| 00:00:15 |
Graves, Samuel "Sam" B. - U.S. Representative, [R] Missouri
ENVIRONMENT IN WHICH ENTREPRENEURSHIP IS FOSTERED BY ECONOMIC RECOVERY. THERE ARE MANY ASPECTS IN CREATING THIS ENVIRONMENT. WE WILL FOCUS ON ONE OF...
|
| 00:02:10 |
Velazquez, Nydia M. - U.S. Representative, [D] New York
CREATION. IT HAS NOT BEEN ENOUGH TO HAVE A SIZABLE IMPACT ON THE UNEMPLOYMENT RATE WHICH REMAINS HIGH AT 9.1%. THE REALITY IS WE STILL HAVE A LONG...
|
| 00:07:11 |
Mills, Karen Gordon - Administrator
FOR ASKING ME TO TESTIFY AND ACCESS TO CAPITAL FOR SMALL BUSINESS. THE FISCAL YEAR THAT JUST CLOSED, THE SBA HIT AN ALL-TIME RECORD IN ITS 60 YEAR HISTORY....
|
| 00:10:52 |
Q&A, -
MR. KAUFMAN FOR OPENING QUESTIONS. >> THANK YOU. CHAIRMAN, SECRETARY MILLS, SINCE
|
| 00:11:01 |
Coffman, Mike - U.S. Representative, [R] Colorado
BANK LOANS ARE ALWAYS A SMALL PERCENTAGE OF OVERALL SMALL-BUSINESS LENDING, WHAT STEPS ARE YOU TAKING TO ENCOURAGE PRIVATE SMALL-BUSINESS LENDING? >>...
|
| 00:11:21 |
Mills, Karen Gordon - Administrator
SMALL PORTION OF THE MARKET MAY BE 10% OF THE MARKET SO THE ENTIRE MARKET, THE CONVENTIONAL MARKET FOR SMALL BUSINESS LENDING NEEDS TO ALSO COME BACK....
|
| 00:13:47 |
Velazquez, Nydia M. - U.S. Representative, [D] New York
ENTREPRENEURS. HOWEVER, SMALL DOLLAR LOANS AND LOANS TO START OFF THE LINE AS A PERCENTAGE OF SBA LENDING LAST FISCAL YEAR. DOES THIS MEAN AGENCIES SHIFTING...
|
| 00:14:27 |
Mills, Karen Gordon - Administrator
HAVE BEEN ABOUT THE FACT THE MARKET DID NOT COME BACK. THAT IS WHY WE CAME OUT WITH THIS THREE PRONGED APPROACH TO PROMOTE -- >> WHY IS IT THAT LAST...
|
| 00:21:03 |
Tipton, Scott - U.S. Representative, [R] Colorado
COUNTRY. LISTENING TO YOUR TESTIMONY, I WOULD LIKE TO GET CLARIFICATION. YOU MENTIONED IN ORDER TO GET THE BANKS TO START MAKING LOANS AGAIN, YOU STREAMLINED...
|
| 00:21:27 |
Mills, Karen Gordon - Administrator
HEAR THAT BECAUSE WE OFTEN HEAR GOVERNMENT AS SIMPLE THINGS AND THAT IS RARELY THE CASE. IN TERMS OF TRYING TO CREATE COST SAVINGS BECAUSE THAT IS...
|
| 00:27:08 |
Chu, Judy - U.S. Representative, [D] California
MY AREA AND IT WAS ABOUT FDA AND AT THAT HEARING, THE CEO OF PAN AMERICAN BANK TESTIFIED ABOUT HIS SMALL BUSINESS LENDING PROGRAM. DOING THE JOB UNDER...
|
| 00:28:11 |
Mills, Karen Gordon - Administrator
NOW ON OUR LIST TO HOPEFULLY COME AND DO SOME TRAINING AND OUT REACH SO THAT WE CAN GET INTO THE PROGRAM. THE PROBLEM YOU DESCRIBE WE HAVE PUT FORWARD...
