the main sba programs are guaranteed loan programs, and we act essentially as a guarantor, insuring the bank that if you make a loan to a small business, the business is not able to pay the loan, the sba will pay the bank a share of that long, typically 75% or 80%. a bank like wells fargo, for example, which is the largest sba lender in the country. when the lender makes the loan to you, they come to us and say that your business, for a variety of reasons, may not be strong enough to get a loan without a guarantee. it might be a business that is too young or is a type of business -- say, restaurants -- that are a little riskier than they want to deal with, or you do not have the kind of collateral a lender is looking for. "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 sa

it operates one of the nation's largest individual development, programs, a leading provider of micro loans in california, and has a robust community real estate finance unit. next, we have the ceo of ne community federal credit union. since 1988, she has been the ceo of northwest community federal credit union. under her watch, the credit union group to over 1600 members. it has become the national model for institutions seeking to provide financial education and banking services to the low- income communities. last but not least, we have our conditional lender represented here by wells fargo. mark cyrus is the senior fda banker for the region -- the senior sba banker. he held businesses choose the best loans for the growing business and focus on a comprehensive understanding of their goals for their business. mark is responsible for helping entrepreneurs with sba loans every step of the way. i would like each of you to speak a little bit about what your organization does and, more importantly, address the audience here and let them know what your looking for when you are hoping to fund th

repayments, from the small business loan program, from loan repayments from economic development, programs that are administered through the redevelopment agency. for reprogram dollars, that $400,000-plus, from a combination of grants that for one reason or another do not actually come to fruition. for example in this past year, there was a capital grant for a grocery store in the tenderloin for $200,000 because they were not able to locate that site. we recapture those dollars and put them out again for the same program and wanted to make sure you have the opportunities to see how those dollars would be used. supervisor chu: thank you. why don't we go to public comment on this item? these three items do not have a budget analyst report associated with them. >> good morning, supervisors. i am program director at central city hospitality house. i wanted to ask for your support for the funding and also to thank you for the hospitality house. we provide our shelter program and our employment services are funded out of this funding, but more

we have maximized the student loan program on a federal level by getting rid of, interestingly enough, the banks that were making $60 billion a year servicing those loans. we decided that we could do that as a federal government. so we are all looking at ways to tighten our belt. how many of you think your parents do not spend enough money on things for you? [laughter] how many of you think they are taking that money and stalking away for your college education? [laughter] you know they are. that is really what this is all about -- prioritizing what is important and putting the money away. as much as you want that new ipad 2, think about how much you will save by putting that money away, gaining some interest on it now, but using it for your college education. most kids i talk to in college to they have hundreds of thousands of dollars in loans that they are saddled with that they end up having to pay over a long time into their adult lives. you will want to be there -- you do not want to be there. and you certainly do not want to get these credit cards that you might find at a giants

with the loan program. this is a serious issue when the u.s. is bidding for two/thirds of its oil from the foreign trade opportunities and there are six million less barrels available in that pool because china's wrapped it up with contracts, we're not the only ones bidding. lot of countries will be bidding. it will go to the highest priced buyer, won't it? but there won't be enough. because five years on from now ladies and gentlemen, we need 20 million barrels a day to get out of bed in the morning in this country. and producing less now than the path they are on. when you think about our arab friends, think about how wealth in the world is distributed and is being redistributed. redistributed through the purchase and sale of oil. opec nation's currently at $110 a barrel have over $120 trillion of value in the ground. $120 trillion of value in the ground. compare that to the entire market cap of the new york stock exchange. which includes as you know all the major companies. that equals $45 trillion. 120 versus 45. let's add euronext. $20 tri

graves, respect to the treasury lending program, first of all, so i can understand, the 702 institutions that are now participating in the program, how many loans have actually been issued? >> we've actually not made investment decisions on any of those 700 institutions that have applied. no loans, yet, have come from capital that comes out of the program. but you -- part of the of the -e deadline for this program was september 27th. we expect that all applications that meet the eligibility criteria will have been approved by september 27th so we'll get the dollars out the door to the community bank to do the hard business of supporting businesses. >> have you -- so it will be this fall when small businesses can actually receive -- >> that's a good question. we believe that beginning within the next few weeks, dollar wills begin to go out the door to community banks and they will then unlend based on the incentives built in. >> basically what i was saying earlier about the tap refinancing, i'd like to have you address that. because ultimately what is suggests is that there's going to be minimal new small business lending that you are going to a

