"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

the sba. we did $30 billion in loan guarantees through our great partners, banking institution, and cdcs and others. $30 billion, that's more money into the hands of small businesses through sba loan guarantees than ever before in the history of this agency. [ applause ] and each one of these loans is a story like one of yours. i was out in michigan, which you know is this terribly hard hit, and i met tom johnson who was a chrysler employee for 15 years. and he had a dream though. he wanted to run his own business. so he looked around and he decided he wanted to become a culvers franchise see. but he didn't have experience. so with our help he was able to get an sba loan. he's now skpufl now looking for a second location. access to capital, providing that opportunity to grow and start a business is a critical piece of what we do. but we know we can be more streamlined. and that's one of the things that our whole team around capital access has been working on lead by jeanne hew lit. is she here

how can i get an sba loan? and really, add administrator mills mentioned, having a mentor and a friend. he became that and actually helped me get that first sba loan. walked me through the entire process, help immediate with my business plan, and if if weren't for that loan and him, i wouldn't be here today, and then in 2008, when we decided to double our space again, and we started from the very small 8,000 square foot, we're now about 34,000 square feet, the sba came forth and i was able to get another business loan. so reaching out, finding that mentor and that friend and then utilizing the services that are out there and asking a lot of questions is really key. >> okay. anything else to sharp with that? >> one point is that all of you in this room have been successful. you know. you're the winners, but we want to make sure all throughout this country that entrepreneurs have access and opportunity. that's why this combination of loan guarantees, micro-loans and mentorship counseling and assistance is so crit

the sba. i want to know what's going on in your business. how can i help? the owner said he grabbed for his business card, and we were able to fund the third store and the fourth store and the fifth store. eagle bank said, you know what? we don't need the sba guarantee. that is the story -- and the president absolutely got this. that's the story. we don't create your business, but we can accelerate what you do. and then -- until the marketplace recognizes and then helps you grow to the next level. e so at that store were the two young men who ran that, and two other entrepreneurs. kathy rachels was there and she owns an organic market. and she's a korean immigrant and had sba's support. she turned to the president and she said, i am living the american dream. that's what she said. brian smith was there. he started a contracting and construction business after decades of working for other people. he's now a prime contractor for the federal government. he does the excavations. he's part of that

i'd like to see a lot more from the sba. if you have any comment, that would be great. >> from my side as an bree prenepr bree prenear and a small business, we know the pains you struggle there. health care is a major issue, and it's debated in the national levels and debated at state levels, but what can i do today in my business? what can i do to help my marketing, to help my sales, do help my other areas? i know i can make a difference and those are where we put as much emphasis as we can. i know that may seem simplistic but that's a reality. while some of the other debate takes place, and i'm sure the sba will do everything they can to mitigate those kinds of challenges. >> i will say that your story, once again, is something we heard from small business owners all arounded country. small businesses pay 18% more for the same cover than big business they don't go in and they're very much a part of that of the base for the aaffordable care act. i will share with you that small business on owners very early on in this, and

how many of you have had a sba loan? 2011 was a record year for the sba. we did $30 billion in loan guarantees. that is more money into the hands of small businesses than ever before in history of this agency. [applause] and each one of these loans is a story, like one of yours. i was out in michigan, which was terribly hard hit and i met tom johnson, who was a chrysler employee for 15 years. he had a dream. he wanted to run his own business. he decided he wanted to become a franchisee. frozen yogurt is great. we always need another. but he didn't have experience. he was able to get an sba loan. he is now looking for a second location. access to capital is a critical piece of what we do. we know we can be more streamlined. that is one of the things that a whole team has been working on, led by jeanne. jeanne has been talking to you and one of the results was a program that we have for small businesses who may be one to win a big order but they need enough cash on hand to finance the inventory. we had a program but it was too cumbersome. we reengineered the

[applause] >> our next speaker is our own mark quinn with the sba. [applause] >> not a lot of prep on that, steve. [laughter] sharon and all the organizations mentioned are connected with sba. for us, the richest part of what we do is the micro-enterprise support in san francisco and organizations that do us -- do it. we're fortunate to have a terrific network of partners to work with. as steve said in the beginning, no other city is doing small business week like we are in san francisco. small business week here is not just about awards. it is also about all small businesses feeling like they are a participant in house small business suite i -- small- business week. we were trying to speak over the crowd last year at flavors. it was about all small businesses and them. that is what it should be about. it is an opportunity for us to recognize special small businesses, a special small business of the year. while i am in san francisco, i cover all of northern california. this is really the small business of the year for northern california. every year,

how many of you have had a sba loan? 2011 was a record year for the sba. we did $30 billion in loan guarantees. that is more money into the hands of small businesses than ever before in history of this agency. [applause] and each one of these loans is a story, like one of yours. i was out in michigan, which was terribly hard hit and i met tom johnson, who was a chrysler employee for 15 years. he had a dream. he wanted to run his own business. he decided he wanted to become a franchisee. frozen yogurt is great. we always need another. but he didn't have experience. he was able to get an sba loan. he is now looking for a second location. access to capital is a critical piece of what we do. we know we can be more streamlined. that is one of the things that a whole team has been working on, led by jeanne. jeanne has been talking to you and one of the results was a program that we have for small businesses who may be one to win a big order but they need enough cash on hand to finance the inventory. we had a program but it was too cumbersome. we reengineered the