|
| 00:32:45 |
Barletta, Louis "Lou" J - U.S. Representative, [R] Pennsylvania
ON SEPTEMBER 8, AFTER HURRICANE IRENE AND TROPICAL STORM WADE, WE HAVE EXPERIENCED THE WORST FLOODING IN HISTORY OF OUR AREA. MANY PEOPLE, MANY BUSINESSES,...
|
| 00:34:50 |
Mills, Karen Gordon - Administrator
BOTH IRENE AND TROPICAL STORM LEE. AND FOR THE BENEFIT OF THOSE WERE ON THE COMMITTEE, WE WERE ON READY RESERVE AT 2000 DISASTER, OPERATORS WHO ACTUALLY,...
|
| 00:37:08 |
Velazquez, Nydia M. - U.S. Representative, [D] New York
INTEREST RATE, AND IT DIDN'T HAPPEN. I DIDN'T HAVE THE SUPPORT FROM YOUR SIDE, SO MAYBE THIS TIME AROUND SPEAK YOU WANT TO GET ON THE BILL WITH ME?...
|
| 00:37:42 |
Schrader, Kurt - U.S. Representative, [D] Oregon
TO PAY FOR AT THE TIME SO I APPRECIATE HIS HELP. >> WILL YIELD? >> I HAVE A LIMITED AMOUNT OF TIME. I WANT TO TALK ABOUT I THINK THE SUCCESSES THAT...
|
| 00:39:26 |
Mills, Karen Gordon - Administrator
TURNED THE CORNER ON OUR DEFAULT RATES, AND THEY PEAKED IN AUGUST 2010, AND I'VE BEEN REDUCING EACH MONTH. AND OUR CURRENT DEFAULT RATES OVER ALL ARE...
|
| 00:43:19 |
Walsh, Joe - U.S. Representative, [R] Illinois
TO HELP SMALL BUSINESSES ACCESS CAPITAL WHEN THEY CAN'T DO THAT IN THE PRIVATE MARKETPLACE. WHAT'S SBA'S MISSION IN 20 SECONDS? >> IN THE ACCESS TO CAPITAL...
|
| 00:43:38 |
Mills, Karen Gordon - Administrator
RUN SMALL BUSINESS, $100 BILLION OF FEDERAL CONTRACTS GO TO SMALL BUSINESS. AND THAT'S JUST A WIN-WIN SITUATION. AND WE HAVE A NETWORK OF COUNSELORS,...
|
| 00:47:58 |
Velazquez, Nydia M. - U.S. Representative, [D] New York
DISTRICTS. I AM A MEMBER OF FINANCIAL SERVICES AND I WORK ON DODD-FRANK. >> AND I WILL CLOSE WITH THIS, AND THANK YOU. I GUESS THEY ARE NOT CONVINCED...
|
| 00:48:27 |
Critz, Mark S. - U.S. Representative, [D] Pennsylvania
FIRST QUARTER OF FY11, AND THEN AS DECEMBER 31, 2010 HIT, THE PRECIPITOUS DROP IN THINKING THAT I THINK THE FIGURE SHE USED WAS HALF OF YOUR LENDING...
|
| 00:49:24 |
Mills, Karen Gordon - Administrator
ADD. >> IS THERE A REASON YOU DIDN'T ASK FOR A WAIVER OR DIDN'T ASK US FOR AN APPROPRIATION SO YOU COULD WAVE THE UP FRONT BAR OF THE? >> AND WE DID...
|
| 00:52:48 |
Mulvaney, Mick - U.S. Representative, [R] South Carolina
REPRESENTATIVE. INSTEAD OF ASKING QUESTIONS I'D LIKE TO REPORT BACK BRIEFLY TO YOU ON WHAT WE HEARD BECAUSE IT WAS VERY EDUCATIONAL FOR ME. THIS WAS...
|
| 00:56:33 |
Peters, Gary - U.S. Representative, [D] Michigan
WE BEEN PARTICULARLY HARD HIT AS RESULT OF WHAT'S BEEN HAPPENING IN THE ECONOMY AND THANKFULLY THE AUTO INDUSTRY IS RESPONDING AND BEEN ADDING JOBS IN...