with the loan program. this is a serious issue when the u.s. is bidding for two-thirds of its oil from the foreign trade opportunities and there's six million less barrels available in that pool because china's wrapped it up with futures contracts. we're not the only ones bidding. lot of countries will be bidding. it will go to the highest priced buyer, won't it? but there won't be enough. because five years on from now, ladies and gentlemen, we need 20 million barrels a day to get out of bed in the morning in this country. and we'll be producing less then than we are now on the path that we're on. when you think about opec in all of this and think about our arab friends, think about how wealth in the world is distributed and is being redistributed. redistributed through the purchase and sale of oil. opec nations current $110 a barrel have over $120 trillion of value in the ground. 120 trillion dollars of value in the ground. compare that to the entire market cap of the new york stock exchange which includes, as you know, all the major companie

graves, with respect to t the treasury lending program, first of all, the 702 institutions that are now participating in the program, how many loans have actually been issued? >> we've actually not made investment decisions on any of those 700 institutions that have applied, so no loans yet have come from capital that comes out of the program, butart of the -- the deadline for this program was september 27th, and we expect that all applications that meet the eligibility criteria will have been aapproved by september 27th, so we'll get those dollars out the door to the community banks so they can do the business of supporting small businesses. >> so it would be this fall, i mean when small businesses could actually receive the actual dollars? >> that's a good question. we believe that, beginning within the next few weeks, dollars will begin to go out the door to community banks and that those banks will en lend based on the incentives based on the small business jobs. >> based on what i was saying in my opening comment, ultimately what it suggests is that there's going to be minimal new small business lending that you can actually

the sba program. it allowed california to be the beneficiary of having hired guarantees for banks, no sba loans fees. in the first quarter of the year, lending in california was the most we ever did. we did $1 billion worth of small business loans in december, for example. that is something we have never done before. but that was a one time funding piece. going forward, on the loan side, we are not going to see the cuts have an impact on sba lending. the big issue we see are two issues. the value of california real- estate, stability of businesses in california, and the confidence of our workers looking for credit. those are variables that would be important. >> thank you. we have a question in the back. >> good afternoon. thank you to nancy pelosi and for you panelists for providing this informative seminars. for our young company, we are a distribution company. i just heard you mention that you do not loan for the sale of alcohol. is that separate from distribution of wine? >> s.p.a. -- sba makes loans to winery's, stores that sell wine. i am not exactly sure what role you play in distribution. the

the sba program. it allowed california to be the beneficiary of having hired guarantees for banks, no sba loans fees. in the first quarter of the year, lending in california was the most we ever did. we did $1 billion worth of small business loans in december, for example. that is something we have never done before. but

for instance, increasing the maximum loan limits for the sba, 7a and micro loan programs. t expands export technical assistance and trade promotion. it includes tax measures like those to permit general business credits to be carried back five years and taken against the alternative minimum tax. unfortunately, i had serious misgivings about the treasury small business lending fund that was included in the legislation on the floor. i was particularly concerned by congressional budget office wanting while analyzing the lending fund with the most comprehensive methodology, it could cost taxpayers more than $6.2 billion. furthermore, lack week, the treasury inspector general's office issued a report on the implementation of the lending fund which you suggests that the program is tepid at best. according to the report, treasury expects to distribute only one-half to two-thirds of the authorized $30 billion. as of april 18th, only 626 lending institutions out of more than 7,000 nationwide had applied to participate in the initiative. only $9.2 billion in funding had been requeste

the businesses say i'll locate here but what's next door to me? they're usually small businesses. we have a very good small business loan program with the small business commission and they have extended a lot of the federal funds that were given to us with loan programs. to help small businesses start, help them do training and then we recently signed in the jobs now too program, which allows what we started last year. do you remember the jobs now program. the jobs now program allows employers to hire persons that have been identified through our human services agency that were -- that have been trained and they're job ready. if you hire from a qualified pool of people that we identified, we will pay, historically it's been $2,500 of your salary. jobs now too we will pay the first $5,000 of their salary to the small business that's hire them. that's fantastic offer because you can hire somebody in the first three months of their job to help you establish your business is on the government's hand. that's a great opportunity. and we still have some -- up to 300 slots available. we announced that last week. and that's aimed at sm

