SBA Programs Targeted for Overhaul

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00014010-sba-programs-targeted-for-overhaul/

The Small Business Administration has received approval from lawmakers to revamp many of its programs.

According to a story running on WebCPA.com, the Senate Small Business Committee gave its blessing to a three-year re-authorization of programs to hone the agency’s disaster loan efforts and minority small business development.

The approval comes on the heels of heavy criticism as a result of delays in its disaster loan programs following Hurricanes Katrina and Wilma.

Under the revamp, the SBA would to create a new “bridge loan” program providing states federal guarantees on loans provided to assist with disaster relief. Those businesses affected by significant increases in energy costs would be provided up to $1.5 million in loans.

SBA Programs Targeted for Overhaul

Unknown Author

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