|
| 00:57:55 |
Mills, Karen Gordon - Administrator
GREAT SMALL BUSINESSES THAT ARE THERE. WE FOCUS ON BOTH MAIN STREET SMALL BUSINESS AND THE KIND OF HIGH-GROWTH SMALL BUSINESSES THAT COULD BE PART...
|
| 01:02:17 |
Cicilline, David N. - U.S. Representative, [D] Rhode Island
WORK. $3 BILLION IN ANNUALIZED AVERAGE. REMAINS UNTAPPED. I UNDERSTAND THAT THAT EARLY STAGE INNOVATION AND INVESTMENT FUNDS INTENDED TO LEVERAGE A...
|
| 01:04:01 |
Mills, Karen Gordon - Administrator
RYLAND. BUT AS THIS FAMILY IS ALL THERE. I KNOW YOU HAVE A FABULOUS ENTREPRENEURS. THE FUND HAD A RECORD YEAR. HEADER RECORD YEAR IN A NUMBER OF WAYS....
|
| 01:07:18 |
Hahn, Janice K - U.S. Representative, [D] California
FORWARD PROBLEMS AND ISSUES THAT WE HAVE HEARD IN OUR DISTRICTS, IT'S CLEAR THAT YOU AND THE ENTIRE SMALL BUSINESS ADMINISTRATION IS WORKING I THINK...
|
| 01:09:57 |
Mills, Karen Gordon - Administrator
TIMES, KEEPING A LEVEL OF UNDERWRITING TO MAKE SURE WE HAVE RISK OVERSIGHT, TAKING THOSE PRINCIPLES AND THE PRODUCT EXACTLY AS U.S. IN KNOW, ONE OF...
|
| 01:13:16 |
Richmond, Cedric L - U.S. Representative, [D] Louisiana
THEY CAN FLOURISH AND FULFILL THEIR MISSION AND CONTINUE TO EMPLOY PEOPLE. IT IS AN IMPORTANT ASPECT OF IT, WITH THE OTHER ASPECT OF IT WHICH STARS...
|
| 01:13:50 |
Mills, Karen Gordon - Administrator
PUT MORE CASH IN THE HANDS OF SMALL BUSINESS RIGHT NOW BECAUSE WE HAVE SEEN IS THAT WHEN THEY HAVE MORE CASH AVAILABLE SUCH AS IN THEIR PAYROLL TAX...
|
| 01:18:00 |
Coffman, Mike - U.S. Representative, [R] Colorado
THERE IS CERTAINLY CLARITY AND BALANCE, BUT THAT AS IT FILTERS DOWN PERHAPS THERE IS NOT BALANCED. I JUST WANT TO SAY THAT THERE IS IN BALANCE, AND...
|
| 01:20:50 |
Mills, Karen Gordon - Administrator
AND WE HAVE TO MAKE SURE THAT THEY GET ACCESS AND THE VIRGINITY. OCTOBER 2008I WAS HEARING AND NEED A LOAN TO SAVE MY BUSINESS. NOW I HERE I NEED A LOAN...
|
| 01:22:16 |
Velazquez, Nydia M. - U.S. Representative, [D] New York
LENDERS. 1,339 MAY THREE LOANS LESS. MY GUESS IS SOME OF THE LENDERS THAT CAME INTO THE PROGRAM WERE ATTRACTED BY THE PROVISIONS OF THE RECOVERY ACT....
|
| 01:23:07 |
Mills, Karen Gordon - Administrator
A VERY GOOD JOB. WE ARE BRINGING THEM IN THROUGH TRAINING, EDUCATION, PARTICIPATION, ACTIVE PARTICIPATION WITH THEIR ASSOCIATION. AND ON THE GROUND...
|
| 01:25:34 |
Graves, Samuel "Sam" B. - U.S. Representative, [R] Missouri
IF WE COULD. [INAUDIBLE CONVERSATIONS] >> ALL RIGHT. [INAUDIBLE CONVERSATIONS] [INAUDIBLE CONVERSATIONS] >>
|
NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.