{ "id": "R40985", "type": "CRS Report", "typeId": "R", "number": "R40985", "active": true, "source": "CRSReports.Congress.gov, EveryCRSReport.com, University of North Texas Libraries Government Documents Department", "versions": [ { "summary": null, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R40985", "source_dir": "crsreports.congress.gov", "type": "CRS Report", "formats": [ { "sha1": "6f5a1d8b0bd7f3eaa4f97c171b62d2949b220cd6", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/R/R40985/112", "filename": "files/2022-07-14_R40985_6f5a1d8b0bd7f3eaa4f97c171b62d2949b220cd6.pdf" }, { "format": "HTML", "filename": "files/2022-07-14_R40985_6f5a1d8b0bd7f3eaa4f97c171b62d2949b220cd6.html" } ], "title": "Small Business: Access to Capital and Job Creation", "source": "CRSReports.Congress.gov", "retrieved": "2022-08-17T04:03:33.552671", "date": "2022-07-14", "typeId": "R", "id": "R40985_112_2022-07-14", "active": true }, { "summary": null, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R40985", "source_dir": "crsreports.congress.gov", "type": "CRS Report", "formats": [ { "sha1": "ef753ccec5fb47fa35db3dd6a349377c5f1ef409", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/R/R40985/110", "filename": "files/2021-12-27_R40985_ef753ccec5fb47fa35db3dd6a349377c5f1ef409.pdf" }, { "format": "HTML", "filename": "files/2021-12-27_R40985_ef753ccec5fb47fa35db3dd6a349377c5f1ef409.html" } ], "title": "Small Business: Access to Capital and Job Creation", "source": "CRSReports.Congress.gov", "retrieved": "2022-08-17T04:03:33.551266", "date": "2021-12-27", "typeId": "R", "id": "R40985_110_2021-12-27", "active": true }, { "summary": null, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R40985", "source_dir": "crsreports.congress.gov", "type": "CRS Report", "formats": [ { "sha1": "2e0e6a53f2c99fbe18082f812e78b7597cb39535", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/R/R40985/108", "filename": "files/2021-06-23_R40985_2e0e6a53f2c99fbe18082f812e78b7597cb39535.pdf" }, { "format": "HTML", "filename": "files/2021-06-23_R40985_2e0e6a53f2c99fbe18082f812e78b7597cb39535.html" } ], "title": "Small Business: Access to Capital and Job Creation", "source": "CRSReports.Congress.gov", "retrieved": "2022-08-17T04:03:33.549960", "date": "2021-06-23", "typeId": "R", "id": "R40985_108_2021-06-23", "active": true }, { "summary": null, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R40985", "source_dir": "crsreports.congress.gov", "type": "CRS Report", "formats": [ { "sha1": "5b99299d975ff17388b6ef31d3632c1e3bc3c3b1", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/R/R40985/106", "filename": "files/2020-10-28_R40985_5b99299d975ff17388b6ef31d3632c1e3bc3c3b1.pdf" }, { "format": "HTML", "filename": "files/2020-10-28_R40985_5b99299d975ff17388b6ef31d3632c1e3bc3c3b1.html" } ], "title": "Small Business: Access to Capital and Job Creation", "source": "CRSReports.Congress.gov", "retrieved": "2022-08-17T04:03:33.548390", "date": "2020-10-28", "typeId": "R", "id": "R40985_106_2020-10-28", "active": true }, { "source": "EveryCRSReport.com", "id": 615010, "date": "2020-01-22", "retrieved": "2020-01-28T23:22:09.169451", "title": "Small Business: Access to Capital and Job Creation", "summary": "The U.S. Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty and venture capital programs to enhance small business access to capital; contracting programs to increase small business opportunities in federal contracting; direct loan programs for businesses, homeowners, and renters to assist their recovery from natural disasters; and small business management and technical assistance training programs to assist business formation and expansion. 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They advocate business tax reduction, reform of financial credit market regulation, and federal fiscal restraint as the best means to assist small business economic growth and job creation.\nOver the past several Congresses, several laws were enacted to assist small businesses, including\nP.L. 111-5, the American Recovery and Reinvestment Act of 2009 (ARRA), provided the SBA an additional $730 million, including $375 million to temporarily subsidize SBA fees and increase the 7(a) loan guaranty program\u2019s maximum loan guaranty percentage to 90%. \nP.L. 111-240, the Small Business Jobs Act of 2010, authorized numerous changes to the SBA\u2019s loan guaranty and contracting programs; provided $510 million to continue the SBA\u2019s fee subsidies and 90% maximum loan guaranty percentage through December 31, 2010; and provided about $12 billion in tax relief for small businesses.\nP.L. 111-322, the Continuing Appropriations and Surface Transportation Extensions Act, 2011, continued the SBA\u2019s fee subsidies and the 7(a) program\u2019s 90% maximum loan guaranty percentage through March 4, 2011, or until available funding was exhausted, which occurred on January 3, 2011.\nP.L. 112-106, the Jumpstart Our Business Startups Act, established a regulatory structure for startups and small businesses to raise capital through securities offerings using the internet through crowdfunding.\nP.L. 113-76, the Consolidated Appropriations Act, 2014, increased the annual authorization amount for the SBA\u2019s Small Business Investment Company (SBIC) venture capital program to $4 billion from $3 billion. \nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, authorized and made permanent, under specified conditions, the SBA\u2019s practice of waiving the SBAExpress loan program\u2019s one-time, up-front loan guaranty fee for veterans and increased the 7(a) loan program\u2019s FY2015 authorization limit from $18.75 billion to $23.5 billion. \nP.L. 114-113, the Consolidated Appropriations Act, 2016, expanded the projects eligible for refinancing under the 504/CDC loan guaranty program in any fiscal year in which the refinancing program and the 504/CDC program as a whole do not have credit subsidy costs, increased the SBIC program\u2019s family of funds limit (the maximum amount of outstanding leverage allowed for two or more SBIC licenses under common control) to $350 million from $225 million, and increased the 7(a) loan program\u2019s authorization limit to $26.5 billion for FY2016.\nP.L. 115-31, the Consolidated Appropriations Act, 2017, increased the 7(a) program\u2019s authorization limit to $27.5 billion for FY2017; P.L. 115-141, the Consolidated Appropriations Act, 2018, increased the 7(a) program\u2019s authorization limit to $29.0 billion for FY2018; and P.L. 116-6, the Consolidated Appropriations Act, 2019, increased the 7(a) program\u2019s authorization limit to $30.0 billion for FY2019.\nThis report addresses a core issue facing the 116th Congress: What, if any, additional action should the federal government take to enhance small business access to capital? It discusses the role of small business in job creation and retention, then provides an assessment of the supply and demand for small business loans and recently enacted laws designed to enhance small business access to capital by increasing either the supply of small business loans or the demand for small business loans, or both. It also examines recent actions concerning the SBA\u2019s budget and concludes with a brief overview of three legislative options available to address small business access to capital issues during the 116th Congress: wait-and-see, enact additional programs, or reduce and consolidate existing programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R40985", "sha1": "537aaef0625e84956ce81ead42f27c5ef1364b65", "filename": "files/20200122_R40985_537aaef0625e84956ce81ead42f27c5ef1364b65.html", "images": { "/products/Getimages/?directory=R/html/R40985_files&id=/1.png": "files/20200122_R40985_images_b38de8463ca53b999030e2ed915e54ee4bd40261.png", "/products/Getimages/?directory=R/html/R40985_files&id=/0.png": "files/20200122_R40985_images_ef11ad011155f6a1016bcd88513dc301c1bb4adb.png" } }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R40985", "sha1": "7997cff0d4a80ebd5a75f24226f48ba2bd773f54", "filename": "files/20200122_R40985_7997cff0d4a80ebd5a75f24226f48ba2bd773f54.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 602650, "date": "2019-07-16", "retrieved": "2019-12-20T17:03:36.773360", "title": "Small Business: Access to Capital and Job Creation", "summary": "The U.S. Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty and venture capital programs to enhance small business access to capital; contracting programs to increase small business opportunities in federal contracting; direct loan programs for businesses, homeowners, and renters to assist their recovery from natural disasters; and small business management and technical assistance training programs to assist business formation and expansion. Congressional interest in these programs has increased in recent years, primarily because assisting small business is viewed as a means to enhance economic growth.\nSome have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations and create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, reform of financial credit market regulation, and federal fiscal restraint as the best means to assist small business economic growth and job creation.\nOver the past several Congresses, several laws were enacted to assist small businesses, including\nP.L. 111-5, the American Recovery and Reinvestment Act of 2009 (ARRA), provided the SBA an additional $730 million, including $375 million to temporarily subsidize SBA fees and increase the 7(a) loan guaranty program\u2019s maximum loan guaranty percentage to 90%. \nP.L. 111-240, the Small Business Jobs Act of 2010, authorized numerous changes to the SBA\u2019s loan guaranty and contracting programs; provided $510 million to continue the SBA\u2019s fee subsidies and 90% maximum loan guaranty percentage through December 31, 2010; and provided about $12 billion in tax relief for small businesses.\nP.L. 111-322, the Continuing Appropriations and Surface Transportation Extensions Act, 2011, continued the SBA\u2019s fee subsidies and the 7(a) program\u2019s 90% maximum loan guaranty percentage through March 4, 2011, or until available funding was exhausted, which occurred on January 3, 2011.\nP.L. 112-106, the Jumpstart Our Business Startups Act, established a regulatory structure for startups and small businesses to raise capital through securities offerings using the Internet through crowdfunding.\nP.L. 113-76, the Consolidated Appropriations Act, 2014, increased the annual authorization amount for the SBA\u2019s Small Business Investment Company (SBIC) venture capital program to $4 billion from $3 billion. \nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, authorized and made permanent, under specified conditions, the SBA\u2019s practice of waiving the SBAExpress loan program\u2019s one-time, up-front loan guaranty fee for veterans and increased the 7(a) loan program\u2019s FY2015 authorization limit from $18.75 billion to $23.5 billion. \nP.L. 114-113, the Consolidated Appropriations Act, 2016, expanded the projects eligible for refinancing under the 504/CDC loan guaranty program in any fiscal year in which the refinancing program and the 504/CDC program as a whole do not have credit subsidy costs, increased the SBIC program\u2019s family of funds limit (the maximum amount of outstanding leverage allowed for two or more SBIC licenses under common control) to $350 million from $225 million, and increased the 7(a) loan program\u2019s authorization limit to $26.5 billion for FY2016.\nP.L. 115-31, the Consolidated Appropriations Act, 2017, increased the 7(a) program\u2019s authorization limit to $27.5 billion for FY2017; P.L. 115-141, the Consolidated Appropriations Act, 2018, increased the 7(a) program\u2019s authorization limit to $29.0 billion for FY2018; and P.L. 116-6, the Consolidated Appropriations Act, 2019, increased the 7(a) program\u2019s authorization limit to $30.0 billion for FY2019.\nThis report addresses a core issue facing the 116th Congress: What, if any, additional action should the federal government take to enhance small business access to capital? It discusses the role of small business in job creation and retention, then provides an assessment of the supply and demand for small business loans and recently enacted laws designed to enhance small business access to capital by increasing either the supply of small business loans or the demand for small business loans, or both. It also examines recent actions concerning the SBA\u2019s budget and concludes with a brief overview of three legislative options available to address small business access to capital issues during the 116th Congress: wait-and-see, enact additional programs, or reduce and consolidate existing programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R40985", "sha1": "9d5bef5893d89dc3cae85838bdbc32b25827edcf", "filename": "files/20190716_R40985_9d5bef5893d89dc3cae85838bdbc32b25827edcf.html", "images": { "/products/Getimages/?directory=R/html/R40985_files&id=/1.png": "files/20190716_R40985_images_f19c053cd0e4e8c2b6e19a62a7cc32845795f705.png", "/products/Getimages/?directory=R/html/R40985_files&id=/0.png": "files/20190716_R40985_images_3be1f7d5f007d4e21a2c07819c6133f8af3d846f.png" } }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R40985", "sha1": "07bb823dd656028f92c2897cd18481637a97b91c", "filename": "files/20190716_R40985_07bb823dd656028f92c2897cd18481637a97b91c.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 590630, "date": "2019-02-01", "retrieved": "2019-04-17T14:25:18.188079", "title": "Small Business: Access to Capital and Job Creation", "summary": "The U.S. Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty and venture capital programs to enhance small business access to capital; contracting programs to increase small business opportunities in federal contracting; direct loan programs for businesses, homeowners, and renters to assist their recovery from natural disasters; and small business management and technical assistance training programs to assist business formation and expansion. Congressional interest in these programs has increased in recent years, primarily because assisting small business is viewed as a means to enhance economic growth.\nSome have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations and create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, reform of financial credit market regulation, and federal fiscal restraint as the best means to assist small business economic growth and job creation.\nOver the past several Congresses, several laws were enacted to assist small businesses, including\nP.L. 111-5, the American Recovery and Reinvestment Act of 2009 (ARRA), provided the SBA an additional $730 million, including $375 million to temporarily subsidize SBA fees and increase the 7(a) loan guaranty program\u2019s maximum loan guaranty percentage to 90%. \nP.L. 111-240, the Small Business Jobs Act of 2010, authorized numerous changes to the SBA\u2019s loan guaranty and contracting programs; provided $510 million to continue the SBA\u2019s fee subsidies and 90% maximum loan guaranty percentage through December 31, 2010; and provided about $12 billion in tax relief for small businesses.\nP.L. 111-322, the Continuing Appropriations and Surface Transportation Extensions Act, 2011, continued the SBA\u2019s fee subsidies and the 7(a) program\u2019s 90% maximum loan guaranty percentage through March 4, 2011, or until available funding was exhausted, which occurred on January 3, 2011.\nP.L. 112-106, the Jumpstart Our Business Startups Act, established a regulatory structure for startups and small businesses to raise capital through securities offerings using the Internet through crowdfunding.\nP.L. 113-76, the Consolidated Appropriations Act, 2014, increased the annual authorization amount for the SBA\u2019s Small Business Investment Company (SBIC) venture capital program to $4 billion from $3 billion. \nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, authorized and made permanent the SBA\u2019s practice of waiving the SBAExpress loan program\u2019s one-time, up-front loan guaranty fee for veterans and increased the 7(a) loan program\u2019s FY2015 authorization limit from $18.75 billion to $23.5 billion. \nP.L. 114-113, the Consolidated Appropriations Act, 2016, expanded the projects eligible for refinancing under the 504/CDC loan guaranty program in any fiscal year in which the refinancing program and the 504/CDC program as a whole do not have credit subsidy costs, increased the SBIC program\u2019s family of funds limit (the amount of outstanding leverage allowed for two or more SBIC licenses under common control) to $350 million from $225 million, and increased the 7(a) loan program\u2019s authorization limit to $26.5 billion for FY2016.