"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

>> 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

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

we're number one sba lender three years in a row.tinue to do more and more with the small business community to lend them grow and start businesses. it has been a great business for us. it is also true we haven't seen as much demand from our small business clients what they which they like. but we think that will come. economy comes back. we'll be there to help them. >> middle market lending has grown ten to 15 percent every quarter for the last ten quarters. large corporate lending is wide open. capital markets are wide open. mortgage origination is going up. it is going up. we're creating so many deposits hard to use them all. anyone that wants a loan we make the loan. melissa: housing, where do you think we're in that cycle? >> housing clearly turned. you here people complain about it. too tight. appraisals are too tight. income demands are too tight. we haven't opened up securitization market. this is area where government and banks want to get it done. reopen securitization market to make homes cheaper and more affordable. four

there's a suit with sba promotions. they want about $12 million back. there's a libel suit in england he's finishing. talking under oath anywhere is probably a bad idea. it does mean it's probably the end of his competitive career, his ambitions to raise. >> tell me about his mood. is he angry? does he feel like he's a victim, or does he somehow feel like he's gotten some new sense of coming forward and telling everybody the truth? >> i think he was frustrated last night. he does -- he says he wants to come forward and cooperate. he's hoping with -- cycling is talking about a truth and reconciliation commission. it's a term borrowed. >> let me interrupt you, bill. do you believe that? do you believe he really wants to tell the truth? >> i think he wants to get past it. he's ready just to get past it as a lot of us in cycling are. i think the reaction if a lot of insiders are that we're all disappointed that he wasn't able to talk to usada. >> bill strickland, thank you so much. >> thank you. >>> time now tow show you this morning's headlines from around

or submitted on the website at disasterloan-dot- sba-dot-gov-backslash-e-l- a.loans have some rates below one-point-seven percent for residents and four percent for businesses. walgreen has a new way to educate employees. with walgreen university students can earn credits toward actual degrees. the campus near it's deerfield, illinois headquaters includes a mock drugstore and more than 100 courses. walgreen executives and faculty from area colleges will lead the classes. the big reveal of the new look for wendy's happens this week.this is a sneak peek.the fast food chain's new logo will appear in ads, packaging, signs and crew uniforms. it still includes that famous portrait of wendy thomas, daughter of the restaurants founder dave thomas. turns out india has a sweet tooth for american-made chocolates. analysts say india is the 'fastest growing market for chocolate in the world.' the nation's growing palate for the sweet has u-s chocolatiers heading east. in the next 5 to 10 years cnn says it will be a top market for the treat. still to come why going a non traditional route with your ret

. >> two months later, the sba didn't approve the hepetittis vaccine. they are coming to a vote again for this vaccine. >> the first time in five years, just kidding, they mentioned i got amlin wrong, i think people watch the show, i did a huge episode how i got it wrong. i don't expect much from next week. i think the stock got overly down. i get things wrong. i do believe that there is hope for what happens next week. after i got it so wrong, i have to eat crow. pat in new york. >> jim, how you are? >> not bad, how you are? >> doing well. jim n light of this growing number and the recent exposure in china, posing a threat to not only our government but the economy, do you that source fire is a good play on the market. >> when they make mistakes, they get crushed. i do believe in the thesis. i don't want to go over board. i like flir, fiown that one, i would break the register. tom in new york. >> how have you been? >> platsburg. >> b-52, what is going on? >> trying to survive the winter. >> for all you do, i wanted to ask you, i am a new investor, sma

we're at an all time low in capital access through the sba.r agreements which are union only for construction projects. 98% of my constituents are in the construction business are non-union. when you put up a project labor agreement, you are saying need not apply. stuart: what proportion of the people in the black chamber of commerce, what proportion feel the way you do now, it's not a president who is really helping the overall economy period? >> it is growing immensely, i remember a few years ago, bringing it up at a board meeting, and i got jumped on. now, when i bring it up at a board meeting, everybody's nodding their heads and we're talking in unison that something needs to be done. our membership is growing because it's like the church, when times get bad, you go to church. when the economy gets bad, you join your business association. so we're rolling on that end, but we've got to do something to change this tide for our children's sake and for our grandchildren's sake. stuart: charles? charles: how is it going? this is charles payne.

stepping down after four years as chief of the sba, karen mills. we see that gop senators plan to grill jacob lew on his time at citigroup. a couple other stories in the news. north korea has said that it exploded a nuclear device on tuesday. it's the third experimental destination in a long effort to build weapons of mass destruction that the u.s. and other countries considered a serious threat. a statement from north korea's state news agency says a third nuclear test has been successfully staged. it was published three hours afterwards. south korea, the u.s., and japan, have detected an artificial earthquake in the country, they thought. another event we are covering today on c-span, the impact of sequestration. this is before the senate armed services committee. that is on c-span3 at 9:30 this morning. we will be following that to hear more about sequestration. our question for you this morning is about state of the union speeches. do you think they matter? our next call in texas on our independent line, pete. caller: hi, libby. host: go ahead.

sba expenses coming down by 55 basis points.hey're selling items at $1 or less and are still able to bring down sg & a. that's a strength for dollar stores in general. it's funny, because of late people are questioning the strength of the dollar stores with walmart. now we have dollar tree, a very good quarter. >> these were heavily rated stocks by short funds. they said, if dollar tree says this, then dollar general will say it. then dollar general actually said it, and that kiboshed the whole group. there has always been a strong sector here. but they did start taking food stamp. a lot of chatter is food stamps would be curtailed. maybe that will hurt them. tobacco wars, these stocks have a lot of room to go higher, if dollar tree goes -- >> tonight, limited tonight, some crazy rumors going around about coach. i don't know if we want to say it out loud. >> the stock is moving -- the stock is sharply higher pre-market. in that way these rumors, it's a takeout target. but, you know, so what. >> i struggle with it. i thought -- i

the sba a arranges loans for small businesses. >> given the prep of products we have, smart phones, televisions we invest in his multi-screen activity cannot because we have seen consumers multitasking. you are texting on your phone or looking at the internet on your tablets. how do we link those devices to each other, how do we think them to the clout or the internet. one example is the galaxy camera, so we launched the camera last year. a camera built in with 3g and 4g connectivity. you can take photos and up load them to a website or to social media, bringing wireless connectivity to a camera. making products like that to the internet and to each other, that is a big opportunity with us with a value to the consumer. >> the future of consumer electronics technology. tonight at 8:00 eastern on on c-span2.or's," >> i can report do you that the state of this old but youthful union is good. >> once again with keeping with tradition i have come to report to you on the state of the union, and i am pleased to report that america is much improved, and there is good reason to believe that improvement

the sequester has the potential to undermine this very promised by reducing sba funding. as a result, loands to women will be reduced by two and a $50 million, translating to an increase of 2500 jobs. this means fewer women will be able to access affordable capital to turn their ideas, their dreams come into reality. when it comes to contract in, we have been fighting for so long -- we even took the bush administration to court to implement a contracting women program, and now that it is up and running, we're going to shut the door, preventing a level playing field for women's businesses to act as federal contracts. we have not achieved the mandating contracting goal of 5%. these will translate to $1.30 billion in small business contracts that will be lost for women entrepreneurs. this will jeopardize at least 15,000 jobs. when combined with the closure of business centers that serve mainly women across america that will provide technical assistance so that they could turn those dreams and those ideas into a financial plan and then go to a bank that is matched by this sma