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Frequently Asked Questions on SBA’s Small Business Innovation Research Program and Venture Capital Investment Q: Has the SBA recently changed its interpretation of eligibility requirements for SBIR applicants with venture capital investment? A: No. However, in 2005, the SBA amended its regulations to broaden the eligibility requirements for SBIR applicants. To receive an SBIR award, the applicant must: 1. Be organized as a for-profit concern; 2. Have no more than 500 employees, including its affiliates, and; 3. Be at least 51% owned and controlled by one or more individuals who are U.S. citizens or permanent resident aliens, or it must be at least 51% owned and controlled by another for-profit concern that is at least 51% owned and controlled by one or more individuals who are U.S. citizens or permanent resident aliens. 13 C.F.R. § 121.702 SBA CHIEF ROLLS OUT INNER CITY ENTREPRENEURSHIP INITIATIVES WASHINGTON – Today Steve Preston, head of the U.S. Small Business Administration (SBA), announced a new initiative to boost entrepreneurship in 10 American inner cities as the latest component of its strategy to advance entrepreneurship in underserved markets. The Agency will partner with the Initiative for a Competitive Inner City to develop a program to support the financial and developmental needs of emerging inner city companies. The design and city selection process will begin shortly, with implementation expected early next year. SBA and Sam’s Club To Host Veterans Small Business Matchmaking Conferences This Fall in San Antonio and Sacramento On-Site Matchmaking Sessions Will Highlight the Contracting Process With Private and Federal Government Contracting Officers And Procurement Officials WHAT: Several hundred veteran-owned small businesses are expected to attend and participate in on-site Veterans Small Business Matchmaking Conferences scheduled this fall in San Antonio, Texas and Sacramento, Calif. The conferences will educate veterans about federal contracting through a series of workshops, and introduce veteran small business owners to private and government procurement officials in a matchmaking setting. The government spends nearly $78 billion each year purchasing goods from small businesses. Veterans, who own about 15 percent of small businesses nationwide, have served the country ably, and often have excellent business skills that carry over from military experience. WHO: SBA Administrator Steven Preston, Sam’s Club senior executives, and others to be announced, will speak at the conferences. GSA Administrator Lurita Doan has been invited to speak. WHEN: Monday - - October 29, 2007 (San Antonio, Texas) Friday - - November 9, 2007 (Sacramento, California) SBA FAQ on Women’s Business Center Program and Legislation included in the U.S. Troop Readiness, Veterans’ Care, Katrina Recovery and Iraq Accountability Appropriations Act of 2007 1. What is the Women’s Business Center program? SBA’s Women’s Business Center (WBC) program is administered by its Office of Women’s Business Ownership to promote the growth of women-owned businesses by providing business training and technical assistance, helping with access to credit and capital, and identifying federal contract and international trade opportunities. There are 98 WBCs nationwide, located throughout 44 states and two territories. Last year, more than 129,000 clients received assistance through the WBC program. SBA to Extend Export Express for One More Year Agency will Determine Whether to Continue Program Past 2008 WASHINGTON, D.C. – The U.S. Small Business Administration announced that it will extend its Export Express pilot program through fiscal 2008. The announcement is in a Public Notice published in the Federal Register today. The Export Express Pilot Program was established in 1998 to assist small exporters with their financial needs, particularly those needing revolving lines of credit. Export Express terms and conditions closely follow those of the SBA Express loan guaranty, but carry the 75-85 percent guaranty of the standard 7(a) loan. SBA Releases Draft Strategic Plan for FY 2008 -- 2012 For Public Review and Comment WASHINGTON - The U.S. Small Business Administration (SBA) today released the draft Strategic Plan for Fiscal Years 2008 through 2012 for public review and comment. The draft Strategic Plan describes our mission, strategic goals, objectives, and means and strategies to achieve those goals. New SBA Recertification Regulations to Help Small Businesses Obtain Government Contracts Large Corporations to be Eliminated from Database Within One Year WASHINGTON - On June 30, new U.S. Small Business Administration regulations took effect that require companies with federal contracts to recertify their size status as "small businesses." These actions will increase opportunities for more small businesses to receive contracts from the federal government. SBA Scores Federal Small Business Procurement Efforts WASHINGTON - In an effort to increase the transparency and accountability in small business contracting, the U.S. Small Business Administration (SBA) today released its first-ever Small Business Procurement Scorecard. The Scorecard will help agencies