\nP.L. 115-31, the Consolidated Appropriations Act, 2017, increased the 7(a) program\u2019s authorization limit to $27.5 billion for FY2017.\nP.L. 115-141, the Consolidated Appropriations Act, 2018, increased the 7(a) program\u2019s authorization limit to $29.0 billion for FY2018.\nThis report addresses a core issue facing the 116th Congress: What, if any, additional action should the federal government take to enhance small business access to capital? It discusses the role of small business in job creation and retention, then provides an assessment of the supply and demand for small business loans and recently enacted laws designed to enhance small business access to capital by increasing either the supply of small business loans or the demand for small business loans, or both. It also examines recent actions concerning the SBA\u2019s budget and concludes with a brief overview of three legislative options available to address small business access to capital issues during the 116th Congress: wait-and-see, enact additional programs, or reduce and consolidate existing programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R40985", "sha1": "14abc1c47e042813a1be8cb37e7b28aef1d0da4a", "filename": "files/20190201_R40985_14abc1c47e042813a1be8cb37e7b28aef1d0da4a.html", "images": { "/products/Getimages/?directory=R/html/R40985_files&id=/1.png": "files/20190201_R40985_images_f19c053cd0e4e8c2b6e19a62a7cc32845795f705.png", "/products/Getimages/?directory=R/html/R40985_files&id=/0.png": "files/20190201_R40985_images_a36535b28a88162b5e01fe78c5ce6cee064a703c.png" } }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R40985", "sha1": "a405cd20893c43a950f4aef569344804207e30b0", "filename": "files/20190201_R40985_a405cd20893c43a950f4aef569344804207e30b0.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 588867, "date": "2018-12-17", "retrieved": "2018-12-19T13:58:09.067378", "title": "Small Business: Access to Capital and Job Creation", "summary": "The U.S. Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty and venture capital programs to enhance small business access to capital; contracting programs to increase small business opportunities in federal contracting; direct loan programs for businesses, homeowners, and renters to assist their recovery from natural disasters; and small business management and technical assistance training programs to assist business formation and expansion. Congressional interest in these programs has increased in recent years, primarily because assisting small business is viewed as a means to enhance economic growth.\nSome have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations and create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, reform of financial credit market regulation, and federal fiscal restraint as the best means to assist small business economic growth and job creation.\nOver the past several Congresses, several laws were enacted to assist small businesses, including\nP.L. 111-5, the American Recovery and Reinvestment Act of 2009 (ARRA), provided the SBA an additional $730 million, including $375 million to temporarily subsidize SBA fees and increase the 7(a) loan guaranty program\u2019s maximum loan guaranty percentage to 90%. \nP.L. 111-240, the Small Business Jobs Act of 2010, authorized numerous changes to the SBA\u2019s loan guaranty and contracting programs; provided $510 million to continue the SBA\u2019s fee subsidies and 90% maximum loan guaranty percentage through December 31, 2010; and provided about $12 billion in tax relief for small businesses.\nP.L. 111-322, the Continuing Appropriations and Surface Transportation Extensions Act, 2011, continued the SBA\u2019s fee subsidies and the 7(a) program\u2019s 90% maximum loan guaranty percentage through March 4, 2011, or until available funding was exhausted, which occurred on January 3, 2011.\nP.L. 112-106, the Jumpstart Our Business Startups Act, established a regulatory structure for startups and small businesses to raise capital through securities offerings using the Internet through crowdfunding.\nP.L. 113-76, the Consolidated Appropriations Act, 2014, increased the annual authorization amount for the SBA\u2019s Small Business Investment Company (SBIC) venture capital program to $4 billion from $3 billion. \nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, authorized and made permanent the SBA\u2019s practice of waiving the SBAExpress loan program\u2019s one-time, up-front loan guaranty fee for veterans and increased the 7(a) loan program\u2019s FY2015 authorization limit from $18.75 billion to $23.5 billion. \nP.L. 114-113, the Consolidated Appropriations Act, 2016, expanded the projects eligible for refinancing under the 504/CDC loan guaranty program in any fiscal year in which the refinancing program and the 504/CDC program as a whole do not have credit subsidy costs, increased the SBIC program\u2019s family of funds limit (the amount of outstanding leverage allowed for two or more SBIC licenses under common control) to $350 million from $225 million, and increased the 7(a) loan program\u2019s authorization limit to $26.5 billion for FY2016.\nP.L. 115-31, the Consolidated Appropriations Act, 2017, increased the 7(a) program\u2019s authorization limit to $27.5 billion for FY2017.\nP.L. 115-141, the Consolidated Appropriations Act, 2018, increased the 7(a) program\u2019s authorization limit to $29.0 billion for FY2018.\nThis report addresses a core issue facing the 116th Congress: What, if any, additional action should the federal government take to enhance small business access to capital? It discusses the role of small business in job creation and retention, then provides an assessment of the supply and demand for small business loans and recently enacted laws designed to enhance small business access to capital by increasing either the supply of small business loans or the demand for small business loans, or both. It also examines recent actions concerning the SBA\u2019s budget and concludes with a brief overview of three legislative options available to address small business access to capital issues during the 116th Congress: wait-and-see, enact additional programs, or reduce and consolidate existing programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R40985", "sha1": "368dcd02ce4ff4cb6c21a4f5e517a693f014d2a3", "filename": "files/20181217_R40985_368dcd02ce4ff4cb6c21a4f5e517a693f014d2a3.html", "images": { "/products/Getimages/?directory=R/html/R40985_files&id=/1.png": "files/20181217_R40985_images_f19c053cd0e4e8c2b6e19a62a7cc32845795f705.png", "/products/Getimages/?directory=R/html/R40985_files&id=/0.png": "files/20181217_R40985_images_a36535b28a88162b5e01fe78c5ce6cee064a703c.png" } }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R40985", "sha1": "58fac9342f68bd776375a47d9b6134c54ed855c7", "filename": "files/20181217_R40985_58fac9342f68bd776375a47d9b6134c54ed855c7.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 584967, "date": "2018-06-01", "retrieved": "2018-10-05T23:42:03.214627", "title": "Small Business: Access to Capital and Job Creation", "summary": "The U.S. Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty and venture capital programs to enhance small business access to capital; contracting programs to increase small business opportunities in federal contracting; direct loan programs for businesses, homeowners, and renters to assist their recovery from natural disasters; and small business management and technical assistance training programs to assist business formation and expansion. Congressional interest in these programs has increased in recent years, primarily because assisting small business is viewed as a means to enhance economic growth.\nSome have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations and create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, reform of financial credit market regulation, and federal fiscal restraint as the best means to assist small business economic growth and job creation.