Image provided by: University of Oregon Libraries; Eugene, OR
About The skanner. (Portland, Or.) 1975-2014 | View Entire Issue (Oct. 1, 2014)
MBE 2014 Minority Business Enterprise Launch of a New Self-Employment Assistance Website T he U.S. Small Busi- ness Administration and the U.S. Depart- ment of Labor jointly announced a new website to support state workforce and unemployment agencies in implementing or enhancing Self-Employment Assis- tance programs. Today’s announcement expands on guidance issued in May, which included $35 million in funding for states to nity to entrepreneurs who want to start, grow or expand their business,” said SBA Administrator Karen Mills. “For entrepreneurs who find themselves unem- ployed, the SEA website and toolkit will help them turn small business owner- ship into a reality and possibly put others back to work at the same time – a win-win scenario.” Participation in Self- ance benefits while they receive important entrepre- neurial training and resources to help launch their own businesses. The new website provides tools and technical assistance to states that are considering implementing or enhancing a Self-Employment Assis- tance program, and additional resources to help savvy entrepreneurs launch their businesses and create ‘Small businesses are the country’s economic engine, and programs like Self-Employment Assistance will encourage more Americans to pursue their dreams of becoming entrepreneurs’ implement or expand these programs made possible through the Middle Class Tax Relief and Job Creation Act of 2012. “Our job at the SBA is to provide access and opportu- Employment Assistance programs is voluntary for eligible Unemployment Insurance recipients, and enables them to receive financial assistance equal to their Unemployment Insur- new jobs. “Small businesses are the country’s economic engine, and programs like Self- Employment Assistance will encourage more Ameri- cans to pursue their dreams SBA to Zero Out Fees on Small Loans to Vets T he U.S Small Business Administra- tion has announced that fee relief on 7(a) loans of $150,000 or less imple- mented last year and originally slated to expire on Sept. 30, will be extended through fiscal year 2015. SBA has also announced that fee relief measures for SBA Veterans Advantage will also be renewed as well as enhanced. Both the extension of the fee relief for 7(a) loans $150,000 and under, and the extension and enhancement of the fee relief for SBA Veterans Advantage loans will become effective today, October 1st, and will remain in effect through Sept. 30, 2015. The most recent numbers available for FY14, as of September 12th, show that the SBA had guaranteed 28,806 for over $1.74 billion in loans $150,000 and under, up from 23,337 loans and $1.34 billion in FY 2013. This represents an increase of 23.4 percent and 30 percent, respectively. Fee reductions on these loans resulted in almost $19 million in savings to small business borrowers in FY 2013. Under the original fee relief for 7(a) loans that began Oct 1, 2013, both the upfront guaranty fee and the annual servicing fee (“on-going guaranty fee”) were reduced to zero on loans $150,000 and under. This week, the SBA is announcing that: The provisions that began on Oct. 1, 2013, for 7(a) loans under $150,000, will now be continued for fiscal year 2015. For loans larger than $150,000, the annual serv- icing fee lenders pay will be 0.519 percent of the guaranteed portion of the outstanding balance of the loan. The upfront guarantee fee will continue to depend on both the amount and the maturity of the loan. For SBA Veterans Advantage loans, the conditions implemented on Jan. 1, 2014 – zero upfront guaranty fee on all SBA Express loans to veterans of $150,000 up to $350,000– will remain unchanged for FY 2015. Beginning today, the upfront guaranty fee for non “SBA Express” loans $150,000 up to $5 million will now be reduced by 50 percent. There is no reduction on the annual servicing fee for loans over $150,000. Seventy percent of all SBA loans made to veterans are $350,000 or less. Since its inception through Sept. 20, 2014, SBA had guaranteed 153 loans for $38,861,900 under Veterans Advantage. Fee relief for these loans resulted in savings to borrowers of about $571,000. For more information go to www.sba.gov. of becoming entrepre- neurs,” said Secretary of Labor Hilda L. Solis. “This new website will expand access to Self-Employment Assistance so that those who are unemployed today can become successful busi- ness owners tomorrow.” A key component of the new website is the SBA toolkit, which contains sev- eral free, online resources available through the SBA to support new entrepre- neurs. Helping budding entrepreneurs gain access to SBA’s partners and its many resources is key to operating a successful Self-Employ- ment Assistance program. Through the site, the SBA continues to offer free online business courses on topics such as How to Pre- pare a Business Plan, Franchising Basics, Gov- ernment Contracting, Green Business Opportunities and more. Entrepreneurship and Business Planning, Entre- preneurial Marketing and Finding Money to Start a Business are some of the other courses available through this new website. The site also highlights suc- cessful practices from states currently operating Self- Employment Assistance programs to assist new states as they implement or enhance their programs. For more information go to the website at http://sea.workforce3one.or g. We honor the many accomplishments of African Americans. It is our primary goal as a labor union to better the lives of all people working in the building trades through advocacy, civil demonstration, and the long-held belief that work- ers deserve a "family wage" - fair pay for an honest day's work. A family wage, and the benefits that go with it, not only strength- ens families, but also allows our communities to become stronger, more cohesive, and more responsive to their citizens' needs. Our family wage agenda reflects our commitment to people working in the building trades, and to workers everywhere. In this small way, we are doing our part to help people achieve the American Dream. This dream that workers can hold dear regard- less of race, color, national origin, gender, creed, or religious beliefs. The Pacific Northwest Regional Council of Carpenters Representing more than 5.000 construction workers in Oregon State. Do you want to know more about becoming a Union carpenter? October 1, 2014 The Portland and Seattle Skanner Page 9