oberstar: but even a decade after it was enacted, the reagan administration came in and cut the grant program to a loan program. and funding diminished over a period of time. now, we still have 1/3 or more of the nation's streams and lakes that don't meet the standards of the clean water act. we have to advance the cause. that is the big challenge ahead of us. you just don't think of raw sewage in waterways in a developed country, and yet, that's what we have, and not just in pittsburgh, but all over. narrator: pittsburgh is situated at the confluence of the allegheny, monongahela, and ohio rivers. these three rivers are vital for industry, recreation, and drinking water. and each year, billions of gallons of combined sewer overflows discharge directly into those rivers. hecht: we're now having to face the consequences of the choice that was made to put in combined sewer systems. narrator: in 1994, the government adopted a combined sewer overflow policy to reduce csos nationwide. cities with combined sewer overflows now face an enforcement action called a consent decree. under a consent decree, a city

for instance, increasing the maximum loan limits for the sba, 7a and micro loan programs. it expands export technical assistance and trade promotion. it includes tax measures like those to permit general business credits to be carried back five years and taken against the alternative minimum tax. unfortunately, i had serious misgivings about the treasury small business lending fund that was included in the legislation on the floor. i was particularly concerned by congressional budget office wanting while analyzing the lending fund with the most comprehensive methodology, it could cost taxpayers more than $6.2 billion. furthermore, lack week, the treasury inspector general's office issued a report on the implementation of the lending fund which you suggests that the program is tepid at best. according to the report, treasury expects to distribute only one-half to two-thirds of the authorized $30 billion. as of april 18th, only 626 lending institutions out of more than 7,000 nationwide had applied to participate in the initiative. only $9.2 billion in funding had been request

graves, with respect to t the treasury lending program, first of all, the 702 institutions that are now participating in the program, how many loans have actually been issued? >> we've actually not made investment decisions on any of those 700 institutions that have applied, so no loans yet have come from capital that comes out of the program, but part of the -- the deadline for this program was september 27th, and we expect that all applications that meet the eligibility criteria will have been aapproved by september 27th, so we'll get those dollars out the door to the community banks so they can do the business of supporting small businesses. >> so it would be this fall, i mean when small businesses could actually receive the actual dollars? >> that's a good question. we believe that, beginning within the next few weeks, dollars will begin to go out the door to community banks and that those banks will then lend based on the incentives based on the small business jobs. >> based on what i was saying in my opening comment, ultimately what it suggests is that there's going to be minimal new small business lending that you can actua

one of my favorite issues, the renewable loan guarantee program. i believe you have just $200 million in the budget for that that you have sent letters to renewable energy developers who applied for loan guarantees, saying their applications were on hold because the department of environment would have a hard time making these of timber 30 as construction starts requirement. i do not know how we developed wind and solar power without a very aggressive loan guarantee program. i thought we had. -- that thought we had it. putting these projects on hold really concerns me because i don't know anybody that can go without a loan guarantee. >> we looked at -- this has to do with the fact that if you did not have at a certain time, a conditional loan that goes through the approval process, you have conditions that would have to be mad and you have to start on the project before september 30th. we looked at the portfolio of our projects. with these conditional loans, we could see we could use the remaining funds, but we did not think it would be fair to thos

so there is a charity bond guarantee, structured differently than the sba guaranteed loan program. >> i am a big fan of marketing. let us know if you have a small business in there that we can patronize. thank you. -- in that area that we can patronize. >> i have a company here in san francisco. like all small businesses, working for the city of san francisco is difficult. cash flow is a problem. invoices' get paid anywhere from 60 to 120 days. being cash for, i do not know how that would help me qualify for a loan, but it is a problem. so my question is, where do you go, if you do not have a lot of collateral, you do not have a lot of credit, have the you go about securing a line of credit? i have a lot of contracts for the next two years, but as my company grows, i cannot keep up with payroll. >> we have made loans in those situations. if you have contracts and can show us how they are going to be paid, if your credit is good, we would certainly like to take a look at that. we do not currently offer -- i should be careful. it is on and off whether we have a true line of credit. some