\nDuring the 111th Congress\nP.L. 111-5, the American Recovery and Reinvestment Act of 2009 (ARRA), provided the SBA an additional $730 million, including $375 million to temporarily subsidize SBA fees and increase the 7(a) loan guaranty program\u2019s maximum loan guaranty percentage to 90%; \nP.L. 111-240, the Small Business Jobs Act of 2010, authorized $30 billion for the Small Business Lending Fund to encourage community banks to provide small business loans ($4 billion was issued); $1.5 billion for the State Small Business Credit Initiative to provide funding to participating states with small business capital access programs; numerous changes to the SBA\u2019s loan guaranty and contracting programs; $510 million to continue the SBA\u2019s fee subsidies and 90% maximum loan guaranty percentage through December 31, 2010; and about $12 billion in tax relief for small businesses; and\nP.L. 111-322, the Continuing Appropriations and Surface Transportation Extensions Act, 2011, continued the SBA\u2019s fee subsidies and the 7(a) program\u2019s 90% maximum loan guaranty percentage through March 4, 2011, or until available funding was exhausted, which occurred on January 3, 2011.\nDuring the 112th Congress, legislation was enacted to enhance small business contracting opportunities, expand access to the SBA\u2019s surety bond guarantee program, amend the SBA\u2019s size standard practices, require a review and reassessment of the federal procurement small business goaling program, and expand small business mentor-prot\u00e9g\u00e9 programs. Congress also adopted the Jumpstart Our Business Startups Act (P.L. 112-106) that established a regulatory structure for startups and small businesses to raise capital through securities offerings using the Internet through crowdfunding.\nDuring the 113th Congress, P.L. 113-76, the Consolidated Appropriations Act, 2014, increased the annual authorization amount for the SBA\u2019s Small Business Investment Company (SBIC) venture capital program to $4 billion from $3 billion. The increased authorization amount is designed to provide small businesses additional access to venture capital. \nDuring the 114th Congress\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, authorized and made permanent the SBA\u2019s current practice of waiving the SBAExpress loan program\u2019s one-time, up-front loan guaranty fee for veterans (and their spouse). The act also increased the 7(a) loan program\u2019s FY2015 authorization limit from $18.75 billion to $23.5 billion; and \nP.L. 114-113, the Consolidated Appropriations Act, 2016, expanded the projects eligible for refinancing under the 504/CDC loan guaranty program in any fiscal year in which the refinancing program and the 504/CDC program as a whole do not have credit subsidy costs; generally limited refinancing under this provision to no more than 50% of the dollars loaned under the 504/CDC program during the previous fiscal year; and increased the SBIC program\u2019s family of funds limit (the amount of outstanding leverage allowed for two or more SBIC licenses under common control) to $350 million from $225 million. The act also increased the 7(a) loan program\u2019s authorization limit to $26.5 billion for FY2016.\nDuring the 115th Congress, P.L. 115-31, the Consolidated Appropriations Act, 2017, increased the 7(a) program\u2019s authorization limit to $27.5 billion for FY2017 from $26.5 billion in FY2016 and P.L. 115-141, the Consolidated Appropriations Act, 2018, increased the 7(a) program\u2019s authorization limit to $29.0 billion for FY2018.\nThis report addresses a core issue facing the 115th Congress: What, if any, additional action should the federal government take to enhance small business access to capital? It discusses the role of small business in job creation and retention, then provides an assessment of the supply and demand for small business loans and recently enacted laws designed to enhance small business access to capital by increasing either the supply of small business loans or the demand for small business loans, or both. It also examines recent actions concerning the SBA\u2019s budget and concludes with a brief overview of three legislative options available to address small business access to capital issues during the 115th Congress: wait-and-see, enact additional programs, or reduce and consolidate existing programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R40985", "sha1": "1fd349c1342ba7e1d7fc0b08d9f9a729e87829e1", "filename": "files/20180601_R40985_1fd349c1342ba7e1d7fc0b08d9f9a729e87829e1.html", "images": { "/products/Getimages/?directory=R/html/R40985_files&id=/1.png": "files/20180601_R40985_images_db1f29e2bdb50f75769aca7c2b541f35bfcc4233.png", "/products/Getimages/?directory=R/html/R40985_files&id=/0.png": "files/20180601_R40985_images_7ad83e1fad1a40afd5e0129cce082c9b35ff09ea.png" } }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R40985", "sha1": "8b35cb7d00f94272c5e9d1864b2c0e9eb434a395", "filename": "files/20180601_R40985_8b35cb7d00f94272c5e9d1864b2c0e9eb434a395.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 463818, "date": "2017-08-31", "retrieved": "2018-05-10T12:38:34.693971", "title": "Small Business: Access to Capital and Job Creation", "summary": "The U.S. Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty and venture capital programs to enhance small business access to capital; contracting programs to increase small business opportunities in federal contracting; direct loan programs for businesses, homeowners, and renters to assist their recovery from natural disasters; and small business management and technical assistance training programs to assist business formation and expansion. Congressional interest in these programs has increased in recent years, primarily because assisting small business is viewed as a means to enhance economic growth.\nSome have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations and create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, reform of financial credit market regulation, and federal fiscal restraint as the best means to assist small business economic growth and job creation.\nDuring the 111th Congress\nP.L. 111-5, the American Recovery and Reinvestment Act of 2009 (ARRA), provided the SBA an additional $730 million, including $375 million to temporarily subsidize SBA fees and increase the 7(a) loan guaranty program\u2019s maximum loan guaranty percentage to 90%; \nP.L. 111-240, the Small Business Jobs Act of 2010, authorized $30 billion for the Small Business Lending Fund to encourage community banks to provide small business loans ($4 billion was issued); $1.5 billion for the State Small Business Credit Initiative to provide funding to participating states with small business capital access programs; numerous changes to the SBA\u2019s loan guaranty and contracting programs; $510 million to continue the SBA\u2019s fee subsidies and 90% maximum loan guaranty percentage through December 31, 2010; and about $12 billion in tax relief for small businesses; and\nP.L. 111-322, the Continuing Appropriations and Surface Transportation Extensions Act, 2011, continued the SBA\u2019s fee subsidies and the 7(a) program\u2019s 90% maximum loan guaranty percentage through March 4, 2011, or until available funding was exhausted, which occurred on January 3, 2011.\nDuring the 112th Congress, legislation was enacted to enhance small business contracting opportunities, expand access to the SBA\u2019s surety bond guarantee program, amend the SBA\u2019s size standard practices, require a review and reassessment of the federal procurement small business goaling program, and expand small business mentor-prot\u00e9g\u00e9 programs. Congress also adopted the Jumpstart Our Business Startups Act (P.L. 112-106) that established a regulatory structure for startups and small businesses to raise capital through securities offerings using the Internet through crowdfunding.