The U.S. Government Accountability Office (GAO) has issued its findings on why the Small Business Lending Fund (SBLF) passed by Congress in 2010 turned into an abysmal failure in promoting loans to small businesses. Only 332 of the 935 community banks applying for the extremely low interest funds to be…
Billions still waiting for lending to small businesses
Last week at my meetings in DC with representatives of the Administration’s economic development team and key staff of the U.S. Senate Small Business Committee I expressed concern that possibly up to half of the $30 billion Small Business Lending Fund established last year would not be claimed. The fund…
Small businesses still need loans
The South Carolina Small Business Chamber was a strong and vocal supporter of last year’s Small Business Jobs Act. I spoke at a press conference at the Capital along with several U.S. Senators to state our support and that of the American Sustainable Business Council for the legislation. A key…
10 down and 2 to go
2010 has been a very successful year for The South Carolina Small Business Chamber of Commerce and there are still 2 months remaining before 2011. Below is a very brief overview of wins this year and also some historical victories. Success in 2010 -Passage of national health care reform resulting…