SBA budget takes a hit
President Obama’s nominee to head the Small Business Administration, Maria Contreras-Sweet, once approved by the Senate, will be coping with a budget cut.
The fiscal 2014 omnibus spending law provides $929 million for the SBA, which is $116 million less than the $1.045 billion enacted level the year before.
Small business loans get $263 million, $222 million below last year’s enacted. However, the House Appropriations Committee said the amount is “sufficient to support expected loan demand.” Disaster loan implementation gets $192 million.
Further details on the cuts were not available from the SBA.
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