\nDuring the 113th Congress, P.L. 113-76, the Consolidated Appropriations Act, 2014, increased the annual authorization amount for the SBA\u2019s Small Business Investment Company (SBIC) venture capital program to $4 billion from $3 billion. The increased authorization amount is designed to provide small businesses additional access to venture capital. \nDuring the 114th Congress\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, authorized and made permanent the SBA\u2019s current practice of waiving the SBAExpress loan program\u2019s one-time, up-front loan guaranty fee for veterans (and their spouse). The act also increased the 7(a) loan program\u2019s FY2015 authorization limit from $18.75 billion to $23.5 billion; and \nP.L. 114-113, the Consolidated Appropriations Act, 2016, expanded the projects eligible for refinancing under the 504/CDC loan guaranty program in any fiscal year in which the refinancing program and the 504/CDC program as a whole do not have credit subsidy costs; generally limited refinancing under this provision to no more than 50% of the dollars loaned under the 504/CDC program during the previous fiscal year; and increased the SBIC program\u2019s family of funds limit (the amount of outstanding leverage allowed for two or more SBIC licenses under common control) to $350 million from $225 million. The act also increased the 7(a) loan program\u2019s authorization limit to $26.5 billion for FY2016.\nDuring the 115th Congress, P.L. 115-31, the Consolidated Appropriations Act, 2017, increased the 7(a) program\u2019s authorization limit to $27.5 billion for FY2017 from $26.5 billion in FY2016.\nThis report addresses a core issue facing the 115th Congress: What, if any, additional action should the federal government take to enhance small business access to capital? It discusses the role of small business in job creation and retention, then provides an assessment of the supply and demand for small business loans and recently enacted laws designed to enhance small business access to capital by increasing either the supply of small business loans or the demand for small business loans, or both. It also examines recent actions concerning the SBA\u2019s budget and concludes with a brief overview of three legislative options available to address small business access to capital issues during the 115th Congress: wait-and-see, enact additional programs, or reduce and consolidate existing programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R40985", "sha1": "b568a8cacf319176843be93564bf6b8043b2dcd6", "filename": "files/20170831_R40985_b568a8cacf319176843be93564bf6b8043b2dcd6.html", "images": { "/products/Getimages/?directory=R/html/R40985_files&id=/2.png": "files/20170831_R40985_images_94e5d96a6542c1f637b2439d6614a6e05de11466.png", "/products/Getimages/?directory=R/html/R40985_files&id=/0.png": "files/20170831_R40985_images_895d302ea6d97c275070fdf1c6efc3c58dfe88b8.png", "/products/Getimages/?directory=R/html/R40985_files&id=/3.png": "files/20170831_R40985_images_393ab09927624236cfdc4cfd1a461a4e12deedd3.png", "/products/Getimages/?directory=R/html/R40985_files&id=/1.png": "files/20170831_R40985_images_db1f29e2bdb50f75769aca7c2b541f35bfcc4233.png" } }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R40985", "sha1": "dd85fdf8a940da2647a8e28c4839534ee9af20be", "filename": "files/20170831_R40985_dd85fdf8a940da2647a8e28c4839534ee9af20be.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 458957, "date": "2017-02-10", "retrieved": "2017-02-15T21:40:53.620788", "title": "Small Business: Access to Capital and Job Creation", "summary": "The U.S. Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty and venture capital programs to enhance small business access to capital; contracting programs to increase small business opportunities in federal contracting; direct loan programs for businesses, homeowners, and renters to assist their recovery from natural disasters; and small business management and technical assistance training programs to assist business formation and expansion. Congressional interest in these programs has increased in recent years, primarily because assisting small business is viewed as a means to enhance economic growth.\nSome have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations and create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, reform of financial credit market regulation, and federal fiscal restraint as the best means to assist small business economic growth and job creation.\nDuring the 111th Congress\nP.L. 111-5, the American Recovery and Reinvestment Act of 2009 (ARRA), provided the SBA an additional $730 million, including $375 million to temporarily subsidize SBA fees and increase the 7(a) loan guaranty program\u2019s maximum loan guaranty percentage to 90%; \nP.L. 111-240, the Small Business Jobs Act of 2010, authorized $30 billion for the Small Business Lending Fund to encourage community banks to provide small business loans ($4 billion was issued); $1.5 billion for the State Small Business Credit Initiative to provide funding to participating states with small business capital access programs; numerous changes to the SBA\u2019s loan guaranty and contracting programs; $510 million to continue the SBA\u2019s fee subsidies and 90% maximum loan guaranty percentage through December 31, 2010; and about $12 billion in tax relief for small businesses; and\nP.L. 111-322, the Continuing Appropriations and Surface Transportation Extensions Act, 2011, continued the SBA\u2019s fee subsidies and the 7(a) program\u2019s 90% maximum loan guaranty percentage through March 4, 2011, or until available funding was exhausted, which occurred on January 3, 2011.\nDuring the 112th Congress, legislation was enacted to enhance small business contracting opportunities, expand access to the SBA\u2019s surety bond guarantee program, amend the SBA\u2019s size standard practices, require a review and reassessment of the federal procurement small business goaling program, and expand small business mentor-prot\u00e9g\u00e9 programs. Congress also adopted the Jumpstart Our Business Startups Act (P.L. 112-106) that established a regulatory structure for startups and small businesses to raise capital through securities offerings using the Internet through crowdfunding.\nDuring the 113th Congress, P.L. 113-76, the Consolidated Appropriations Act, 2014, increased the annual authorization amount for the SBA\u2019s Small Business Investment Company (SBIC) venture capital program to $4 billion from $3 billion. The increased authorization amount is designed to provide small businesses additional access to venture capital. \nDuring the 114th Congress\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, authorized and made permanent the SBA\u2019s current practice of waiving the SBAExpress loan program\u2019s one-time, up-front loan guaranty fee for veterans (and their spouse). The act also increased the 7(a) loan program\u2019s FY2015 authorization limit from $18.75 billion to $23.5 billion; and \nP.L. 114-113, the Consolidated Appropriations Act, 2016, expanded the projects eligible for refinancing under the 504/CDC loan guaranty program in any fiscal year in which the refinancing program and the 504/CDC program as a whole do not have credit subsidy costs; generally limited refinancing under this provision to no more than 50% of the dollars loaned under the 504/CDC program during the previous fiscal year; and increased the SBIC program\u2019s family of funds limit (the amount of outstanding leverage allowed for two or more SBIC licenses under common control) to $350 million from $225 million. The act also increased the 7(a) loan program\u2019s authorization limit to $26.5 billion for FY2016.\nThis report addresses a core issue facing the 115th Congress: What, if any, additional action should the federal government take to enhance small business access to capital? It discusses the role of small business in job creation and retention, then provides an assessment of the supply and demand for small business loans and recently enacted laws designed to enhance small business access to capital by increasing either the supply of small business loans or the demand for small business loans, or both. It also examines recent actions concerning the SBA\u2019s budget and concludes with a brief overview of three legislative options available to address small business access to capital issues during the 115th Congress: wait-and-see, enact additional programs, or reduce and consolidate existing programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R40985", "sha1": "45fd9a242e3f8ecf11865496c44b2c7c2f3ce7a1", "filename": "files/20170210_R40985_45fd9a242e3f8ecf11865496c44b2c7c2f3ce7a1.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R40985", "sha1": "921768bb1d03ea5af265d743bf270bf8961d63ff", "filename": "files/20170210_R40985_921768bb1d03ea5af265d743bf270bf8961d63ff.