Update on Small Business Loans
- Good article on Small Business Loans and how large companies
are getting the $.
Subject: Additional Information on S. 2300
Here is some additional information on S. 2300.
The U.S. Senate Bill S. 2300 was introduced to the Senate Committee on Small Business & Entrepreneurship by John F. Kerry (D-MA) Chair of the Committee and Olympia J. Snowe (R-ME) Ranking Member. The bill was voted on and passed UNANIMOUSLY and is on its way for debate and vote on the Senate floor. We anticipate this bill to be voted on before the adjournment on December 14th.
In 2006, the federal government spent $450 Billion in contracts. Of that amount, $132 Billion went to small businesses. Of the $132 Billion, Texan small businesses received 4.95% or $6.5 Billion dollars. When this bill passes the opportunity for Texan small businesses to make more money working with the Federal Government will increase.
The Federal Government is supposed to spend 23 percent of the total value of all prime contracts with legitimate American small businesses. Since the beginning of the Small Business Administration, they have not been able to reach that goal. The Inspector General conducted an internal audit of the Small Business Administration and released report 5-15 in March of 2005. In this report he stated "One of the biggest challenges facing the Small Business Administration and the entire Federal Government today is that large businesses are receiving small business procurement awards and agencies are receiving credit for these awards."
If you would like more history or information, please visit our website at www.asbl.com. You can also feel free to call me for any more information at 707-789-9575.
Victor Vera | Associate Member
American Small Business League
707.789.9575w | 707.789.9580f
Click below for more information on S. 2300 and your Representative's contact information.
http://americansmallbusinessleague.blogspot.com/