"an sba lender will be able to make the loan with a guarantee that sba will be able to provide. we probably will about 225 sba loans this year. at any point in time, we have about 1500 loans in san francisco that are sba loans. a lot of them are restaurants because that is one of the areas that is very typical because it is a riskier business. but a lot of people in san francisco see that as an opportunity for them as well. we also partner with the golden gate restaurant association to help people understand how to do financing for restaurants. a lot of what we do is helping small businesses get access to credit. the sba loan program covers a range of small loans down to $25,000 and large loans up to $5 million, so it is a very wide range. can be used for a variety of uses -- debt refinancing, building acquisition, working capital, so it can be used for a wide range of things from a small business point of view. as you heard, we do guarantees for about 90 or 100 banks in the country -- or in the bay area. about 3000 nationwide. there is a lot of lenders that do some sba lending.

what impact will be cuts in the sba budget have on the sba program? it seems the small business committee is try to make drastic cuts. from our perspective, the new majority leadership is looking to make drastic cuts, many of the program will hold near and dear to our hearts. the question the leader is continually asking is, show me the jobs. she wants to see house bills come to the floor that create economic opportunity for middle- class -- all of americans. if the small business committee is looking to cut funds from the sba, we see that as a detriment. we do not believe in cutting to create more jobs. we agree with the idea of the recovery act, putting more money out there to get people employed. >> on congressional action, that is not my role. in san francisco, we have been the beneficiary. all small businesses should be aware that we have been the beneficiary of a lot of good resources for small businesses. we have more nonprofits that are funded through micro lending here in the city from sba programs. some are expected to be looked at for budge

is sba approval?is it just requires that you will have in the process lacks because in some cases it seems to just drag on and drag on and drag on, and then you have to ask for more money or apply for more money on the one which creates more problems because the costs are going up. >> i can speak to that. we would certainly like to see the process quicker. again, i think it goes back to trying to work with somebody out of one of the national offices who doesn't understand the local economy. we've seen a less experienced people over the last couple of years and we think that slows down the process. sometimes they can take up to three or four weeks to get a loan approved but if we're doing that loan in house to take a couple of days. so we see that as an area for improvement. >> ms. robertson? >> from the 504 standpoint, we are now required to provide construction bids at the time the 504 application is a bit on a construction project for approval. commercial reasonable standard would be that constructi

we participate in the sba 7a, sba express and patriot programs.y of our sba loans are for entrepreneurs wanting to start a new business and create new jobs. in 2011 study commissioned by the sba indicated that credit union small-business lending has increased in terms of the percentage of their assets both before and during the recent financial crisis while banks' small-business lending has decreased. this demonstrates the credit unions continued to meet the capital needs of the business members during the most difficult times. fortunately when congress passed the credit union member access act in 1998, it put in place an artificial cap on the ability of credit unions to offer the member business loans. it should be noted that dimond guaranteed portions of the sba loans count toward this arbitrary cap. at corning credit union we are approaching the cab and expect to reach it next year. this will ultimately impact our ability to make a member business loans including sba loans to the small businesses we serve. fortunately, there is bipartisan legis

>> i already have an sba loan. i went to wells fargo for a line of credit and they would not give me one. >> i can speak to you about it. when we look at funds that are needed, the biggest thing we look at our cash flow. i can address that with you. unless there is an issue, at that point -- [inaudible] >> let's talk, ok. >> i have a couple of more questions. i know that the panelists have agreed to stay after for those who have specific questions. i do have one question for wells fargo. what are the typical rules for applying for sba loan of less than $50,000? how much money do we need to have in your bank to apply for a loan? >> i am on the smaller side of the bank. i am a transaction guy. i do not technically require one to have an account to do a loan with. what i look for, i generally start at 100,000 and up. when it is a requirement of 50,000 or less, i tend to call of the micro guys to help me out. that is right in their box. for us, the capacity for us to do the smaller side is not there as much as it is fo

it's not just sba money. i have a letter in front of me from one of my banks, but it's the treasury program that mr. schrader was mentioning that one of the rules to get the treasury loan is that the company has to start to certify that they're not child offenders. it was a parliamentary trick played last year to defeat this bill. an accident included so now they are having trouble lending the money because of this provision because small business owners are a little bit insulted that they have to certify, not that they are not murderers, but they're not child offenders. so i appreciate your efforts. i'm not going to belabor the point. my office is always available if we can get any help that i appreciate the work you are doing. >> mr. mulvaney. >> thank you, mr. chairman. administrator mills thank you very much for doing this to at the risk of repeating what may been said, i apologize for being late, but i want to thank the chairman and ranking member for giving me, and congresswoman chu debbie killed during

she's been with the sba or has been the sba administrator since 2009 and is obviously no stranger to the committee. prior to joining the small business administration she was an investor in small businesses and all the struggles businesses have in obtaining capital and we are very familiar to you. thank you for being here and we appreciate you coming in. >> well, thank you very much, chairman and ranking member velÁzquez and members of the committee. thank you for asking me to testify on access for capital to small business. for the fiscal year that just closed, the sba hit an all-time record in the 60 year history. we supported over 30 billion in lending to 60,000 small businesses, and we brought back 1200 lenders mostly community banks and credit unions who had not made a sba loan since 2007. we also had a record year in the small business investment company program that nearly 2.6 billion in overall financing. this is a zero subsidy program that targets high-growth small businesses, the main driver of the net new jobs. today come sba's lending volume is back at the pre-recession l