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 455521, "date": "2016-08-26", "retrieved": "2016-09-09T18:36:02.783711", "title": "Small Business: Access to Capital and Job Creation", "summary": "The U.S. Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty and venture capital programs to enhance small business access to capital; contracting programs to increase small business opportunities in federal contracting; direct loan programs for businesses, homeowners, and renters to assist their recovery from natural disasters; and small business management and technical assistance training programs to assist business formation and expansion. Congressional interest in these programs has increased in recent years, primarily because assisting small business is viewed as a means to enhance economic growth.\nSome, including President Obama, have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations and create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, reform of financial credit market regulation, and federal fiscal restraint as the best means to assist small business economic growth and job creation.\nDuring the 111th Congress\nP.L. 111-5, the American Recovery and Reinvestment Act of 2009 (ARRA), provided the SBA an additional $730 million, including $375 million to temporarily subsidize SBA fees and increase the 7(a) loan guaranty program\u2019s maximum loan guaranty percentage to 90%; \nP.L. 111-240, the Small Business Jobs Act of 2010, authorized $30 billion for the Small Business Lending Fund to encourage community banks to provide small business loans ($4 billion was issued); $1.5 billion for the State Small Business Credit Initiative to provide funding to participating states with small business capital access programs; numerous changes to the SBA\u2019s loan guaranty and contracting programs; $510 million to continue the SBA\u2019s fee subsidies and 90% maximum loan guaranty percentage through December 31, 2010; and about $12 billion in tax relief for small businesses; and\nP.L. 111-322, the Continuing Appropriations and Surface Transportation Extensions Act, 2011, continued the SBA\u2019s fee subsidies and the 7(a) program\u2019s 90% maximum loan guaranty percentage through March 4, 2011, or until available funding was exhausted, which occurred on January 3, 2011.\nDuring the 112th Congress, several bills were introduced to enhance small business access to capital through the SBA, including bills to extend the SBA\u2019s temporary fee subsidies and the 90% maximum loan guaranty percentage. Congress did not adopt these legislative efforts. Instead, Congress passed legislation to enhance small business contracting opportunities, expand access to the SBA\u2019s surety bond guarantee program, amend the SBA\u2019s size standard practices, require a review and reassessment of the federal procurement small business goaling program, and expand small business mentor-prot\u00e9g\u00e9 programs. Congress also adopted the Jumpstart Our Business Startups Act (P.L. 112-106) that established a regulatory structure for startups and small businesses to raise capital through securities offerings using the Internet through crowdfunding.\nDuring the 113th Congress, P.L. 113-76, the Consolidated Appropriations Act, 2014, increased the annual authorization amount for the SBA\u2019s Small Business Investment Company (SBIC) venture capital program to $4 billion from $3 billion. The increased authorization amount is designed to provide small businesses additional access to venture capital. \nDuring the 114th Congress\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, authorized and made permanent the SBA\u2019s current practice of waiving the SBAExpress loan program\u2019s one-time, up-front loan guaranty fee for veterans (and their spouse). The act also increased the 7(a) loan program\u2019s FY2015 authorization limit from $18.75 billion to $23.5 billion; and \nP.L. 114-113, the Consolidated Appropriations Act, 2016, expanded the projects eligible for refinancing under the 504/CDC loan guaranty program in any fiscal year in which the refinancing program and the 504/CDC program as a whole do not have credit subsidy costs; generally limited refinancing under this provision to no more than 50% of the dollars loaned under the 504/CDC program during the previous fiscal year; and increased the SBIC program\u2019s family of funds limit (the amount of outstanding leverage allowed for two or more SBIC licenses under common control) to $350 million from $225 million. The act also increased the 7(a) loan program\u2019s authorization limit to $26.5 billion for FY2016.\nThis report addresses a core issue facing the 114th Congress: What, if any, additional action should the federal government take to enhance small business access to capital? It discusses the role of small business in job creation and retention, then provides an assessment of the supply and demand for small business loans and recently enacted laws designed to enhance small business access to capital by increasing either the supply of small business loans or the demand for small business loans, or both. It also examines recent actions concerning the SBA\u2019s budget and concludes with a brief overview of three legislative options available to address small business access to capital issues during the remainder of the 114th Congress: wait-and-see, enact additional programs, or reduce and consolidate existing programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R40985", "sha1": "8744e3deb3a602bd73cb7a8f5e9f92653aae5587", "filename": "files/20160826_R40985_8744e3deb3a602bd73cb7a8f5e9f92653aae5587.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R40985", "sha1": "42c9671fc0e540a154b705e45e37f308c200d076", "filename": "files/20160826_R40985_42c9671fc0e540a154b705e45e37f308c200d076.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 2636, "name": "Small Business Policy" } ] }, { "source": "EveryCRSReport.com", "id": 452254, "date": "2016-05-04", "retrieved": "2016-05-24T19:12:02.109941", "title": "Small Business: Access to Capital and Job Creation", "summary": "The U.S. Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty and venture capital programs to enhance small business access to capital; contracting programs to increase small business opportunities in federal contracting; direct loan programs for businesses, homeowners, and renters to assist their recovery from natural disasters; and small business management and technical assistance training programs to assist business formation and expansion. Congressional interest in these programs has increased in recent years, primarily because assisting small business is viewed as a means to enhance economic growth.\nSome, including President Obama, have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations and create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, reform of financial credit market regulation, and federal fiscal restraint as the best means to assist small business economic growth and job creation.\nDuring the 111th Congress\nP.L. 111-5, the American Recovery and Reinvestment Act of 2009 (ARRA), provided the SBA an additional $730 million, including $375 million to temporarily subsidize SBA fees and increase the 7(a) loan guaranty program\u2019s maximum loan guaranty percentage to 90%; \nP.L. 111-240, the Small Business Jobs Act of 2010, authorized $30 billion for the Small Business Lending Fund to encourage community banks to provide small business loans ($4 billion was issued); $1.5 billion for the State Small Business Credit Initiative to provide funding to participating states with small business capital access programs; numerous changes to the SBA\u2019s loan guaranty and contracting programs; $510 million to continue the SBA\u2019s fee subsidies and 90% maximum loan guaranty percentage through December 31, 2010; and about $12 billion in tax relief for small businesses; and\nP.L. 111-322, the Continuing Appropriations and Surface Transportation Extensions Act, 2011, continued the SBA\u2019s fee subsidies and the 7(a) program\u2019s 90% maximum loan guaranty percentage through March 4, 2011, or until available funding was exhausted, which occurred on January 3, 2011.