SBA Disaster Loans Available in Georgia Following Secretary of Agriculture Disaster Declaration

(BUSINESS WIRE)--The U.S. Small Business Administration announces today that federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in Camden, Charlton, Clinch, Echols and Ware counties in southeastern Georgia as a result of drought that began on January 1, 2011.

“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to assist eligible entities affected by the same disaster”

“These counties are eligible because they are contiguous to one or more primary counties in Florida. The Small Business Administration recognizes that disasters do not usually stop at county or state lines. For that reason, counties adjacent to primary counties named in the declaration are included,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.

“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to assist eligible entities affected by the same disaster,” said Skaggs.

Under this declaration, the SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of the disaster. With the exception of aquacultural enterprises, agricultural producers, farmers and ranchers are not eligible to apply to SBA, but nurseries are eligible to apply for EIDLs for losses caused by drought conditions.

Loan amounts can be up to $2 million, with interest rates of 3 percent for non-profit organizations and 4 percent for small businesses. Terms can be up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. The agency sets loan amounts and terms based on each applicant’s financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.

To obtain information on the SBA’s Disaster Loan Program, application forms or to apply online visit www.sba.gov, call the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for people with speech and hearing disabilities) Monday through Friday from 8 a.m. to 6 p.m. ET or send an e-mail to disastercustomerservice@sba.gov.

Completed loan applications must be returned to SBA no later than December 5, 2011.

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Small Business Financing Bill May Shortchange Veterans

/PRNewswire/ -- While applauding its intent, leaders of The American Legion say that new federal legislation designed to bolster small business may not do enough to support veteran-owned enterprises.

The legislation being questioned by The American Legion is H.R. 5297, the Small Business Jobs and Credit Act of 2010. Introduced by Rep. Barney Frank (D-Mass.) this past May, H.R. 5297 would create a $30 billion small business lending fund to be administered by the Secretary of the Treasury, as well as provide $12 billion in tax breaks to help small businesses.

"The Small Business Jobs and Credit Act is a terrific piece of legislation in its purpose," says Joe Sharpe, director of The American Legion's economic commission, "but it does very little, if anything, to correct the sorry circumstances facing service-disabled, veteran-owned small businesses today."

Government regulations require that three percent of all appropriate government contract money be awarded to eligible small businesses owned by service-disabled military veterans. Yet, to date, awards have totaled only about half that mandate.

"We are not asking for preferential treatment, but simply some legislative language that levels the playing field," says Sharpe. "Without going into minute detail, let's just say the current wording does not do the job."

Jimmie Foster, national commander of The American Legion, says, "Historically, the federal government has done very poorly with regards to implementing veteran preference rules on contracts. This time, from our point of view, things must be different. When implementation of this law is accomplished, veteran-owned businesses must finally be able to gain the recognition – and contracts – they deserve. The American Legion will campaign hard to make sure that happens."

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Many More Small Businesses Now Eligible for Long-Term Financing With SBA 504 Loans

/PRNewswire/ -- A number of very substantial benefits for America's small businesses were incorporated into the Small Business Jobs and Credit Act of 2010, recently passed in Congress. Included in the legislation were major enhancements to the SBA 504 loan program, an important U.S. Small Business Administration financing program. SBA 504 loans are long-term, government-guaranteed loans designed for small businesses to finance the purchase, construction or renovation of commercial real estate and the purchase of long-term capital assets.

As a result of the legislation, many more small business owners across the country now qualify to receive SBA 504 loans. The net worth for companies to be eligible for an SBA 504 loan was increased, maximum loan size was raised and refinancing of existing debt was also approved.

Among the most important benefits included in the Small Business Jobs and Credit Act of 2010 is an extension of the fee relief for SBA 504 loans. This fee waiver was first enacted in February 2009 as part of the American Recovery and Reinvestment Recovery Act. An additional $505 million has been allocated to fund SBA loan fees through December 31, 2010 saving borrowers many thousands of dollars.