the vision people have about increasing it. that means looking at our revolving loan program and being more creative and putting more money into it so small businesses can utilize small business loans to help with the passat improvement programs and other things. i want to reflect the mayor's office. when we are talking with larger businesses we are attracting throughout the city, we can perhaps ask them to take on an agreement to help small local businesses in the city as well and be dead go-between between creating relationships between big and small. even a company like wells fargo, bank of america or other larger businesses can actually when they are establishing their offices, look to some of the neighborhood corridors and support neighborhood programs. i also want to suggest that we have a planning process that invites the community in these major corridors to work with our city in a very tight way. what i am bothered by in some of my walks is some of those long time vacancies we know have been there not just for a few weeks, but for months, if not years. they are problematic for a number of reasons. why don't we have a m

. >> we have more work to do so we're trying to expand the loan modification program to reach more peopleons of homeowners like logan are underwater in their properties. a new nationwide survey shows first quarter home prices declined 3%. the sharpest drop since 2008. the housing and urban development secretary says so far the administration helped grant nearly 4 million loan modifications for struggling homeowners but admits it remains fragile. >> there are encouraging signs and there are also signs of caution. we have accelerating job growth. that should help the housing market lift. the issue is that there was so much damage done in the crisis. >> some housing experts are trying to look at the silver lining. >> the decline occurring at the moment is in a single digit. this isn't a major decline, and in some markets based on the local economy, the prices are actually firming up. >> optimism logan is hanging onto. >> i'm hopeful, i always am. i'm a survivorer. >> and still on the economy, one state is hoping to boost cotton production in the u.s. to help create jobs. tom foreman takes us

it capital adequacy is just to generate profit center capital wise approach and the more months of this program uses the loan growth is quite just and as a result banks train travel to generate substantial work for foot the bill with the russian banks and now the increasing support of the financial markets except they some profits for the rest secure its position as in one of the building for the capital it was racial or not will be is if you feel you will see the level in terms of one to five percent which is very high and this might see this signal for the ship all this if they can for example peak rootedness for their banking business this is not exactly the case because despite the high capital i think with russia as the moment of this high level last number which destroys this ratio is a family chronic problems. i find out a lot from. the courage to close call me is in a period of rapid change the martian nations of brazil russia india and particularly china are quickly overtaking the stubbornest economies but mark from reinventing bretton woods committee says this doesn't mean the world will be divided

one is on hydrogen, and one is on the sunshot initiative, and the third on the loan guarantee program. you've proposed to cut the hydrogen in fy-12. that's a cut of $70 million from the 2010 level. you zeroed out all funding for fuel cells in the fossil energy program. we gather your advisory committee was dismayed by that. i think it's important that you tell us what your current view is on hydrogen technology and whether it can be successful or not. >> sure. first, in terms of the fuel cells, we do have a research program for stationary fuel cells. there has been very good progress made in fuel cells and in the longevity in fuel cells and bringing down the cost. the idea of a hydrogen economy is something that is very hopeful, but the fundamental issue is we need a source of hydrogen that's going to be -- that will make good economic sense. right now our hydrogen comes from reforming natural gas. when you reform natural gas, you create hydrogen and carbon dioxide, so in terms of the carbon benefit, there is none unless you sequester the carbon dioxide. in order for that to happen, w

graduated from the harvard business school, beginning with the position at american express where she was on loan to meche corps, the pioneering program to engage young people as teachers in public schools nationwide. whereas in 1963 san francisco volunteers has promoted volunteerism among community members in our public schools and since 1979 san francisco education fund has created important private sector partnerships to expand resources to classrooms. drawing from the distinct strength of each organization, under the leadership of ms. spinali, the two respected organizations were merged into a single san francisco education fund. therefore be it resolved that the board of education for the san francisco unified school district commends lisa spinali for her distinguished tenure at the san francisco education fund and wishes her its best on her future endeavors. congratulations, lisa. >> thank you for that reading. president mendoza: before we present there this to you, we'd like to invite any public comment on this. so if there's any public speakers on behalf of lisa you're welcome to come up as we all stare at your staff. you don'