measure their achievements and progress in making contracting opportunities available to small businesses, improve the accuracy of contracting data regarding small businesses, and provide the public the opportunity to assess agencies' performance in meeting these goals. SBA to Host Live Web Chat on International Trade for Small Businesses SBA’s Richard Ginsburg will answer questions Thursday, August 2, 2007, from 1:00 p.m. to 2:00 p.m., ET WHO: Richard Ginsburg, SBA’s acting deputy director for the SBA’s Office of International Trade will host the July Web chat on “International Trade and Your Small Business.” Ginsburg will answer questions about how the Office of International Trade can help small business owners compete in the global marketplace and assist small businesses export their products and services. BUSINESS OPPORTUNITIES EXPO Are you interested in better understanding how to contract with the government? Then you will not want to miss the Business Opportunities Expo 2007 on Tuesday, Oct. 16, 2007, hosted by NASA’s Kennedy Space Center. Government purchasing agents will attend to learn what local and national vendors have to offer. The Expo will be held from 9 a.m. to 3 p.m. in Cruise Terminal No. 4 at Port Canaveral, Florida. Myth/Fact: Is There a 5-Year Loophole in New SBA Contracting Rules? Dateline: Washington, D.C. Myth: The new “five-year” recertification policy will allow federal agencies to continue to report and take credit for billions of dollars of contract awards, earmarked for small businesses, that were made to large, multinational corporations until 2012. Fact: There is no “five-year” loophole. SBA Approves First Loans Under New Patriot Express Initiative Lending Partners Coming On Board Quickly, Approving Loans Rapidly Loans Go To Military Service Members, Veterans, and Spouses WASHINGTON, D.C. – The U.S. Small Business Administration (SBA) today announced that the agency and its network of lenders have already approved more than 20 loans under the Patriot Express Pilot Loan Initiative for military community entrepreneurs, rolled out one month ago. Business.gov Website Expands With New Features WASHINGTON – Busines.gov continues to expand its offerings of resources and tools to help small businesses comply with federal government regulations. SBA and Trump University Launch Innovative Online Training Course for Entrepreneurs WASHINGTON - The U.S. Small Business Administration and Trump University have teamed together to develop a new free online training course on How to Start a Business on a Shoestring Budget, designed to help entrepreneurs understand how to take their small business ideas to market despite limited outside resources SBA Begins Processing Applications Today Under Patriot Express Pilot Loan Initiative Positive Initial Response from Lending Partners Initiative Aimed at Military Service Members, Veterans, and Spouses WASHINGTON, D.C. – The U.S. Small Business Administration (SBA) today began accepting applications from lenders on behalf of borrowers in its new Patriot Express Pilot Loan Initiative for military community entrepreneurs. Patriot Express is a streamlined loan product based on the agency’s highly successful SBA Express Program, but with enhanced guaranty and interest rate characteristics. SBA Reopens Disaster Loan Program to Small Business Owners Affected by 2005 Gulf Coast Hurricanes WASHINGTON – Gulf Coast small business owners who missed last July’s application deadline for the U.S. Small Business Administration’s Economic Injury Disaster Loans made available during the 2005 hurricane season have another opportunity to apply, SBA Administrator Steven Preston announced today. SBA Hosts Live Web Chat on “Youth Entrepreneurship” Arthur Woods, Young Entrepreneur and Business Owner will answer questions Thursday, June 28, 2007, from 1:00 p.m. to 2:00 p.m., ET SBA Announces New Patriot Express Loan Initiative Program Focuses on Military Community Including Veterans, Service-disabled, Active-duty in transition, Reserve and Guard, Spouses and Related Groups U.S. Small Business Administration and Business Software Alliance Join Forces to Educate Small Businesses on Proper Software Management WASHINGTON, D.C. — Today the U.S. Small Business Administration (SBA) and the Business Software Alliance (BSA), an organization dedicated to promoting a safe and legal digital world, announced a partnership to educate nearly 100,000 small businesses on proper software management and the risks associated with the use of unlicensed software. Homeowners, Renters and Businesses are Urged To Prepare for Disaster before it Strikes WASHINGTON – With above-average activity predicted for the 2007 Atlantic Hurricane season beginning June 1, the U.S. Small Business Administration is urging homeowners, renters and businesses across the country to take steps now to protect their lives, property and businesses. SBA’S LIVE WEB CHAT WILL HIGHLIGHT DISASTER READINESS FOR SMALL BUSINESS OWNERS Madelyn Flannagan and Rick Jenkins will answer questions Thursday, May 24, 2007 from 1 p.m. to 2 p.m., EDT WHO: Madelyn H. Flannagan, vice president of Education and Research for the Independent Insurance Agents and Brokers of America, Inc., and Rick Jenkins of the