Maximum loan amounts were also permanently increased to a range of $5 to $5.5 million from a previous maximum range of $1.5 to $4 million. Larger projects are now eligible for 504 loans and borrowers who already have loans with the SBA can now return for additional funding.

There was also an increase in the business size standard to be eligible for an SBA 504 loan. Businesses with a tangible net worth of $15 million and 2-year average net income after Federal income tax of $5 million, are now be eligible to apply for SBA 504 financing opening the door to many more small business owners across the country.

Perhaps one of the most beneficial enhancements to the SBA 504 loan program is a temporary two-year program for refinancing existing small business commercial debt. Small business owners holding commercial real-estate loans with undesirable rates will have the opportunity to refinance these loans using the SBA 504 loan program. This will be a boon for small businesses that are having difficulty keeping current on existing high-interest loans since SBA 504 loans are currently available at extremely attractive interest rates. Businesses will be able to remain in their facilities while lenders are not left holding vacant real estate.

SBA 504 loans are typically used by small businesses needing more operating space or by businesses that have lost their leases and decide to invest in their own facilities. Still others want to construct or retrofit facilities to incorporate energy efficient technologies to decrease operating expenses. Businesses needing to invest in capital-intensive equipment and machinery also look to the SBA 504 loan for funding. Small business owners definitely see the advantage of the low down payment which is typically only 10%. The hidden value to our economy is that all SBA 504 loan recipients are also adding jobs in their communities.

Certified Development Companies, or CDCs, are the SBA's conduit for providing 504 loans on Main Street. They are ready and waiting for the anticipated increase in demand this new legislation will generate. CDCs know that many small business borrowers will want to take advantage of these long-term, fixed, low interest rate loans now. Chris Crawford, President of NADCO, the trade association for the nation's CDCs pointed out, "The bottom line is that more small businesses now have an opportunity to invest in their own facilities or expand existing facilities using SBA 504 financing. At a time when the commercial real estate market is depressed and property is more affordable, this is great news for many small business owners."

Since 1986 the Certified Development Company industry has provided nearly $60 billion worth of financing to over 123,700 American small businesses resulting in the creation or retention of over 2.2 million jobs. Contact a Certified Development Company to discuss the program or visit the NADCO website at www.nadco.org for additional information.

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Passage of Small Business Jobs Act a Huge Win

/PRNewswire/ -- NSBA applauds the House's prompt approval of the Small Business Jobs Act today. Offering various tax incentives, a much-needed small business lending fund and numerous other pro-small-business provisions, the legislation stands to be of great assistance to America's struggling small businesses. Among the various provisions is the incredibly-important but less-talked-about language that will make health insurance more affordable for the nation's self-employed.

"Seemingly absent in discussions over this bill is the fact that it will end a major tax inequity which forces the self-employed to pay an additional 15.3 percent tax on the cost of their health insurance," stated NSBA President and CEO Todd McCracken. "For years, this unfair penalty has been a thorn in the sides of millions of self-employed individuals, and we applaud its inclusion in this bill."

The Small Business Jobs Act will allow self-employed individuals to fully deduct the cost of their health insurance from their self-employment taxes for 2010. Currently, self-employed individuals are prohibited from fully deducting the cost of their health insurance from their self-employment taxes, resulting in an additional tax that no other worker or business owner is forced to pay.

Additionally, the Small Business Jobs Act includes myriad avenues that will benefit small businesses, including: improved access to capital via small- and mid-sized community banks and through the extension of the highly-successful SBA stimulus lending programs; meaningful tax breaks such as an extension of the bonus depreciation and expanded Section 179 expensing; strengthening of the SBA Office of Advocacy - the regulatory watch-dog for small business within the federal government; an improved federal marketplace for small-business contractors; and enhanced exporting opportunities for small businesses.

"This bill offers a broad array of initiatives that will help America's small businesses," stated Larry Nannis, chair of NSBA and shareholder at Levine, Katz, Nannis + Solomon, PC. "And it comes not a moment too soon."

