Interagency

A proposed rule published today for comment in The Federal Register by the U.S. Small Business Administration would adjust the size definition of small businesses in the transportation and warehousing sector to reflect changes in marketplace conditions in those sectors.  

The proposed revisions would increase the revenue-based size definition businesses must meet to qualify as small businesses in 22 industries of the transportation and warehousing sector. As part of its ongoing comprehensive review of all size standards, the SBA evaluated all industries in this sector that have revenue-based size standards to determine whether the size standards should be retained or revised.  

The U.S. Small Business Administration has approved an initial group of six community-based, mission-focused lenders to start accepting and processing Community Advantage loan applications from small business borrowers immediately, the agency announced today.

In recognition of Earth Day on April 22^nd, I wanted to talk to you about conservation and our efforts to create environmental jobs and promote green technology.

Conservation means making sure the limited resources we use to power our homes and car and produce materials are used more responsibly. It means maximizing efficiencies and doing more with less—areas in which minority-owned businesses excel. Thankfully, while we may have a finite amount of coal or oil, our entrepreneurial capacity is infinite. Our transition toward a more sustainable system provides countless opportunities for innovation in green industries. 

Green is also the color of money, and what’s good for the environment is good for the economy. Working towards environmental sustainability creates news jobs, new markets, and new industries. Minority-owned businesses can find excellent opportunities retrofitting houses and offices to be more energy efficient, constructing wind turbines, providing green recycling and disposal services, and more.

Small businesses that have previously filed for bankruptcy are no more burdened than other small firms by poor cash flow, high health insurance costs, or excessive taxes, and they attain similar firm sizes, according to a study released today by the U.S. Small Business Administration’s Office of Advocacy. However, they have about a 24 percent higher likelihood of being denied a loan and are charged interest rates at least 1 percent higher than other firms. The report finds that firms owned by African and Latino Americans are even more likely to be denied loans and charged higher interest rates.
 
“Small businesses filing for bankruptcy have an opportunity for a new start. This new start is hampered by the challenges of obtaining new loans. This can impede innovation and job creation,” said Chief Counsel for Advocacy Winslow Sargeant.