (SEC) in response to the above-referenced proposed rule issued on October 23, 2013. The SEC issued the proposed rule to implement Title III of the JOBS Act, which established the foundation for a regulatory structure for startups and small businesses to raise capital through securities offerings using the Internet through crowdfunding. On December 16, 2013 and January 15, 2014, Advocacy hosted small business roundtables to receive feedback from small business representatives about the proposed rule. Advocacy also hosted several conference calls to hear input from small business. Based upon this feedback from small business stakeholders, Advocacy is concerned that the Initial Regulatory Flexibility Analysis (IRFA) contained in the proposed rule lacks essential information required under the Regulatory Flexibility Act (RFA). Specifically, the IRFA does not adequately describe the costs of the proposed rule on small entities, and the IRFA does not set forth significant alternatives which accomplish the stated SEC objectives and which minimize the significant economic impact of the proposal on small entities. For this reason, Advocacy recommends that the SEC republish for public comment a Supplemental IRFA before proceeding with this rulemaking. Advocacy also believes that the SEC should take into consideration small business representatives' suggested alternatives to minimize the proposed rule's potential impact. The full comment letter can be found here: http://www.sba.gov/advocacy/816/789271 What is Happening in Your Small Business Community? | |  |
 | | Alabama Tom Todt, SBA District Director The Alabama District Office recently completed two Affordable Care Act (ACA) 101 briefings, one for members of the Decatur-Morgan County Chamber of Commerce. About 45 members showed up for Breakfast & Biz Jan 10 to learn about ACA provisions. On Jan 14, almost a dozen child care Center Directors from the Birmingham Directors Network attended a lunchtime briefing at Childcare Resources, a United Way agency, as well. Alabama District Director, Tom Todt provided the briefings. To learn more about future events, please visit www.sba.gov/AL. |
 | | Florida- North Wilfredo J. Gonzalez, SBA District Director The North Florida District Office will host a webinar on the Surety Bond Guarantee Prior Approval Program on Monday, January 27, 2014 at 11:00am. The purpose of the webinar is to inform small business owners on how to get bonded. The following topics will be covered during the course of the webinar: Contract Bonds What they are and Why they are Required How to Get Pre-Qualified Working Capital & Bank Support SBA's Surety Bond Guarantee Program Program Eligibility Required Information Application Process & Fees
Pre-registration is not required. Participants may access the training at https://connect16.uc.att.com/sba/meet/?ExEventID=87462470. A call in number will be provided to connect your phone once the web login has been initialized. Please contact Thaddeus Hammond at (904) 443-1900 with any questions about the webinar. |
 | | Florida- South Francisco "Pancho" Marrero, SBA District Director South Florida District Office (SFDO) bids farewell to Evangeline Horner who retired earlier this month after more than 40 years of federal service. With the exception of one year with the Veterans Administration, Eve's entire career has been with the SFDO. During her SBA career, Eve was employed in several divisions, including Administration, Portfolio Management Division (PMD), Management Assistance, Marketing & Outreach Division and 8(a) Business Development. Eve also served as the SBA's South Florida District Office Native American Affairs Representative. Eve said she intends to travel on one of the many cruise ships that can be seen from the SFDO offices--something she has never done. SFDO is also making preparations to host its first Emerging Leaders class this April. Office staff are busy working the logistics between the contractor and our resource partners. Finally, SFDO is happy to welcome a new Small Business Development Center (SBDC) to its resource network. Florida International University is now hosting an SBDC in their College of Business facility in downtown Miami. This new resource was long awaited and greatly welcomed in what is arguably the most important business center in south Florida. |
 | | Georgia Terri Denison, SBA District Director The Georgia District office has released its small businesses training plan for 2014. The monthly schedule includes an Overview of SBA Programs and Services, a workshop on Women and Veterans Federal Contracting Programs, and an Overview of 8(a) and HUBZone Business Development Programs. Additionally, an 8(a) Certification Step by Step workshop will be offered quarterly to assist firms applying for 8(a) certification. Also offered will be an 8(a) Marketing Next Steps program to assist newly certified 8(a) with their skills marketing to federal agencies. An Access to Capital workshop that explores various options for business financing will round out the quarterly offerings. In addition to the reoccurring classes, special industry focused or topic specific classes will be offered annually and semiannually. Topics will include Communication Strategies for Small Businesses, Starting a Restaurant and Food Service Business, Starting a Day Care Business, Understanding the SAM, Doing Business With the Federal Government, the Affordable Care Act as well as a variety of other subjects. Most classes are held at the Georgia District Office, 233 Peachtree Street, NE Suite 1900, Atlanta. All classes offered by the Georgia District are at no charge. Times and dates for classes outside Atlanta Metro will be announced at a later date.