>> 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

and this last year we did $30 billion, which was a record year for sba. so i think the point -- and it's very, very low coast because we do a guarantee. so it costs about a billion dollars to do $30 billion worth of guarantees. i think the lesson is government can give taxpayers a really good bang for their buck, but you've got to provide access and opportunity. there are all all kinds of entrepreneurs, high-growth entrepreneurs in every state across the country, in rural area whose are not getting access to venture capital. basically it goes to three states. so how do you provide access and opportunity? how do you create low cost, in the case of small business investment companies, no cost, public-private partnerships that open up the marketplace and allow small businesses to get some tools so they can grow? >> you know, i'd say the rule of government in sitting in silicon valley, most entrepreneurs kind of think, government? i mean, honestly. so focused on creating their company, and most if they care about government, it's the local government's taxati

mark from the sba. michael from wells fargo. steve from the chamber of commerce. and our committee members, regina and jane from the office of small business. kathleen and steve from the small business administration. sharon of the renaissance entrepreneurial center. melanie with the san francisco chamber of commerce. brigid from the san francisco african american chamber of commerce. jim from the council of district merchants. eric and pat from the golden gate business association. edith of the as the entrepreneurial center. susan, ella, a and katy from wells fargo bank, and adam and allison of strauss events. [applause] >> and thank you very much to our sponsors who make this week- long bigger and more meaningful to small business every year, starting with our title and presenting sponsor wells fargo, of entrepreneur sponsor sfmta. if you have seen that we have been able to promote small business to where we needed the attention. we wanted small business to know we were throwing a party and a weeklong celebration and a week- long opportunity to educate and inspi

you can but the it through the sba, and they trust the sba, and let them guarantee the loans for smallss, so we have access to capital. they cannot get money. >>neil: but a small business advisory panel, that is all they do in washington is have panels. >>guest: but the panel does not have real business people. appoint a small --. >>neil: but neither does the president. >>guest: put a real proven return on investment panel that know was they are doing. >>neil: but you have have to teach them how. >>guest: and this is the liaison define the public and private sector, so, now, what you are doing is taking a small business who knows how to do business, timeline, allocation of resources, return on investorment and they will make the decision --. >>imus: and they make recommendations like the debt commissions but they could be ignored. ing we are putting more and more information online. but it is, everything we occupy. every patent, trademark every security issue, we have to have a global strategy because we have the same concern. >>neil: not the french. in the friend. comprehensive energy

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

sba, sf chamber of commerce, office of small business, council of district merchants, and the golden gate business association. >> every person in this room is building small business. you are helping small businesses through -- to thrive. remember to shop san francisco, shot small business. -- shop small business. please stay and help congratulate the awardees, the sponsors, and each other. we're making san francisco great. thank you again, mr. mayor. [applause] >> this is the most contemporary art show in the history of the museum. let me give you some numbers. 31 artists across the 50 nations. 60 monumental works, the largest of which is behind me. this is a gift to all the people in our beloved city of san francisco. a gift to all the visitors near and far. let me give you our honorable mayor of san francisco. [applause] >> thank you for being here today. this month is a celebration of asian-american heritage. i wanted to thank our asian art museum, all of its staff, the director. the board of directors. not just parts in san francisco, but asian-american art throughout the world

a great service and great product, and people want to work hard, then action by government and the sbapresident said pushing congress to push a 10% tax credit for new jobs and a 20% tax credit to bring overseas jobs back to the u.s. the house republicans lead the president's current -- believe they're hurting small businesses. >>> the president is not the only one pumps out small businesses. cash mobs are swarming stores, giving mom and pop stores big business and ann coinman has more. >> reporter: cash mobs have been popping up all over the country from san diego to buffalo. in this case, the chugging rhino in pomean ab, new york s reaping the rewards and can be anywhere local from a bakery to a movie theatre to a gift shop. the idea is to spend $20 in goods and services v fun and to build relationships. they use social media to spread the word. the owner has been enjoying the boost in business. >> everyone supported me and above all of the businesses that were nominated, it was a good feeling against all of the other deserveing businesses for them to come here and i couldn't be happi

the education comes from the outreach that will be required through the sba. you will have to hire fewer workers to discuss this issue and then you will have to put this into the lease agreement, and then have the building or health inspector look at this issue. besides education -- the cast inspector is not going to work -- because you can still get sued. everyone keeps rejecting the right to curb provision because every business is going to wait until they are going to get sued, but no business owner knows about it. hamburger haven had a sign on its store from s at saidue us. -- said sue us. it is a very narrow store. you have to have two restrooms. that is not the reality. there is no one from the city to do with the issue because we keep saying it is federal law. the county does not want to get involved. we are dealing with this in a matter where you have private plaintiffs attorneys who are going out and enforcing the law, and that was the intention of the law, but what is fair to be done is the county refuses to have any activity to educate the business

