the u.s. small business administration. the small business administration covers not only san francisco proper but the bay area. the severed his third district is responsible for a business loan portfolio of 12,000 loans worth $4.2 billion. in 2009, the sba approved $500 million in lending. next, we have the executive director of the san francisco small business office. she was in san francisco in 1986 to open the buffalo exchange limited store, and in the 13 years she worked for buffalo exchange, tennis district manager, she held her open the company from four to 11 stores. in 2009, the mayor appointed her as executive director to the office of small businesses. next, we have the ceo of opportunity funds. he has combined his background as a community organizer with an education from stanford to develop an innovative, not-for- profit financial incision that uses market principles to affect systemic change. it operates one of the nation's largest individual development, programs, a leading provider of micro loans in californi

i suggested they contact the office of small business. i would like to put out there that this is such a great opportunity to highlight san francisco. and then my one take away from the meeting was, wouldn't it be great if we had some outlet in china, and we have an office dedicated to working with china sf. china sf has been an initiative that works with large businesses but there is no reason they could not also -- our small businesses and small local manufacturers could not develop some kind of out what in china, particularly as china is developing and interested in things american. >> commissioner adams: next item? >> the general public comment. >> commissioner adams: seeing none,. >> want to -- i want to extend an invitation to you. they are interested in finding out what the city is doing in regard to small businesses. i will be meeting with them at 9:30 a.m. to review what we're doing to promote small business. i invite you to attend this meeting. it is in room 201 at city hall. >> commissioner adams: is there a motion to adjourn? >

in the small business just started that has been the recipient along with some 27 other small businesses that have worked really hard to get to a place where they can be and allow the city to contribute and help. we did not hear a lot of times -- we hear a lot of complaints about how the city has not been doing things, but thanks to our small business commission, which is here today, and they're wonderful work and their director who has been advising me on a number of fronts -- their wonderful work and their director who has been advising me on a number of fronts, and supervisor wiener, who had a chance to open up a farmer's market in glen park with me yesterday. we never do it alone. whenever our city is working together, we have to find people who know how to communicate with small businesses, drill down to what they need, and then work with our policy makers like the small business commission and their staff, but really help in figuring out what it is that a limited amount of money -- and it is really limited when you are only talking about $680,000 in very tight economic times -- to

more time and input from the business community. this item has now been scheduled for july 14 at government audit and oversight. at this time, we do not have indication there is going to be in the amendment or modification. limited life performance -- i want to let you know that this item was also heard that the entertainment commission and the planning commission. both commissions recommended approval, including all the nc district and south of market. supervisor elsbernd has said he wants to include the west portal district, so now that will be included. it is my understanding that supervisor kim is looking at some modifications for south of market around the nc area, and definitely areas around the west of soma area. but that is still being formulated. this item has not been scheduled yet in committee. i think it is probably due to waiting for those amendments to come forward. very pleased that all three commissions have the same recommendation. that is good. the others i will let you read. i want to provide some updates on their

i think we owe that to the businesses. we owe that to the taxpayers of the city and county of san francisco. and, you know, the last thing i would say is that i look forward to hearing from everyone who is here today. the purpose of this hearing is to see what people have to say. i am very proud that we in san francisco can say that we are the first city that had universal health care, but i do not think that we can continue to say the unless we close this loophole. because the ordinance is not working the way that it should work because of a very small number of people who are exploiting this loophole. with that, colleagues, i do not know if you have colleagues -- comments or questions, but we can proceed to hear from the city economist, mr. egan. >> good morning, supervisors. this morning, our office issued an economic impact report on this matter, and i am going to go over some of the highlights of our report for you now. you have already heard and discussed some of the key points of the legislation's, so i will not go i

and finally, the director of the business improvement district. [applause] here in san francisco, on a beautiful, sunny day, it is time to celebrate the innovative spirit of san francisco. we innovate social policy, housing, the environment, on transportation and technology. we innovate when it comes to the weather. we call this summer, here in san francisco. and when it comes to the public way, it is hard to think about innovation. it was billed years ago and it is hard to change, at least that is what some people think. although much of the public rights of way in san francisco take up 25% of our city, they were built generations ago, in a different time to serve different needs with different sensibilities, largely built for people to pass through, as opposed to being in. we are changing that in the city and we are showing that the environment can change for the better. what we have here today is an exemplar of that. i will let the other speakers tell you more specifically what we are talking about today, but i want to thank some of the folks, b

