Access to Capital

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  • Connecting Small Businesses with their Communities
    Posted in Press Releases on April 12, 2018 | Preview rr
    Tags: Tax Reform , Health, Access to Capital, Energy, Oversight and Regulatory Reform, Rural America, Contracting, International Trade, Workplace Issues, Technology, Disaster Assistance, Environment

    WASHINGTON – Today, Members of the Committee on Small Business Subcommittee on Investigations, Oversight, and Regulations heard from a panel of experts on entrepreneurial development and the interdependent relationship between a community and small businesses. “With 29.6 million small businesses employing 47.8 percent of the workforce, small business success is essential to the economic well-being of both individual communities throughout the country as well as our nation overall. While there ar... Read more

  • House Committee on Small Business Recognizes SBDC Day
    Posted in Press Releases on March 21, 2018 | Preview rr
    Tags: Access to Capital

    WASHINGTON – Today, House Small Business Committee Chairman Steve Chabot (R-OH) and Ranking Member Nydia Velazquez (D-NY) recognized Small Business Development Center (SBDC) Day. SBDC’s offer counseling, training and technical assistance in all aspects of business creation and management. “SBDC’s began in 1976 with only eight participating universities. Today, the program is the largest and most utilized entrepreneurial development program, boasting over 1,000 centers across the country, within ... Read more

  • Chairman Chabot Supports Knight Bill to Ensure Small Contractors Get Paid Quickly
    Posted in Press Releases on March 20, 2018 | Preview rr
    Tags: Access to Capital, Contracting

    WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement in support of Subcommittee Chairman on Contracting and Workforce Steve Knight’s (R-CA) bill, the Accelerated Payments for Small Businesses Act, encouraging federal agencies to make payments to small business prime contractors within 15 days of sending an invoice: “While the Office of Management and Budget's (OMB) accelerated policy of making sure small businesses get paid by the fe... Read more

  • Bipartisan, Bicameral 7(a) Legislation Unanimously Advances House, Senate Small Business Committees
    Posted in Press Releases on March 15, 2018 | Preview rr
    Tags: Access to Capital

    WASHINGTON - Yesterday, House Small Business Committee Chairman Steve Chabot (R-OH), Senate Small Business and Entrepreneurship Committee Chairman Jim Risch (R-ID), House Ranking Member Nydia Velázquez (D-NY) and U.S. Senator Jeanne Shaheen (D-NH) applauded the passage of their Small Business 7(a) Lending Oversight Reform Act of 2018 from both the Senate and House small business committees. This bipartisan, bicameral legislation will increase the Small Business Administration’s (SBA) oversight a... Read more

  • Regulatory Reform and Rollback: The Effects on Small Businesses
    Posted in Press Releases on March 7, 2018 | Preview rr
    Tags: Access to Capital, Oversight and Regulatory Reform

    WASHINGTON—Today, Members of the House Committee on Small Business heard from a panel of stakeholders on the effects of Congress and the President’s regulatory reform and rollback efforts for small businesses and how to improve and lighten the regulatory burden. “Small business owners must navigate what is often a tangled web of complex, confusing, and costly regulations. A start-up company will spend on average over $83,000 in regulatory costs alone in the first year. Small business owners also... Read more

  • Occupational Hazards: How Excessive Licensing Hurts Small Business
    Posted in Press Releases on February 27, 2018 | Preview rr
    Tags: Access to Capital, Workplace Issues

    WASHINGTON – Today, Subcommittee Chairman Dave Brat (R-VA) and the Subcommittee on Economic Growth, Tax, and Capital Access held a hearing on occupational licensing and its excessive impact on American small businesses. “The percentage of the workforce that requires an occupational license has increased from less than 5 percent in the 1950s to almost 33 percent today,” said Subcommittee Chairman Dave Brat. “But one of the most telling statistics about licensing is that while there are 1,100 occu... Read more

  • Examining How One-Size-Fits-All Regulations Affect Community Banks and Credit Unions
    Posted in Press Releases on February 27, 2018 | Preview rr
    Tags: Access to Capital, Oversight and Regulatory Reform

    WASHINGTON – Today, Chairman Steve Chabot (R-OH) and the Committee on Small Business held a hearing to examine how red tape and bureaucracy affect community banks and credit unions. Specifically, Committee Members examined a Government Accountability Office (GAO) report that identified a number of financial regulations that hurt smaller financial institutions. “The local community bank and the neighborhood credit union play an outsized role in lending to small businesses. This relationship betwe... Read more

  • Private Sector Options for Small Business
    Posted in Press Releases on February 14, 2018 | Preview rr
    Tags: Access to Capital

    WASHINGTON—Today, Chairman Steve Chabot (R-OH) and the Committee on Small Business heard testimony from Steven Strongin, Head of the Global Investment Research Division at Goldman Sachs, and two small business entrepreneurs. Both J.R. Foster, President and CEO of the Robert Louis Group, and Jessica Johnson-Cope, President of Johnson Security Bureau, Inc., are graduates of the Goldman Sachs 10,000 Small Businesses program. “Our small businesses — the true engines of our economy — unfortunately co... Read more

  • Strengthening SBA’s 7(a) Loan Program
    Posted in Press Releases on January 17, 2018 | Preview rr
    Tags: Access to Capital

    WASHINGTON—Today, Chairman Steve Chabot (R-OH) and the Committee on Small Business heard from a panel of key stakeholders about the Small Business Administration’s (SBA) 7(a) Loan Program and H.R. 4743, the Small Business 7(a) Lending Oversight Reform Act of 2018. “The economy is improving. Treasury numbers are moving in the right direction. The tax reform law is being implemented. However, we continue to see that lending and borrowing remain flat. This becomes more acute for the nation’s smalle... Read more

  • Bipartisan, Bicameral Small Business Committee Leaders Introduce Legislation Protecting Integrity of 7(a) Loan Program
    Posted in Press Releases on January 9, 2018 | Preview rr
    Tags: Access to Capital

    WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH), Senate Small Business and Entrepreneurship Committee Chairman Jim Risch (R-ID), and respective Ranking Members Nydia Velázquez (D-NY) and Jeanne Shaheen (D-NH) joined together to introduce the Small Business 7(a) Lending Oversight and Reform Act of 2018. This bipartisan, bicameral legislation will increase the Small Business Administration’s (SBA) oversight authority over the 7(a) Loan Program. “Many small busine... Read more