In addition, SCORE Atlanta conducts its Simple Steps Series at the district office. Simple Steps is a five part series that covers the basics of business startup. Module One of Simple Steps is free; there is a fee for the remaining modules. SCORE also offers a reoccurring class on exporting in conjunction with the Georgia Small Business Development Center. For more information and to register for classes, click here SBA CLASSES IN GEORGIA |
 | | Kentucky Ralph Ross, SBA District Director SBA Participates in Diversity and Inclusion Conference The SBA Kentucky District Office will be participating in the annual Diversity & Inclusion Conference and Expo in April 2014, along with One Southern Indiana Chamber of Commerce and the SBDC. This all-day event, held annually for over a decade in the Louisville metro area, has focused on creating opportunities for small businesses seeking federal and state government as well as corporate contact opportunities. The conference includes a trade show, matchmaking event and educational sessions for small business owners. Exhibitors can showcase their products and services to WBE, MBE, DBE and veteran-owned business attendees as well as representatives from large corporations. The Matchmaker Program was created to connect certified WBE's, MBE's, DBE's and veteran-owned small businesses with corporate and government purchasing agents. In order to prepare small businesses for these contracting opportunities, the SBA Kentucky District Office will also be participating in a pre-conference workshop, entitled "Getting Certified," on February 19 from 1:00 – 6:00 p. This workshop will provide minority, women, disabled and veteran owned small businesses with the information necessary to get certified, and topics covered in the session include certification for 8(a), state WBE and veteran programs as well as the SAM (formerly CCR) database. Mr. Robert Coffey will represent the Kentucky District Office at both the pre-conference workshop and the Diversity and Inclusion Conference. |
 | | Mississippi Janita Stewart, SBA District Director
New Women's Business Center -SBA Mississippi is proud to announce the new Women's Business Center in Gulfport, MS. The new center will deliver high quality service focused on women entrepreneurs. Women's Business Centers (WBCs) represent a national network of nearly 100 educational centers throughout the United States and its territories, which are designed to assist women in starting and growing small businesses. WBCs seek to "level the playing field" for women entrepreneurs, who still face unique obstacles in the business world. CLIMB Community Development Center Women's Business Center Cindy Ward, Project Director 1316 30th Avenue Gulfport, MS 39501 (228) 864-6677 www.climbcdc.org
SBA Approves Gulf Coast Renaissance Corporation for Community Advantage Loan Program The Mississippi SBA has approved Gulf Coast Renaissance Corporation (GCRC) as a lender in the Community Advantage Loan program. "We're excited about GCRC's participation in the Community Advantage loan program. This will provide the much needed financing to small businesses in underserved communities in Mississippi to help in their development and growth," said Janita R. Stewart, District Director of the SBA in Mississippi. Community Advantage offers a streamlined application process for SBA-guaranteed 7(a) loans up to $250,000. Advantage loans also come with the regular 7(a) government guarantee, 85 percent for loans up to $150,000 and 75 percent for those greater than $150,000. Read more about the Community Advantage program at http://www.sba.gov/advantage. |
  | | South Carolina Elliott Cooper, SBA District Director The deadline may have passed for some of the 2014 SBA award nominations, but our office is still accepting nominations for the 2014 South Carolina Small Business & Advocacy Awards! Categories include: · The SOHO Award: (15 or fewer employees) · Family Business of the Year · Young Entrepreneur of the Year (under 30) · Veteran Entrepreneur of the Year · Minority Entrepreneurship Advocate of the Year · Women in Business Advocate of the Year ·Small Business Financing Advocate of the Year · Small Business Ally of the Year ( non-profits) Nominations for the South Carolina Small Business & Advocacy Awards are due by Friday, January 31. To access the nomination forms for each award, visit www.sba.gov/content/2013-south-carolina-small-business-advocacy-awards. The complete nomination guidelines and submission instructions are available at http://1.usa.gov/JwFBhU. For more information, contact Anna Huntley at anna.huntley@sba.gov. Upcoming Webinars USASpending.gov: A Tool for Contractors: Wednesday, January 22, 2:00-2:45. To register, email Michael Corp at michael.corp@sba.gov. FedBizOpps Website Overview: Wednesday, January 29, 2:00-2:45. To register, email Michael Corp at michael.corp@sba.gov. For a complete listing of South Carolina District Office events, check out the calendar at www.sba.gov/sc. |
 | | Tennessee Walter Perry, SBA District Director The Tennessee District is off to a busy start in 2014. In Government Contracting, an outreach session was held on January 16th in Chattanooga attracting 60 small business owners desiring to do business with federal agencies through SBA's 8(a) Business Development Program. Training sessions on SBA's guaranteed loan programs are being conducted in Memphis and Knoxville the week of January 20th, as SBA lenders are eager to learn about fee waivers for SBA loans of up to $350,000 for Veteran business owners. SBA will be exhibiting at the January 28th Tennessee Veterans Business Association conference in Knoxville highlighting support to those seeking to take their military skills into the world of small business ownership. The TN DO continues outreach activities related to the Affordable Care Act, with upcoming radio appearances and meetings with ACA Navigators covering the entire state. Wherever there is a need in the Volunteer State, SBA in Tennessee is ready to support the needs of small business owners as they seek counseling, training, loans and federal contracting opportunities. |
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