SBA says: Small Businesses Create 2 Million Jobs

urlFrom an early January post from SBA Administrator Maria Contreras-Sweet: “Last week’s jobs report offered more evidence that our economy is gathering a head of steam as we ring in the New Year. Last month, American businesses added back 252,000 jobs and our unemployment rate fell to its lowest level since June 2008. We’re in the midst of 58 month of consecutive job growth – the longest streak on record since the mid-1990s.

Read the article here.

~ Norris Lozano, CEO of BusinessUS

Inc.: In California’s Kevin McCarthy, A Small Business Advocate Rises to GOP’s Top

Kevin-McCarthy_37943With the election of Kevin McCarthy, BusinessUS and other California small businesses find ourselves in an interesting political position: both the Majority Leader and the Minority Leader of the House, and the SBA Administrator, are from our home state.

Read more about Kevin McCarthy and small business here

“In McCarthy, Republicans have found a moderate voice with strong business ties, and the ability to understand the concerns of smaller businesses. They have also found someone who may be able to unify the fractious voices that have prevented the Republican caucus from taking meaningful action on legislation like immigration reform.”

Nancy Pelosi: “After raising $1.8 million for Democrats through her leadership PAC in 2002, Pelosi got the top job when Minority Leader Dick Gephardt. She was the first woman to ever lead a party in Congress. In 2006, she teamed up with Schumer, Harry Reid, and Rahm Emanuel and hatched a plan to take back Congress. …and it totally worked! Democrats won the majority in both chambers, and Pelosi became the first female Speaker of the House. In the first 100 hours of being Speaker in 2006, Pelosi raised the minimum wage, enacted the 9/11 commission report, ended many tax subsidies to oil companies, and made new rules about lobbying.”

Read more about Pelosi’s successes here 

SBA Administrator Maria Contreras-Sweet has a wide range of experience having been a business owner, founder of a Latino-owned community bank and a former California cabinet secretary. She’s also been an advocate for Hispanics.

“She knows business and she knows the economics and the business of raising capital, and the importance of building a solid small business community,” says Betsy Berkhemer-Credaire, president of Los Angeles-based Berkhemer-Clayton, an executive search firm. She has known Contreras-Sweet for about 25 years and worked with her at nonprofit groups including the March of Dimes.

Contreras-Sweet, 58, first became a business owner in 1980, as a partner in the 7UP/RC Bottling of Southern California. She also served on the board of directors of the health insurer Blue Cross of California. In 1999, she became secretary of the California Business, Transportation and Housing Agency and was the first Hispanic woman in the state Cabinet. She held that post until 2003.

Here’s a good summary of the SBA Administrator’s California career

~ Norris Lozano, CEO of BusinessUS

It’s National Small Business Week!

“This country’s 28 million small businesses create nearly two out of three jobs in our economy, so we can’t have a conversation about creating jobs and economic growth in America without talking about ways to support our entrepreneurs.”

~ SBA Administrator Maria Contreras-Sweet

READ: National Small Business Week Starts Today

~Norris Lozano, BusinessUS CEO

The imperative to serve the underserved

url“…minority-owned firms were three times more likely to get turned down for a bank loan.  For high-sales firms, loan denial rates were twice as high for minority-owned businesses.”

SBA Administrator Maria Contreras-Sweet

BusinessUS strives to close at least 60% of its annual loan originations with borrowers who are members of those underserved groups, in inner cities and rural areas, who cannot get credit, capital and other resources elsewhere. Underserved markets include but are not limited to veterans, women, minorities and tribal groups as well as entire communities in which traditional lenders have lower lending activities.”

~ BusinessUS Mission Statement

“This country was founded by risk-takers, resourceful pioneers who built this prosperous nation. Entrepreneurialism is in our heritage.”

mscMaria Contreas-Sweet was sworn in as SBA Administrator on Monday. Here are some quotes from her acceptance speech (hat-tip to Bob Coleman):

  • “The American Dream has always been about the opportunity to earn a good education and the keys to own your home. But the expanding American Dream is also about the opportunity to start your own business. I’ve lived that dream. And as the SBA Administrator, I’m determined to help others realize theirs as well.
  • SBA is a driving force that helps propel this economic activity. SBA provides access to capital, contracting opportunities, and consultation through a national network of partners, and of course, disaster relief loans.
  • Two out of three new jobs in America are created by small businesses. Millions of middle-class families are working for folks who depend on the SBA’s ability to facilitate access to capital, counseling and contracting opportunities. We must draw on technology to streamline the process of working with the SBA to make it easier for borrowers to access capital and easier for lenders to lend. The SBA must be nimble, agile to keep pace with our digital age.

Read more here:

~Norris Lozano, CEO of BusinessUS

 

Big News @ SBA: Obama nominee Maria Contreras-Sweet is confirmed as SBA Administrator

maria-contreras-sweet-sba-600xx899-599-1-0The Coleman Report beat just about everyone to the punch with this breaking story:

“SENATE CONFIRMS MARIA CONTRERAS-SWEET AS SBA ADMINISTRATOR”

And here’s another good link to the story.

We’re very excited about the opportunity to work with the new Administrator.

~ Norris Lozano, CEO of BusinessUS

Los Angeles Latina Maria Contreras-Sweet to Get Nod to Head SBA

Obama_SBA Chief Maria Contreras-SweetIn a widely reported breakthrough, President Obama will soon be announcing the selection of a new SBA chief: Maria Contreras-Sweet.

Ms. Contreras-Sweet brings a stunning resume to the cabinet-level position, as reported in BusinessWeek:

“Contreras-Sweet immigrated to the U.S. at the age of 5 and went on to achieve a number of firsts, including being the first Latin American woman to serve on the board of Blue Cross California, and first to hold a cabinet secretary position in California state government. (She was California’s secretary of Business, Transportation, and Housing from 1999 to 2003.)”

And according to the Washington Post, she is very focused on underserved borrowers: “In addition, he said, she has “focused extensively on access to capital for a segment of the small business community that has more trouble getting capital than most, so she understands the pressing need for credit and capital of many small business owners.”

“The selection of Maria Contreras-Sweet to the lead the SBA is significant in many ways,” said Norris Lozano, CEO of California-based BusinessUS. “We are looking forward to strong guidance and shared mission to provide new capital resources to underserved small businesses.”