sba shows volume has increased.ese efforts have been supplemented by promises from banks to raise lending to small businesses. it remains an open question whether these efforts are sufficient to provide the necessary funds for small businesses to expand and create jobs. sba programs operate with loan guarantees issued by the federal government. congress is determined that the risks to the taxpayers are outweighed by the benefits in providing the needed capital to small businesses. this committee has a responsibility to insure that the desire to get money into the hands of small businesses does not come at the expense of exercising due diligence when making a loan, especially when taxpayers are on the hook for the government's bad decisions. therefore, the committee needs to know that the sba and its partners are complying with the requirements of the small business act and not issuing loans with document deficiencies as the inspector general has recently found. ultimately, the committee needs to understand whether t

i am supportive, as you are, of sba damage is, but those were not enough. -- sba guarantees, but those were not enough to it not all banks desert capital or are eligible for capital, but 10% of community banks across the country, there was a good economic case for giving them an investment with a return to taxpayer. the evidence shows a very good return to the taxpayer. >> 1.8 billion out of -- those are the facts -- 51% of recipients were going to increase their lending. >> could i respond to those -- >> those are the facts. >> what congress authorized was a $30 billion program, ok? banks applied for 1/lee of the capital in the program. -- 1/3 of the capital in the program. we cannot force banks to come. only half were eligible. they were only eligible because we had to be careful to make sure that the taxpayers' resources were going to banks that were viable. we were not going to take too much risk. we were going to take some risk, but not too much risk in the resources that were wasted. banks only apply for 1/3 of the 30. only roughly half of those banks were eligible in the eyes of

sba loans moving out there?ecommendations. when we looked at this, we got mckenzie involved as well. all the proposals made by all folks on all sides over the last few years and analyzed them and prioritized them. there are things the administration can do, we recommended seven. there are things congress needs to do. there are four things that need to be part of a bipartisan package and things the private sector can do. the president signed one of his key people within the administration to drive these things including streamlining access to sba loans and making it easier for entrepreneurs to understand what's available. >> you talk about a focus on entrepreneurship as part of it. the other part is innovation. remember wendy schmidt yesterday and the wendy schmidt i think it was x challenge to figure out a solution as to how to pick up oil from the gulf and how two companies ended up winning this and, by the way, breaking new ground on an area we really need growth on. >> that's a small version. > > >>>. >> ther

they narrow the big sea sba a line of your sweat and then they take away your last word and then they take away another. now you put the keys back in your pocket and now you push on the door until it is in flame, until it is in flame. next reader is jane herschfield. . >> one sand grain among the others in winter wind. i wake with my hand held over the place of grief in my body. depend on nothing, the voice advices, but even that is useless. my ears are useless, my familiar and intimate tongue, my protecting hand is useless that wants to hold the single leaf to the tree and say, not this one. this one will be saved. a poem written on september 15th, 2001, against the knowledge that exactly what would happen was probably going to happen. the dead do not want us dead. the dead do not want us dead. such petty errors are left for the living. nor do they want our mourning. no gift to them. not rage, not weeping. return one of them, any one of them, to the earth and look. such foolish skipping, such telling of bad jokes, such feasting. even a cucumber, even a single anise seed, feasting. an

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sba online small business training offers a series of 30 minute courses on business basics. many of the courses include audio explanations, videos and podcasts. >> small business development center has training courses from sites like virtual adviser and custom programs from the pennsylvania sbdc network. you can find online courses that cover your office and productivity needs at hp learning sernter. microsoft office training has more advanced training to get more out of the application. training presentations and workbooks can be down loaded. my own business incorporated has a business course that covers topics for anyone starting or operating a business. >>> still to come, we answer your education related small business questions including one about how to market to high school and college students. and a unique program in detroit. a nonprofit that teaches people the skills they need to be entrepreneurs. sam: i'm sam chernin. owner of sammy's fish box. i opened the first sammy's back in 1966. my employees are like family. and, i want people that work for me to feel that t

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making the 2011 the most successful year in sba loan program.result, some of the provisions that we had included in the small business job that. also, as of september 22 this year, the u.s. department of treasury had approved more than $1.2 billion of the world would $5 billion available for small business initiative credit available -- of the $1.5 billion available for small business initiative credit available. to date, 50 states and territories -- we have 55, including the district of columbia -- have been approved with for state spending. these businesses are not in the beltway here in washington. they are not on wall street in new york. they are in rural, suburban, and rural areas on main streets across america that have been starved for capital because of this tough recession. many of these programs have recently received funding from treasury, so a complete picture will have to wait. we will get some initial data this morning from secretary geithner could i intend to have a hearing early in the second quarter next year to receive testimon

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