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Obama Jobs Bill and Task Force Ignore Major Challenge for Small Businesses, According to the American Small Business League

/PRNewswire/ -- The following is a statement by the American Small Business League:

Neither the Obama Administration's Jobs Bill nor the recommendations released on Wednesday by President Obama's Small Business Task force contain any language that will stop the federal government from giving billions of dollars a month in small business contracts to Fortune 1000 firms.

During his campaign, President Obama promised to end the diversion of federal small business contracts to Fortune 1000 firms and stated, "It is time to end the diversion of federal small business contracts to corporate giants." (http://www.barackobama.com/2008/02/26/the_american_small_business_le.php)

Since 2003, over a dozen federal investigations have found corporate giants from around the world as the actual recipients of billions of dollars in federal small business contracts.

Some of the firms that have received government small business contracts include: Rolls-Royce, British Aerospace (BAE), Lockheed Martin, Boeing, Northrop Grumman, L-3 Communications, SAIC, Titan Industries, Raytheon, Dell Computer, Xerox, French firm Thales Communications, Italian firm Finmeccanica SpA, and Ssangyong Corporation headquartered in Seoul, South Korea. Textron, a Fortune 500 firm, received over $775 million in federal small business contracts in a single year.

In 2005, the Small Business Administration Office of Inspector General (SBA IG) referred to the diversion of federal small business contracts to corporate giants as, "One of the most important challenges facing the Small Business Administration and the entire Federal government today." (http://www.asbl.com/documents/05-15.pdf)

In Report 5-16, the SBA IG found large businesses had received federal small business contracts illegally by making "false certifications" and "improper certifications." The SBA Office of Advocacy found large businesses had received small business contracts illegally through "vendor deception." (http://www.asbl.com/documents/05-16.pdf)

Section 16(d) of the Small Business Act prescribes a penalty of up to ten years in prison for firms that misrepresent themselves as small businesses to illegally receive federal small business contracts.

As opposed to offering legislation and policy that will end the diversion of federal small business contracts to corporate giants, language in the "jobs bill" could actually protect large businesses that misrepresent themselves to illegally receive federal small business contracts.

Section 1341, paragraph 4 of H.R. 5297, Small Business Jobs Act, creates a legal loophole that could allow fraudulent firms to avoid prosecution and penalties by claiming they received federal small business contracts through, "unintentional errors, technical malfunctions, and other similar situations."

If the bill becomes law the American Small Business League (ASBL) plans to challenge the language in section 1341 in federal court.

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GSU unveils small business tax credit calculator for health reform

Georgia State University researchers have unveiled a small business tax credit calculator to help employers crunch the numbers to see if they’re eligible for health reform credits under the new law.

The tool, called the 50-State Health Reform Calculator for Small Businesses, will help small employers, including non-profits, determine if they’re eligible for tax subsidies to cover part of the cost of health insurance starting this year. It is the first comprehensive nationwide calculator for all states. It can be accessed at www.gsu.edu/ghpc.

“We’re trying to provide information for employers about the impact and effects of health reform on their business decisions,” said Bill Custer, associate professor and director of the Institute of Health Administration in the J. Mack Robinson College of Business.

Small businesses, or employers with fewer than 25 full time employees making less than $50,000, may be eligible for tax credits to help cover the cost of insurance starting this year.

Incentives are being offered because as premiums have increased, the number of workers with employer-sponsored health coverage has declined.

Custer, with associate professor Patricia Ketsche, also of the Institute of Health Administration, developed the tool in collaboration with the Georgia Health Policy Center in the Andrew Young School of Policy Studies, the Florida Public Health Institute and the Center for Mississippi Health Policy.

The Georgia Health Policy Center has spearheaded a collaborative effort to break down the complexities of the nation’s health reform law through a series of policy briefs. The latest is “Health Reform Implications for Employers,” which was released last week (http://bit.ly/9u3z4q).

Other topics have included state and community implications and the impact to health care providers. Many states have come to the center to request a breakdown of health reform and its impact in their localities.

The calculator is the latest tool being offered in a series intended to help consumers, employers, providers and policy makers understand health reform.