U.S. Small Business Administration’s Office of Disaster Assistance will host the SBA’s May Web chat “Disaster Readiness for Small Business Owners.” The Web chat is simultaneous with Hurricane Preparedness Week, May 20-26, 2007. Anoop Prakash Named Associate Administrator For Entrepreneurial Development WASHINGTON, D.C. – Anoop Prakash has been named associate administrator for the SBA’s Office of Entrepreneurial Development (OED), the agency announced today. Prakash brings a wealth of expertise in business development, having served most recently as vice president of Strategy and Business Development for LexisNexis Special Services, Inc. in Washington, D.C., where he was responsible for strategy, marketing, and alliances for the company. MYTH VS FACT: SBA and GOVERNMENT CONTRACTING Myth: Large companies, including large, multinational corporations are taking away federal contracts specifically intended for small businesses. Fact: Several things are happening here, but large businesses taking contracts that have been set aside for small business isn’t a real factor. SBA Launches Free Online Course & Assessment WASHINGTON - The U.S. Small Business Administration recently introduced a new online training resource for budding entrepreneurs to provide the fundamentals of starting a small business. The Small Business Primer Strategies for Success online training is a free course designed to assist individuals who are thinking about starting a small business or who are in the early stages of running a business. President Bush Proclaims National Small Business Week, Praises Small Business Owners’ Willingness to Take Risks for a Better Life WASHINGTON – President George W. Bush praised America’s small business owners and employees, proclaiming the week of April 22-28 as a time to recognize “their important role in ensuring that America remains the economic leader of the world.” SBA Hosts Live Web Chat on “Ask the SBA” U.S. Small Business Administration -- News Advisory -- Administrator Steven C. Preston will answer questions Monday, April 30, 2007, from 1:00 p.m. to 2:00 p.m., ET SCORE Helps Veteran, Guard & Reservist Entrepreneurs SCORE “ Counselors to America’s Small Business” provides resources and expertise to maximize the success of entrepreneurs and small business owners nationwide. SCORE is America’s premier source of free and confidential advice for existing and emerging small businesses. If you are a small business owner or are thinking about starting a small business, SCORE can help. Proposed SBA ’08 Budget Ups Small Business Financing to $28 Billion, Reduces Loan Fees, Increases Most Programs President Bush today announced a proposed FY 2008 budget for the U.S. Small Business Administration that increases financing capacity by 40 percent over business lending in FY 2006, reduces fees on loans, and provides increased funding and staff for SBA’s ongoing operational reforms. SBA Announces National Celebration of Small Business Week: April 23 – April 24 The U.S. Small Business Administration will honor America’s top entrepreneurs – and name the National Small Business Person of the Year – at national ceremonies in Washington, D.C., during Small Business Week, April 23-24. The two-day celebration will honor the small business accomplishments of individuals and business owners at four major award events. SBA Loans to Small Business Exporters Surpass $1 Billion Record Lending Doubles Number of Loans Since 2003 The U.S. Small Business Administration made a record number of export loans in FY 2006 and surpassed the $1 billion mark for the first time in the history of the program. U.S. Small Business Administration, U.S. Postal Service Announce Internet Tools for Entrepreneurs The U.S. Small Business Administration and the U.S. Postal Service today unveiled a new Internet tool for small business owners, designed to deliver business solutions to entrepreneurs. SBA Introduces Podcasts for Business Owners The U.S. Small Business Administration has announced the arrival of podcasting for small business owners on a range of topics to help entrepreneurs on the road to starting a new business. SBA Launches New Markets Lending Initiative Program is Aimed at Increasing Ownership in Inner Cities and Rural Areas SBA Grants Will Fund 19 New Women’s Business Centers, Continue Funding for 80 Existing Centers Women’s Centers Will Aid in the Development of Women-owned Businesses Business.gov Provides Federal Forms for Employers Facing January Tax Reports Helps Businesses Save Time and Money on Tax-Related Tasks WASHINGTON, DC, January 10, 2007 –Each January businesses bear responsibility for preparing W-2s and other tax-related employer tasks, an especially challenging duty for small businesses with fewer resources than larger businesses. SBA Administrator Proposes More Support for Veterans Agency Exceeds Three Percent Goal for Service-Disabled Veteran-Owned Small Business Contracting Q&A on Women-Owned Small Business Federal Contract Assistance Program from the U.S. Small Business Administration Questions and answers posed to the U.S. Small Business Administration regarding the Women-owned small business Federal Contract Assistance Program. |
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