Sbas Budget For Fiscal Year 1995 Hearing Before The Committee On Small Business House Of Representatives One Hundred Third Congress Second Sessio

Author : United States; Congress; House Business
Publisher :
ISBN 13 : 9781330637531
Total Pages : 108 pages
Book Rating : 4.6/5 (375 download)

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Download or read book Sba's Budget for Fiscal Year 1995 written by United States; Congress; House Business and published by . This book was released on 2015-07-03 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Sba's Budget for Fiscal Year 1995: Hearing Before the Committee on Small Business, House of Representatives, One Hundred Third Congress, Second Session, Washington, DC, February 24, 1994 The committee met, pursuant to notice, at 10 a.m., in room 2359-A, Rayburn House Office Building, Hon. John J.LaFalce (chairman of the committee) presiding. Chairman LaFalce. The committee will come to order. This morning the Small Business Committee meets to receive testimony on the budget request of the Small Business Administration for fiscal year 1995. We are pleased to have before us in support of this request the Administrator of the SBA, the Honorable Erskine Bowles. This budget request reflects very tough choices which have been made, and thus we are especially pleased to have the administrator before us to explain the rationale. The Congress appropriated budget authority for SBA for 1994 in the sum of $798 million. The request for 1995 is $806 million. Since this is approximately the cost to the agency of the locality pay increase which the agency must absorb, the budget request is basically to straight line SBA and not even to give it a cost-of-living adjustment. On the positive side, the administration proposes increases and initiatives: Doubling the size of the certified development company program to $2.1 billion; a major increase in the new SBIC participating security to $500 million; agency participation in empowerment zones; a first step to provide relief from the onerous 503 prepayment penalty; and maintenance of a high level of 7(a) loan guarantees. In order to pay for these items without a budget increase, however, there is a downside. It would be required to, according to the SBA proposals: Eliminate all direct loans, including economic opportunity, handicapped, disabled veterans, 8(a), and the purchase of preferred stock from specialized SBIC's; elimination of the regular surety bond guarantee program and reliance upon major sureties participation in the new pilot preferred surety bond guarantees program; a major increase in disaster loan interest rates, for most borrowers a doubling; imposition of fees for counseling through the small business development center program, loan servicing actions and the sale of documents; elimination of the National Women's Business Council and a substantial cut in funding for the women's demonstration program; and elimination of the small business institute program and the Central European small business development center pilot program, amongst others. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.