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Testimony of Susan Walthall
Acting Chief Counsel for Advocacy
U.S. Small Business Administration

U.S. Senate Committee on Small Business and Entrepreneurship

Date:April 27, 2010
Time: 10:00 A.M.
Location: Room 428-A
Russell Senate Office Building
Washington, D.C.

WASHINGTON, D.C. – A better market for U.S. exports was the highlight of the fading economy of 2007, according to The Small Business Economy report released today by the U.S. Small Business Administration’s Office of Advocacy. Small businesses, like other firms, faced growing challenges, as housing starts fell and energy prices increased. A year that showed strong growth in the second and third quarters ended with fourth quarter growth down an annualized 0.2 percent.

If you are seeking funding for your business venture, use this section to outline your requirements.

Your funding request should include the following information:

If a requester has filed an appeal and/or a statement of disagreement, but they still believe that SBA has not handled their request in accordance with the Privacy Act, they have the right to challenge the agency’s decision in a lawsuit. The appellate response from this office will inform the requester that they may file their suit in the District Court of the United States in the district in which they reside or have a principal place of business, the district in which the relevant agency records are maintained, or the District of Columbia.

This letter is the final goals letter for 2008/2009. Below is part of the letter. Please see the attached PDF for the entire letter.

January 7, 2008

The Honorable Michael Chertoff

Secretary of Homeland Security

245 Murray Lane

Washington, DC 20528

Dear Secretary Chertoff:

There are several ways you can make a payment on your disaster loan - by phone, by mail, and online.

Payment by Phone

To make a payment, contact the SBA Customer Service Center toll-free at 1-800-659-2955 (TTY: 1-800-877-8339). There is no fee for this service.

Payment by Mail

You may send a check or money order made out to the U.S. Small Business Administration. Please include your loan number on your check and your payment coupon, if available.  Mail payments to:

SBA
P.O. Box 3918
Portland, OR  97208-3918

With the help of a SBA loan, Bill Foley purchased a community landmark: the German Village Music Haus.

The business has been in existence for more than half a century, and Bill worked there as a luthiere (a person who works on stringed instruments) for 26 years before purchasing the German Village Music Haus.

By extending credit to your customers, you give them the option to purchase products or services today and pay for them at a later date. When your business accepts credit card payments and personal checks or invoices customers, it is essentially extending credit on the assumption that customers have the funds to pay for the transaction.

Every four years, SBA releases a strategy document for the current and upcoming years. The FY 2014-2018 Strategic Plan contains only slight modifications to the FY 2011-2016 Strategic Plan.  This Strategic Plan provides a framework that will strengthen, streamline, and simplify SBA’s programs while leveraging partnerships across the government and private sector to maximize the tools small business owners and entrepreneurs need to strengthen our economy, drive American innovation, and increase our global competitiveness.

This report provides statistics on Year to Date (YTD) SBA Business Loan Approval Activity comparisons for Fiscal Years 2009, 2010 and 2011 for the period ending 01/31/2011.

To view the full report, please click on the below attachment.

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