Small Business Committee Reviews SBA’s 7(a) Loan Program

WASHINGTON— Officials from the Small Business Administration (SBA) told members of the House Small Business Committee today that they are working diligently to make sure small businesses can get the capital they need to grow their companies while conducting proper oversight of the 7(a) loan program, SBA’s most common loan program, to maintain a zero subsidy cost to the taxpayer. “As the 7(a) Program grows in terms of loan volume, loan amount, and the Congressionally-authorized loan limit, we owe it to the taxpayers and the small businesses invo... [...]

SBC Urges GAO to Examine SBA’s Office of International Trade’s (OIT) Grant Program

WASHINGTON – House Small Business Committee Chairman Steve Chabot (R-OH) sent a letter yesterday to the Honorable Gene Dodaro, Comptroller General of the United States at the Government Accountability Office (GAO) requesting he examine the Small Business Administration’s (SBA) Office of International Trade’s (OIT) State Trade and Export Promotion (STEP) Grant Program. “Because it is a grant-making program, the Committee wants to ensure that taxpayer-funded grants are being spent appropriately. In that vein, the Committee has concerns that SBA o... [...]

ICYMI: Good News: Increased Health Care Options for Small Businesses?

WASHINGTON - This week, the Centers for Medicare and Medicaid Services (CMS) announced that small businesses can enroll their employees directly in a health insurance company instead of having to do it through Obamacare’s Small Business Health Options Program (SHOP). Wall Street Journal: White House Closes a Health-Care Enrollment Option WSJ Excerpt: “Our goal is to reduce ACA burdens on consumers and small businesses and make it easier for them to purchase coverage,” Seema Verma, the administrator of the Centers for Medicare and Medicaid Serv... [...]

ICYMI: Key Witness at House SBC Hearing Featured in Glamour

ICYMI: Key Witness at House SBC Hearing Featured in Glamour WASHINGTON - On May 3, Carolyn Rodz, Founder and CEO of Circular Board, a virtual accelerator, spoke before the House Small Business Committee to discuss empowering small businesses through the accelerator model. This week, Carolyn was featured in Glamour, talking about how she and fellow entrepreneur Elizabeth Gore, the entrepreneur-in-residence of Dell Inc, created Alice, the first AI platform for women entrepreneurs. Alice will be a virtual platform where women can find answers to ... [...]

Chairman Chabot Visits Local SBDC

CINCINNATI—House Small Business Committee Chairman Steve Chabot (R-Ohio) visited the Ohio SBDC this week at the Greater Cincinnati Urban League – Union Institute and University. The event was held to hear more about how the program operates and the effect it’s had on small businesses in the community. “SBDCs are an important resource for small businesses and entrepreneurs, and we’re lucky to have them in the Cincinnati region. From credit information to business plan advice this program is here to help start-ups get on their feet, and to help ... [...]