\nDuring the 112th Congress, several bills were introduced to enhance small business access to capital through the SBA, including bills to extend the SBA\u2019s temporary fee subsidies and the 90% maximum loan guaranty percentage. Congress did not adopt these legislative efforts. Instead, Congress passed legislation to enhance small business contracting opportunities, expand access to the SBA\u2019s surety bond guarantee program, amend the SBA\u2019s size standard practices, require a review and reassessment of the federal procurement small business goaling program, and expand small business mentor-prot\u00e9g\u00e9 programs. Congress also adopted the Jumpstart Our Business Startups Act (P.L. 112-106) that established a regulatory structure for startups and small businesses to raise capital through securities offerings using the Internet through crowdfunding.\nDuring the 113th Congress, P.L. 113-76, the Consolidated Appropriations Act, 2014, increased the annual authorization amount for the SBA\u2019s Small Business Investment Company (SBIC) venture capital program to $4 billion from $3 billion. The increased authorization amount is designed to provide small businesses additional access to venture capital. \nDuring the 114th Congress\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, authorized and made permanent the SBA\u2019s current practice of waiving the SBAExpress loan program\u2019s one-time, up-front loan guaranty fee for veterans (and their spouse). The act also increased the 7(a) loan program\u2019s FY2015 authorization limit from $18.75 billion to $23.5 billion; and \nP.L. 114-113, the Consolidated Appropriations Act, 2016, expanded the projects eligible for refinancing under the 504/CDC loan guaranty program in any fiscal year in which the refinancing program and the 504/CDC program as a whole do not have credit subsidy costs; generally limited refinancing under this provision to no more than 50% of the dollars loaned under the 504/CDC program during the previous fiscal year; and increased the SBIC program\u2019s family of funds limit (the amount of outstanding leverage allowed for two or more SBIC licenses under common control) to $350 million from $225 million. The act also increased the 7(a) loan program\u2019s authorization limit to $26.5 billion for FY2016.\nThis report addresses a core issue facing the 114th Congress: What, if any, additional action should the federal government take to enhance small business access to capital? It discusses the role of small business in job creation and retention, then provides an assessment of the supply and demand for small business loans and recently enacted laws designed to enhance small business access to capital by increasing either the supply of small business loans or the demand for small business loans, or both. It also examines recent actions concerning the SBA\u2019s budget and concludes with a brief overview of three legislative options available to address small business access to capital issues during the 114th Congress: wait-and-see, enact additional programs, or reduce and consolidate existing programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R40985", "sha1": "285ce3856d4ffe5e9fe5553f782abbe7917727a9", "filename": "files/20160504_R40985_285ce3856d4ffe5e9fe5553f782abbe7917727a9.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R40985", "sha1": "d70fc7df4e92b892e946eb0a10d92297c179ce4b", "filename": "files/20160504_R40985_d70fc7df4e92b892e946eb0a10d92297c179ce4b.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 2636, "name": "Small Business Policy" } ] }, { "source": "EveryCRSReport.com", "id": 450327, "date": "2016-03-01", "retrieved": "2016-03-24T17:02:08.487692", "title": "Small Business: Access to Capital and Job Creation", "summary": "The U.S. Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty and venture capital programs to enhance small business access to capital; contracting programs to increase small business opportunities in federal contracting; direct loan programs for businesses, homeowners, and renters to assist their recovery from natural disasters; and small business management and technical assistance training programs to assist business formation and expansion. Congressional interest in these programs has increased in recent years, primarily because assisting small business is viewed as a means to enhance economic growth.\nSome, including President Obama, have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations and create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, reform of financial credit market regulation, and federal fiscal restraint as the best means to assist small business economic growth and job creation.\nDuring the 111th Congress\nP.L. 111-5, the American Recovery and Reinvestment Act of 2009 (ARRA), provided the SBA an additional $730 million, including $375 million to temporarily subsidize SBA fees and increase the 7(a) loan guaranty program\u2019s maximum loan guaranty percentage to 90%; \nP.L. 111-240, the Small Business Jobs Act of 2010, authorized $30 billion for the Small Business Lending Fund to encourage community banks to provide small business loans ($4 billion was issued); $1.5 billion for the State Small Business Credit Initiative to provide funding to participating states with small business capital access programs; numerous changes to the SBA\u2019s loan guaranty and contracting programs; $510 million to continue the SBA\u2019s fee subsidies and 90% maximum loan guaranty percentage through December 31, 2010; and about $12 billion in tax relief for small businesses; and\nP.L. 111-322, the Continuing Appropriations and Surface Transportation Extensions Act, 2011, continued the SBA\u2019s fee subsidies and the 7(a) program\u2019s 90% maximum loan guaranty percentage through March 4, 2011, or until available funding was exhausted, which occurred on January 3, 2011.\nDuring the 112th Congress, several bills were introduced to enhance small business access to capital through the SBA, including bills to extend the SBA\u2019s temporary fee subsidies and the 90% maximum loan guaranty percentage. Congress did not adopt these legislative efforts. Instead, Congress passed legislation to enhance small business contracting opportunities, expand access to the SBA\u2019s surety bond guarantee program, amend the SBA\u2019s size standard practices, require a review and reassessment of the federal procurement small business goaling program, and expand small business mentor-prot\u00e9g\u00e9 programs. Congress also adopted the Jumpstart Our Business Startups Act (P.L. 112-106) that established a regulatory structure for startups and small businesses to raise capital through securities offerings using the Internet through crowdfunding.\nDuring the 113th Congress, P.L. 113-76, the Consolidated Appropriations Act, 2014, increased the annual authorization amount for the SBA\u2019s Small Business Investment Company (SBIC) venture capital program to $4 billion from $3 billion. The increased authorization amount is designed to provide small businesses additional access to venture capital. \nDuring the 114th Congress\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, authorized and made permanent the SBA\u2019s current practice of waiving the SBAExpress loan program\u2019s one-time, up-front loan guaranty fee for veterans (and their spouse). The act also increased the 7(a) loan program\u2019s FY2015 authorization limit from $18.75 billion to $23.5 billion; and \nP.L. 114-113, the Consolidated Appropriations Act, 2016, expanded the projects eligible for refinancing under the 504/CDC loan guaranty program in any fiscal year in which the refinancing program and the 504/CDC program as a whole do not have credit subsidy costs; generally limited refinancing under this provision to no more than 50% of the dollars loaned under the 504/CDC program during the previous fiscal year; and increased the SBIC program\u2019s family of funds limit (the amount of outstanding leverage allowed for two or more SBIC licenses under common control) to $350 million from $225 million. The act also increased the 7(a) loan program\u2019s authorization limit to $26.5 billion for FY2016.