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Small Business Administration

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Title: PowerPoint Presentation Author: Gary Shellehamer Last modified by: vwharris Created Date: 2/15/2007 6:54:58 PM Document presentation format – PowerPoint PPT presentation

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Title: Small Business Administration


1
Small Business Administration
  • Economic Recovery Act
  • Presentation

2
Economy Recovery
  • Vianna Harrison
  • Lead Lender Relations Specialist
  • U.S. Small Business Administration
  • Georgia District Office
  • Atlanta, GA 30303
  • Tel. 404-331-0100 / Ext. 607

3
Economy Recovery
  • The Recovery Act takes a comprehensive approach
    to several problems facing small business today
  • Provides entrepreneurs and lenders financial
    relief from the current economic crisis that will
    help encourage borrowing and lending to all small
    businesses, including start-ups
  • Offers businesses access to the capital and the
    tools they need to drive economic recovery and to
    create and to retain jobs
  • Helps unlock credit markets for small businesses
  • Temporarily eliminates some loan fees for
    borrowers and lenders

4
Economic Recovery Act
  • The bill is divided into nine key components,
    including
  • Temporary elimination of some loan fees
  • Temporary 90 percent guarantees
  • Secondary Market Liquidity for Section 7(a)
    loans, SBAs largest loan guarantee program,
    which services a wider variety of small business
    borrowing needs
  • Americas Recovery Capital (ARC) Stabilization
    Loans
  • Expanded Microloans
  • Surety Bond Program Expansion
  • Secondary Market for First Mortgages associated
    with Section 504 Certification Development
    Company loans, which support small business
    capital-asset and real-property investments
  • Expanded Refinancing Project for Section 504
    loans pending approved regulations
  • SBIC Program Expansion

5
Economic Recovery Act
  • SBAs Loan Programs Impacted
  • Temporary Elimination of Some Loan Fees for
  • 7(a) Guaranty Loans
  • 504 Loans
  • Offers tax benefits
  • Fee eliminations are retroactive to February
    17,2009
  • Guarantees up to 90 percent on some types of 7(a)
    loans to qualified small businesses
  • Temporary relief of some loan fees and 90
    percent guarantee provisions will apply to
    approximately 8.7 billion of 7(a) loans and 3.6
    billion of 504 loans

6
Economic Recovery Act
  • Development of New Loan Program Designed to
  • Temporarily assist brokers-dealers who buy
    guaranteed 7(a) loans by
  • Helping to restore the secondary market for 7(a)
    loans
  • Treasury will commit up to 15 billion in TARP
    funds to further help unfreeze the small business
    lending market by purchasing pooled 7(a) loan
    guarantees and 504 first mortgages
  • Benefits community banks, credit unions and other
    small lenders

7
Economic Recovery Act
  • SBAs Micro-loan Program
  • Provides extra funding for micro-lenders across
    the country
  • Provides 50 million in new SBA micro-loans to be
    delivered by non-profit community-based
    intermediary lenders
  • Loans can be up to 35,000
  • Loans come with technical assistance and training
    for every borrower.

8
Economic Recovery Act
  • Americas Recovery Capital (ARC) Loan Program
  • (Pending completion of Regulations)
  • Offers deferred-payments loans of up to 35,000
    backed 100 percent by SBA to viable small
    businesses that need help making payments on an
    existing qualifying loan for up to six months
  • Gives small businesses more temporary financial
    relief, gets their cash flow back on track to
    maintain existing jobs and ultimately create new
    jobs
  • Repayment does not begin until 12 months after
    the loan is fully disbursed.
  • ARC loans cannot be made to cover payments on an
    existing loan that was guaranteed by SBA before
    February 17, 2009.

9
Economic Recovery Act
  • Surety Bond Program Limits
  • Provides support to small contractors competing
    for billions of dollars in federal, state, and
    local contracts that are needed to help grow the
    economy
  • Raises the maximum amounts for contracts that
    qualify for SBA surety bonds to 5 million, and
    up to 10 million for certain contracts

10
Economic Recovery Act
  • Section 504 First Mortgages
  • A new program to guarantee Section 504 program
    first mortgages will provide fresh liquidity to
    the 504 first mortgage market
  • SBA will establish a process for private sector
    entities to apply for federal guarantees on pools
    of first lien position Section 504 loans.
  • A new Section 504 refinancing program will help
    expand existing long term projects by working
    with Certified Development Companies to
    restructure and refinance certain existing loans
    into SBA-backed 504 loans

11
Economic Recovery Act
  • Small Business Investment Company
  • Expands SBAs Small Business Investment Company
    (SBIC) debenture program to assist this source of
    venture capital. The SBIC office is working on
    the necessary regulations and notices for
    licenses alerting them that they may be eligible
    for additional SBA financial assistance, and they
    will be required to invest 25 percent of their
    financing dollars in smaller enterprises

12
Economic Recovery Act
  • For more information on SBAs other capital
    access, business, technical or procurement
    assistance programs, contact
  • SBA / GDO
  • vianna.harrison_at_ba.gov
  • or Visit our website at www.sba.gov/ga
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