"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

after a thorough review of the information provided to sba, sba desert fide sci on may 13, 2013. sba takes seriously it's duty to root out fraud abuse and waste in all of the programs including hub zone. our top priret is to ensure the benefits flow to the intended recipients. our government contracting programs are an effective tool kit for small businesses however we have no tolerance for fraud in those programs. for this reason we have a three prong strategy to identify, prevent and pursue non-compliance or fraud against all our contracting programs. first is certification processes. clear and comprehensive processes on the front end ensure only qualified firms participate in our programs. second, continued surveillance and monitoring. reviews and on site visits identify potentially fraudulent fimples or those that no longer qualify. and robust timely enforcement. prompt enforcement deters wrongdoing and provides integrity to our contracting programs. we are especially proud of our core partnership with the office of inspector general whose participation is critical to our eff

>> 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

>> companies have a duty to provide accurate information to the sba because, of course, the sba needsccurate information on an ongoing basis in order to originally certify and decide if the company is still in compliance. >> so is there sort of an honor system? we rely on them to be verify and tell the truth? >> well, we always expect folks to act in an honorable way. but the regulations require that they provide accurate information on an ongoing basis. it's a regulatory requirement. not just a trust system. >> in this case, the certification provided previously was the defense between, well, qualifying for a hub zone but also the 35% requirement; is that right? >> i'm sorry. i don't understand the question. >> the information provided by former employee, michelle castillo, meant that strong castle made the difference with the 35% resident sincerity requirement; is that correct? >> well. >> this wasn't just an error? this was sort of -- >> this went to two issues. it went to whether the status of employees and whether or not employees were actually spending their time at the principl

as an sba loan sba loan, basica you have collateral, i don't think that would matter so much as a family-owned funding, vcs, that's going to be really, really tough unless you you have something kind of real unique and dynamic to -- that you're trying to get money for, the kind of business you have. >> what do you need to do if you are spouses, siblings, mother, son, whatever you are, in order to alleviate anybody's fears. >> you have to have a really good backup plan. in terms of what's going to happen. anybody coming in to invest in you, spree, is that the name of the company that was husband and wife founded and everything was wonderful and then an ugly divorce and the whole company fell apart. and so it's about -- nothing was in writing ahead of time. >> maybe just address it and alleviate fears right off the bat. go to the last question. it's about growing your business and expanding the number of employees. >> as the small business begins to expand beyond your personal capacity, how do you build the right team to make sure that becomes an entity that can run without you over time. >> par

points of contact that the administration the government had with small and medium-sized businesses, sba, the commerce offices around the country to ensure that they were trained and capable of providing small and medium-sized businesses with the kind of advice they need about how to begin to export, how to evaluate the market and how to navigate their way to visitors procedures that they need to navigate. so this is been a major priority of ours. ntpp itself with a small and medium-size business chapter and the objective is to be able to look back at tpp as it's being implemented to ensure that the benefits of the tpp are also going to small and medium-sized businesses and to make adjustments as appropriate. so this is a high priority for us. we believe these are the drivers of jobs in the united states and we think there's much more we could do to help these companies become part of the global economy. >> thank you very much. we have a great relationship with ambassador kirk and look forward to working with you. i yield back. >> thank you. mr. reed. >> thank you, mr. chairman. thank yo

you did misrepresent to sba, but you certainly broke the trust of this great nation.he trust of veterans. iraq and afghanistan veterans right now are waiting an average of 237 days for an initial disability rating, and it is because people like you who are gaming the system are adding to that backlog so that young men and women suffering from post traumatic stress, missing limbs, cannot get the compensation and help they need. >> all i can say to congresswoman tammy duckworth, amen and amen. thank you for shredding this guy who would take advantage of benefits that should be going to deserving veterans, and my heart felt thanks to the congresswoman for an excellent presentation. >>> several of paula deen's business partners dropped her since she admitted to using racial language over 20 years ago. she appeared on the "today" show with matt lauer. >> i've had wonderful support. i tell you what, if there's anyone out there that has never said something that they wish they could take back,f you're out there, please pick up that stone and throw it so hard at my head that

