Is SBA S.O.L.?
With a general lack of respect from lawmakers and entrepreneurs alike, some say the agency has outlived its usefulness. Can the SBA be saved?
People usually complain, loud and long, when a populargovernment agency is faced with dramatic budget cuts. So whatexplains the deafening silence after the Bush administration'sinitial budget slashed funding for the SBA by 40 percent, to $540million? Small-business-minded senators rode to the rescue,restoring $264 million to a budget resolution in hopes ofprotecting the 7(a) Loan Guaranty Program and a venture capitalprogram for businesses in economically depressed areas.
Still, some of the dramatic changes survived: Small businesseswill pay twice as much-$2,800-in fees for their guaranteed loans,and for the first time, Small Business Development Centers (SBDCs)will start charging entrepreneurs for counseling.
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