House Small Business Chair Wants SBA Sequester Answers From Mills


April 4, 2013

sba-administrator-karen-millsDemanding SBA travel records, House Small Business Chairman Sam Graves has asked SBA Administrator Karen Mills what she plans on doing to mitigate the impact of sequestration of the agency’s core mission.

Congressman Graves is concerned over a letter Mills’ has sent to the Senate where she said sequestration would cut the SBA loan subsidy, leaving the agency unable to give loans to close to 2,000 small businesses.

Graves is asking what contingency plans SBA has for its loan programs including;

· Whether funds will be transferred between 7(a) and 504 loan programs
· Will there be a cap?
· What are the plans for a priority system for applicants?
· Is the agency planning on reprograming funds from other SBA accounts to the business loan program account?

The committee chairman is also requesting the following information:

· SBA Travel costs through September 2013
· SBA International Trade travel costs through September 2013
· SBA Small Business Week Costs
· Explain why Regional Innovation Clusters continue to receive funding, given the program is not authorized by law
· Costs for hosting the website for businesses participating the SBIR program.

The administrator’s response is due April 15th and she is “invited” to a House hearing on April 24th.

Read Congressman Sam Graves Letter to Karen Mills