\nThis report addresses a core issue facing the 114th Congress: What, if any, additional action should the federal government take to enhance small business access to capital? It discusses the role of small business in job creation and retention, then provides an assessment of the supply and demand for small business loans and recently enacted laws designed to enhance small business access to capital by increasing either the supply of small business loans or the demand for small business loans, or both. It also examines recent actions concerning the SBA\u2019s budget and concludes with a brief overview of three legislative options available to address small business access to capital issues during the 114th Congress: wait-and-see, enact additional programs, or reduce and consolidate existing programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R40985", "sha1": "f61bf4e838f7ceb2b99da9f183f57425556c3709", "filename": "files/20160301_R40985_f61bf4e838f7ceb2b99da9f183f57425556c3709.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R40985", "sha1": "63c041749f7a12cbf34cfdf537f8dca1e957ead7", "filename": "files/20160301_R40985_63c041749f7a12cbf34cfdf537f8dca1e957ead7.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 2636, "name": "Small Business Policy" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc795882/", "id": "R40985_2015Nov25", "date": "2015-11-25", "retrieved": "2016-01-13T14:26:20", "title": "Small Business: Access to Capital and Job Creation", "summary": "This report discusses the role of small business in job creation and retention, then provides an assessment of the supply and demand for small business loans and recently enacted laws designed to enhance small business access to capital. It also examines recent actions concerning the SBA's budget and concludes with a brief overview of legislative options available to address small business access to capital issues during the 114th Congress.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20151125_R40985_7aeae1a060344f9951e4617df0470e51a6410b8e.pdf" }, { "format": "HTML", "filename": "files/20151125_R40985_7aeae1a060344f9951e4617df0470e51a6410b8e.html" } ], "topics": [ { "source": "LIV", "id": "Small business", "name": "Small business" }, { "source": "LIV", "id": "Finance", "name": "Finance" }, { "source": "LIV", "id": "Capital", "name": "Capital" }, { "source": "LIV", "id": "Labor", "name": "Labor" }, { "source": "LIV", "id": "Job creation", "name": "Job creation" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc811741/", "id": "R40985_2015Apr16", 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"files/20140806_R40985_f4bd736c37a4667df13086fecf673119bc0cb399.html" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc816972/", "id": "R40985_2014Feb18", "date": "2014-02-18", "retrieved": "2016-03-19T13:57:26", "title": "Small Business: Access to Capital and Job Creation", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20140218_R40985_a1cf598b9b0b801ea333ebdfecae9a52597d2208.pdf" }, { "format": "HTML", "filename": "files/20140218_R40985_a1cf598b9b0b801ea333ebdfecae9a52597d2208.html" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc816299/", "id": "R40985_2013May02", "date": "2013-05-02", "retrieved": "2016-03-19T13:57:26", "title": "Small Business: Access to Capital and Job Creation", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20130502_R40985_91d1f3b40b4c9c5f74064b47378ef0c2b11aca73.pdf" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc815913/", "id": "R40985_2013Mar05", "date": "2013-03-05", "retrieved": "2016-03-19T13:57:26", "title": "Small Business: Access to Capital and Job Creation", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20130305_R40985_5691c0588a64bebe456dd1ab29741f5e8e72a237.pdf" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc809352/", "id": "R40985_2011Nov21", "date": "2011-11-21", "retrieved": "2016-03-19T13:57:26", "title": "Small Business: Access to Capital and Job Creation", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20111121_R40985_1c195a6393bad5eca65a48d0d572b311ae44ff27.pdf" }, { "format": "HTML", "filename": "files/20111121_R40985_1c195a6393bad5eca65a48d0d572b311ae44ff27.html" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc809321/", "id": "R40985_2011Sep01", "date": "2011-09-01", "retrieved": "2016-03-19T13:57:26", "title": "Small Business: Access to Capital and Job Creation", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20110901_R40985_593c56f6c83d8153a4c1b0e13272754eee60b1f0.pdf" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc822668/", "id": "R40985_2011Jan13", "date": "2011-01-13", "retrieved": "2016-03-19T13:57:26", "title": "Small Business: Access to Capital and Job Creation", "summary": "This report addresses a core issue facing Congress during the 112th Congress: what, if any, additional action should the federal government take to enhance small business access to capital? After briefly discussing the role of small business in job creation and retention, this report provides an assessment of the supply and demand for small business loans. It also examines selected laws enacted during the 110th and 111th Congresses that were designed to enhance small business access to capital by increasing the supply of small business loans and/or the demand for small business loans. This report also includes empirical evidence concerning small business lending and borrowing, including the number and amount of small business loans guaranteed by the SBA.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20110113_R40985_a1ae8158ba464edab40795763db4a72a0c08fb02.pdf" }, { "format": "HTML", "filename": "files/20110113_R40985_a1ae8158ba464edab40795763db4a72a0c08fb02.html" } ], "topics": [ { "source": "LIV", "id": "Small business", "name": "Small business" }, { "source": "LIV", "id": "Finance", "name": "Finance" }, { "source": "LIV", "id": "Capital", "name": "Capital" }, { "source": "LIV", "id": "Labor", "name": "Labor" }, { "source": "LIV", "id": "Job creation", "name": "Job creation" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc820914/", "id": "R40985_2010Sep01", "date": "2010-09-01", "retrieved": "2016-03-19T13:57:26", "title": "Small Business: Access to Capital and Job Creation", "summary": "The Small Business Administration\u2019s (SBA) authorization is due to expire on September 30, 2010. The SBA administers several programs to support small businesses, including loan guarantees to help small businesses gain access to capital. This report addresses a core issue facing Congress during the SBA\u2019s reauthorization process: what, if any, additional action should the federal government take to enhance small business access to capital?", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20100901_R40985_e1adfa97e7668b0d8788acadd568e85c28f18c3b.pdf" }, { "format": "HTML", "filename": "files/20100901_R40985_e1adfa97e7668b0d8788acadd568e85c28f18c3b.html" } ], "topics": [ { "source": "LIV", "id": "Small business", "name": "Small business" }, { "source": "LIV", "id": "Finance", "name": "Finance" }, { "source": "LIV", "id": "Capital", "name": "Capital" }, { "source": "LIV", "id": "Labor", "name": "Labor" }, { "source": "LIV", "id": "Job creation", "name": "Job creation" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc810872/", "id": "R40985_2010Jun17", "date": "2010-06-17", "retrieved": "2016-03-19T13:57:26", "title": "Small Business: Access to Capital and Job Creation", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20100617_R40985_586870d768c1f0a2e1c52327ba56b5aaebb159c6.pdf" }, { "format": "HTML", "filename": "files/20100617_R40985_586870d768c1f0a2e1c52327ba56b5aaebb159c6.html" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc816243/", "id": "R40985_2010May21", "date": "2010-05-21", "retrieved": "2016-03-19T13:57:26", "title": "Small Business: Access to Capital and Job Creation", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20100521_R40985_7e0c3f117446dec32287c87eb0f948740d6eae6b.pdf" }, { "format": "HTML", "filename": "files/20100521_R40985_7e0c3f117446dec32287c87eb0f948740d6eae6b.html" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc811371/", "id": "R40985_2010Mar04", "date": "2010-03-04", "retrieved": "2016-03-19T13:57:26", "title": "Small Business: Access to Capital and Job Creation", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20100304_R40985_811e6a7f968f15560a4f14fd8828dee3af49509f.pdf" }, { "format": "HTML", "filename": "files/20100304_R40985_811e6a7f968f15560a4f14fd8828dee3af49509f.html" } ], "topics": [] } ], "topics": [ "American Law", "Economic Policy", "Foreign Affairs" ] }