and sba sybrina fulton has a powerful message for those who don't appreciate the meaning of tolerance. >> trayvon martin could have been me 35 years ago. >> obama is the president. >> there is a hustle going on in the civil rights industry. >> i don't know if i have used the word tolerant. i don't care for that word myself. >> facts about clutching purses. >> and a woman clutching her purse. >> you got to stop young black women from having babies out of wedlock. >> obama is all about creating chaos. >> the most divisive form of politics. >> it's not being challenged by anybody but me. >> no one is forcing bill o'reilly to be such an [ bleep ]. >> i stand by the decision. george zimmerman got away with murder. >> this guy is a mall cop. >> what would you like to say to his parents. >> i feel like i let them down. >> please use my tragedy, please use my broken heart to say to yourself, we cannot let this happen to anybody else's child. ♪ ♪ ain't no love in the heart of the city ♪ >> we are following developingnous out of california where the mayor of san diego has just held a rather biz

and sba sybrina fulton has a powerful message for those who don't appreciate the meaning of tolerancevon martin could have been me 35 years ago. >> obama is the president. >> there is a hustle going on in the civil rights industry. >> i don't know if i have used the word tolerant. i don't care for that word myself. >> facts about clutching purses. >> and a woman clutching her purse. >> you got to stop young black women from having babies

majority of which are shawl businesses as defined by sba these companies are very diverse but they havell one thing in common. they all bring to market liquid fuels such as gasoline, diesel, heating oil, biofuel, jet fuel and kerosene. our member companies are gauged in the transport, storage and sail of refined products on both the wholesale and retail level. they supply gasoline to convenience stores, diesel to truck stops, lubricants to industry and heating oil to millions of customers. not only are these companies primary suppliers of fuel they also own and operate over 80,000 retail facilities. they are also specialists in serving farmers, railroads marinas and airports with fuels they need. petroleum marketing companies do not benefit from high gasoline or diesel prices because they operate in such a transparently competitive environment, higher wholesale prices must be absorbed by retailers until street prices catch up. in order to remain competitive, retailers usually offer the lowest price for gasoline to generate volume and customer traffic in the store. when prices are unusua

the majority of which are small businesses as defined by sba. his companies have one thing in common, they all bring to market liquid fuels, such as gasoline, diesel, heating oil, biodiesel, and kerosene. our companies are engaged in that transport stores on both the wholesale and retail level. not only are these companies primary suppliers of fuel, they also own and operate over 30,000 retail facilities. iny are also specialist serving farmers, machinists, and airports with what they need. the companies do not benefit from high gasoline or he so operate inause they such a transparently competitive environment, prices must be absorbed by retailers. competitivecape retailers offer the lowest price for gasoline. prices are unusually high, customers often reduce their store purchases and some retailers struggled with credit line limits. both companies are rack buyers. in the industry, wholesale autos is loaded on terminal backs, approximately 1200 terminals in the united states. companies permitted with low pot must have good credit standing and a

sba, the commerce offices around the country to insure that they were trained and capable of providing small and medium-sized businesses with the kind of advice they need about how to begin to export, how to evaluate a market and how to navigate their ways through the various procedures they need to navigate. so this has been a major priority of ours. in tpp itself we have a small and medium-sized business chapter and the objective there is to be able to look back at it. pp as it is being implemented to insure that the benefit of tpp are also going to small and medium-sized businesses and to make adjustments as appropriate. so this is a high priority for us. we agree these are the drivers of jobs in the united states. and we think there's much more at that we can do to help these companies become part of the global economy. >> thank you very much. we had a great relationship with ambassador kirk and look forward to working with you. i yield back. >> all right. thank you. mr. reed. >> thank you, mr. chairman and thank you, ambassador, for being here today and i offer my congratulations

this is sba time for the fourth circuit? fourtha time for the circuit. ?s this a comfort zone case >> he said he is more comfortable. >> he said it is somehow more clear.>> that's right. >> we have a few minutes left. can you take two or three minutes? i mentioned whether or not the roberts court ought to be thought as pro-business.there were important class action cases on the docket. it was complicated. i wonder if you could give us this. >> there are four class action cases. if you look at the business cases, this is a pro-business court because of various decisions involving businesses. i do not agree necessarily. they are statutory construction cases. a lot depends on your federalism and things like that.are statutory interpretation. usually these will come up in the context of antitrust cases, class actions, state portions of action. discrimination cases, retaliation cases. three of these came out in favor of the defendant. the last of which was a case involving american express. the principal, the one that cannot in favor of the plaintiff you did no