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SBA has issued a warning about scam artists offering to help businesses apply for funds available through SBA programs. SBA and its Office of the Inspector General have received several complaints from small businesses about abusive marketing practices, scams and exorbitant fees charged by firms offering to help obtain a loan, grant, or other federal funds, from SBA. The agency says its district offices will provide free assistance. Help is also available free or for a small fee from small business development centers, women’s business centers, veterans business outreach centers and SCORE chapters.
SBA has increased the maximum awards under the Small Business Innovation Research Program to adjust for inflation. The Phase I award threshold amount rises from $100,000 to $150,000 and the Phase II amount from $750,000 to $1,000,000. The increases were effective March 30. Inflation adjustments are authorized every five years.
Three senators introduced legislation that would give financial relief to cash-poor women’s business centers and nonprofit groups that dispense Microloans. The bill would temporarily waive the requirement that those organizations partially match their federal funds with money from other sources. The Small Business Community Partner Relief Act, S. 3165, is sponsored by Senate Small Business Committee chair Mary Landrieu, D-LA, and ranking member Olympia Snowe, R-ME, along with Senator Richard Durbin, D-IL. The senators said nine women’s business centers have either closed or requested reduced federal funding because they could not meet the matching requirements. “[F]unding from local governments, universities and private entities is rapidly depleting due to budget cuts and current economicconditions,” they said.
SBA is considering granting a class waiver of the nonmanufacturer rule for Liquid Propane Gas (LPG). On December 10, 2009, SBA received a request that a class waiver be granted for liquid propane gas (LPG), Product Service Code (PSC) 6830 (Compressed and Liquefied Gases), under the North American Industry Classification System (NAICS) code 325120 (Industrial Gases Manufacturing). The agency is seeking information about any small business manufacturers that may supply LPG to the government. |