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 for them. on getting a loan through my side of the bank, i do not require an account to do that. we would like to have it, but i do not require it. >> last question for the opportunity fund and a critic representative. are you a cdfi? is san francisco and s.p.a. in support of cdfi's being established in san francisco? >> yes, we are. we were founded in 1999 with a small business loan. that is how we started our tenderloin office. >> opportunity fund is a certified cdfi, so we are providing a benefit to low and moderate-income communi

so i don't seed the need to drag the insurance companies sba this particular rule when they did not present a systemic risk in the event -- in the terms of metlife. we cannot bring a single term down to metlife. you don't have to answer that question. >> thank you. mr. grim for five minutes. >> thank you, madame chair. and thank the panel for being here today. it is interesting, i'll tell you that, the last of his questions, i think hit to the heart of why everyone is so confused. the amount of uncertainty has risen to an all-time high. and it's getting worse. the gentleman from north carolina asked before why we don't have more smaller banks. that should be obvious. they can't compete. they can't keep up with the administrative costs of all the rugs and regulations. as we continue to add on in the hopes of getting rid of systemic risk, you're going to be left with only a few large institutions that can afford to keep up. therefore, making them systemically risky. but maybe i have it backwards. maybe i'm missing something. let's talk a little bit about asset managers for a second. has the c

so we were the beneficiary of the sba, sbdc, the legislation, the ara legislation so we thank you. we're extremely grateful. you made a difference in our business. our business continued to grow. our revenues as well as our profit, we tighten things down. so our profit percent increased 190% year-over-year. my question -- i think as small businesses we are very strong, and by the way my company's name is software con sort yum. we are the business person of the year, but what my question is is from a dwooi-- we're look beyond the recession and the global competition. as it relates to our business, what should we be doing to look to athat global economy? what advice do you have, and who should we talk to? >> well, i'm just answer i'm in the manufacturing, as i mentioned, and you know i think it's really important i actually back in 2003 went over to china on my first trade mission and have been over there three times since, been to india and south america. we as small business owners have to grasp that we are a global economy and get educated as to what our challenges are? what thing

there is more focus in washington around -- the next panel, kirnl mills of the sba and kate mitchell who runs the ipo ramp will be talking on entrepreneurship -- there's more recognition of the role of entrepreneurship than there was in the past is, we need to build on than bipartisan momentum and than innovation momentum to get other issues is like this of talent done. rather than try to get everything done, let's build on a successful model and get something done. it happens to be probably the most important area because you want to get the unemployment down and be competitive in a much tougher global environment. focusing on innovation and entrepreneurship is the key. it's the secret sauce that built america. >> i think peter's probably got some questionses from our audience. >> this questi >> some questions from the audience. this one is for you, steve case. i'm not sure if you heard arthur levitt's comments but he was critical of the jobs act earlier. this is i think in light of his comments. does the online provision of the jobs act go too far if companies such as groupon that

i invite you to visit the sba office in san diego. i know them very well.h regards to competing against the big guys, some of the best ideas to partner with those of larger companies to get your foot inside the door. there are a lot of companies out there looking for small businesses to team with because they have their own goals and requirements, for example the u.s. government. i invite you to follow up with the sba. good luck to you and your business. host: hector barreto is the author of "the engine of america," and is the chairman of the latino coalition. tell us about it. guest: it is a nationwide organization with membership. small businesses also get active in the four c's -- capital, capacity, costs. we do events of the country. this is the small business summit we do here in d.c. we do things on the west coast and all over the country. we have a database of over 1.2 million hispanic businesses, about 40% of all of the businesses. we are very excited of the future for small businesses in general but also for the hispanic community because we believ

i think e sba discounted here and with pay pal could be a huge threat to mastercard and visa.ld let it fall over quite a bit 15 to 20% more. >> mastercard and visa don't have a high correlation. just keep that in mind. >> next, facebook has been a flop since the ipo, but there could be hope for the stock. the top five turn around stories when we come back. [ female announcer ] it's time for the annual shareholders meeting. ♪ there'll be the usual presentations on research. and development. some new members of the team will be introduced. the chairman emeritus will distribute his usual wisdom. and you? well, you're the chief life officer. you just need the right professional to help you take charge. ♪ [ wind howling ] [ technician ] are you busy? management just sent over these new technical manuals. they need you to translate them into portuguese. by tomorrow. [ male announcer ] ducati knows it's better for xerox to manage their global publications. so they can focus on building amazing bikes. with xerox, you're ready for real business. in your fight against bugs. ortho home d