to support the business. also, they relied on home equity lines of credit, which in many cases do not exist anymore, also as a source for financing their business. as far as doing public contracting, one thing about public contract in that you can count on is the city of san francisco will stay in business and pay its debt, just later than you would like it to be. when you're doing public contract thing, if you will, cash cycle -- when you do the work and when you get paid is something you have to factor into your understanding of capital needs. so you have to figure that into the process. usually, that is figured into the pricing. but it is also the case that would you also probably need is a line of credit. depending on whether you feel your credit situation is where you want to go to a bank like wells fargo or another regulated bank, and line of credit, or work for a working- capital type of loan, which is something you look to do, the opportunity fund. you probably want to try both avenues. as far as your

then the business is finally able to access capital based on the performance of the business. >> my credit score is terrible, i run an ice cream shop generating a lot of cash. how long do i need to be in business and show or how long does it have to do well to go to you to get money? >> typically, we look for a year of activity. not for long. the other thing, too, is stop worrying about your credit score. it's irrelevant to the performance of your business. what matters, are you generating customers in your shop? if you are, you should be able to access capital. >> this is all online. i apply online. give you my fancials. >> we have 500 distribution partners in the united states. you can go to ondeckcapital.com. our system pulls thousands of pieces of information to create the full financial credit. >> up to $100,000. >> up to $100,000. the interest rate is higher than at a bank, but shorter term loan. >> shorter term and it's paying down every day. they need something where they can borrow, pay it down and ready to borrow again. costs substantially less. >> in the long term. all right. th

as i mentioned, it is the hearing for -- for business and put. leslee it is not on the report but it is in your binder. we are exploring and having recommendations provided on we talked about a new logo for the office at our commission retreat. we're going to move forward with that. we're working on the redesign for the website so this is a good time to begin to engage in what is the identity of the office with the commission and the small business assistance center and taking a look at the way other departments deal with their department identity that has multifacetes to the department. it will go through the outreach committee. i will make sure the commission is briefed on any information as it comes through. that concludes my report. if there is any questions. >> there is implementation in 2012 -- as of that date, we will not be seeing these or is it going through further scrutiny? do we know? i am thinking, if that is the end i will see these telephone directories outside san francisco -- i do not think we will see the same numbers. >> my gues

, like the american and asian companies that like to have business in amsterdam. it is a real nice place to stay. experts like to live in amsterdam, and is accessible from all parts of the world. it is also very important case of cycling. what irony said, 2.2 million and happens, but the last line may be the most important, about 120 kilometers per day traffic jams. that is qu7?) a lot. this distance is not more than 25k. we have a real problem. that is not good for business. for us, it is active transport, really important as a solution for being accessible. ok, does it work? yes. this is the city. at the red lines, these are the congestion. this is the pattern of workers who go to work in the morning and in the afternoon. most of the workers come from outside of the city of amsterdam. they come mostly by car, but also a big part from public transport. what was the conclusion of all the businesses? if we go on like this, we have a real big problem in one, two years, maybe a little bit longer, we will not have any mobility anymore in our own region.

number of businesses and the livelihoodsses. >> thank you. are there any questions? at this time, we will not open it up for public comment. >> good afternoon, supervisors. i'm troubled by the fact that you have five seats and five applicants. now you have four seats and four applicants. if you look in your agenda, you will see that every appointment on your agenda, there is one applicant for one seat. it seems to me that we should be doing more outreach to the community to get more applicants for these seats. second of all, i do support -- we work in the tenderloin. regarding the other applicants,

the computation. that and more coming up next on "your business."on the computat. that and more coming up next on "your business." >>> small businesses are revitalizing the economy. and american express open is here to help. that's why we are proud to present "your business" on msnbc. >>> hi there, everyone. i'm j.j. ramberg and welcome to your business where we give you tips and advice to help your business grow. treasury secretary timothy geithner talked about a decline? consumer spending and a drop in small business optimism during an appearance before the house small business committee this week. the focus of the hearing was the difficulties small businesses are having getting funding. geithner blamed the recession, specifically citing the impact on construction businesses and community banks. the secretary said the administration is trying to help pass things like tax breaks and regulatory reform. he urged congress to help give owners more access to credit. >> we've already approved ten states for the state credit initiative including the announcement today tha

we have been evaluating and looking at and trying to learn the business. with the help of my cousin who has extensive experience has managed and knows from running the bar and the club, i have the management experience. >> have you been to shine when it was opened? >> three times. >> how long did you stay? >> until 1:30 a.m. and we have gone. we have thoroughly evaluated and looked at -- >> i have deep concerns for people who have no experience and you will forgive me. you were a busboy and a bartender and you have worked with the bar. i have deep concerns about people who take on the news and decide to manage them and they have zero experience managing the lounge, and nightclub, where there is entertainment, any of that. all the management in the world, this is a different animal. i know -- it is a different animal. it is not like managing any other thing, including a restaurant. that is why i asked you what you did at avalon. and what you did at vanguard. what you did there is not experience as managing the business. as managing the floor. you do not have

number of businesses and the livelihoodthose businesses. >> thank you. are there any questions? at this time, we will not open it up for public comment. >> good afternoon, supervisors. i'm troubled by the fact that you have five seats and five applicants. now you have four seats and four applicants. if you look in your agenda, you will see that every appointment on your agenda, there is one applicant for one seat. it seems to me that we should be doing more outreach to the community to get more applicants for these seats. second of all, i do support -- we work in the tenderloin. regarding the other applicants, they are stakeholders to will economically benefit c on anyba. -- they will economically benefit on any cba. the need more people who don't have an economic interest but. thank you. >> good afternoon. i would like to thank supervisor kim with moving forward with the appointments. we look forward to working with the supervisors on this and all the things going on in mid market. we support the advisory committee nominee

we are talking about only 13% of the businesses using the services we are talking about. >> let me try tore- summarize -- let me try to summarize. the details i gave earlier -- president o'brien: let me stop you. the 90% is not a problem at all, right? and the 3% and 7% -- does the problem manifest through both of those, or just one of them? >> i believe supervisor campos's legislation has not tended to have an impact on the money allocated to healthy san francisco. those who meet the spending requirements through that would not be impacted. the only thing it would impact is the 7% of the money allocated to reimbursement plans. president o'brien: go ahead. thank you. >> the second way we have been trying to talk about this -- that would be the number of employers who the majority of their expenditures go to reimbursement -- 29% of employers use a reimbursement account in some way, shape, or form. one related point is to say that it is absolutely right that there are a number of variations and varieties of irs-recognized accounts. there are flexible spending accounts, health savings acc

the good news, though, for businesses like you are describing, internet business, is that the capital requirements for that type of business is generally small. you are able to get yourself further along and share in revenues with a smaller amount of credit need. that is where we see a lot of businesses and personal service or internet business get started, and generate revenues and be able to show growth without needing any capital, like a brick and mortar business might. >> my name is terry said. i have a retail business in san francisco for 22 years. i have a 5 04 -- 504 loan. it took me three years to get. we need more capital. i tried to get a line of credit from wells capital. i was decline. where does someone like myself go? i have a loan, i need additional funding. >> did you try through the sba? >> 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 p

holiday on the business side and not the employee side. rget and help our businesses and put it on the businesses . balance sheet and we did not do that. i think it is pretty audacious for the president and gu as well to say businesses have all of that cash. they want to have a value . the president doesn't like self interest. he likes self sacrifice. that is why it is in a intregal role you don't have political pull you are screwed. >> that means they came out this week and supported boeing. in the fight in south carolina and he came out in support of beaing. i will not defend big corporate ceo's. that's not the point. i think we have to look at the reality of our 1.6 trillion dollars that is sitting and not sent at all. if we can't have more stim tim and not going to increase revenue by raising taxes, how are we going to start to turn the economy around it is not just small businesses corporations it is 9x -- 981 billion that banks are sitting on. (talking all at once.) >> it is not a matter of stop complaining, it is hiring. where does t