“This has been a great opportunity to not only partner across Georgia State University, but with other states, to bring relevant information about health reform to those who will be impacted by the law,” said Karen Minyard, executive director of the Georgia Health Policy Center. “Our group’s goal from the beginning has been to interpret, share, and apply what is learned to real world situations.”

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Senate Extends Small Business Loan Changes to Boost Job Creation

/PRNewswire/ -- U.S. Senate Committee on Small Business and Entrepreneurship Chair Mary L. Landrieu, D-La., today praised the Senate's extension of two important Recovery Act provisions: increased government guarantees and eliminated fees on small business loans. The measure - as well as a tax credit to help reservist employers - passed as part of the American Workers, State and Business Relief Act, the second in a series of bills that are part of the Senate's jobs agenda.

"Not only are the increased government guarantees and eliminated fees on small business loans being extended through the end of the year, but to ensure the programs do not run out of funding prematurely, I have worked hard to fully fund these programs at $620 million," Sen. Landrieu said. "While the provisions have already helped provide $18.2 billion in lending to more than 40,000 small businesses and helped to create more than 500,000 jobs in the last year, there are still many more small businesses that need loans. Funding the programs through the end of the year will help meet that demand and also help create or save hundreds of thousands of jobs. I'd like to thank Senators Baucus and Durbin for working with me to make sure this important provision was fully funded in this jobs bill."

Chair Landrieu, along with Ranking Member Olympia Snowe, included an extension of these provisions as part of S. 2869, The Small Business Job Creation and Access to Capital Act, that was voted out of Committee in early December. To read more about the bill, please click here.

The bill also included a provision that extends through 2010 a tax credit for small businesses that pay the salary differential to reservist employees called up for active duty. This small business tax credit provides incentive for small employers to eliminate any pay gap between civilian and military pay.

"As our soldiers serve far from home, they often take a cut in pay by switching from civilian to military payroll, leaving families to tighten their belts at an already tough time," Sen. Landrieu said. "This is not right. Our brave soldiers should not be penalized for serving America, nor should the small business owners who want to help their employees but are already suffering in these harsh economic times. With the extension of this important tax credit, our soldiers, their families, and the small businesses they work for will be protected from the fiscal burdens that come with active duty."

Senator Landrieu was a co-sponsor of the measure, originally introduced by Senator John Kerry, D-Mass., in November 2009.

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Senate Approves Extension of SBA Programs

/PRNewswire/ -- The United States Senate today approved an extension of several of the Small Business Administration's (SBA) programs through April 30, 2010. This includes the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, which without the extension would expire. Upon passage of the extension, Senate Committee on Small Business and Entrepreneurship Chair Mary L. Landrieu, D-La., issued the following statement:

"A three-month extension of the SBA and its programs, including important programs to spur innovation and research, ensures that these programs will persist while we continue negotiations with the House to reach a strong compromise on the future of the SBIR and STTR programs. These research initiatives are vital to our country's competitiveness and to job creation, as about 20 percent of SBIR participants say they started their company in part because of a prospective SBIR award. As we seek to improve the economy and create jobs, now is not the time to let these job-creating programs slip by the wayside.

"This is a good opportunity for the agencies and the states to work together to promote the programs and encourage entrepreneurs, engineers and scientists looking for jobs to apply for these research and development projects - putting them back to work and helping our country tap new talent to create cutting-edge innovations for our military and new advances in health care and alternative energy."

Small firms employ 41 percent of the nation's high-tech workers and generate 13 to 14 times more patents per employee than large firms. The SBIR program alone has generated more than 84,000 patents and millions of jobs. Eleven federal agencies participate in the SBIR program - including the Department of Defense and National Science Foundation - allocating 2.5 percent of their extramural research and development dollars for the program.

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SBA Disaster Assistance Available to Private Non-Profit Organizations in Georgia

(BUSINESS WIRE)--The U.S. Small Business Administration announces certain Private Non-Profit Organizations (PNPs) that do not provide critical services of a governmental nature may be eligible to apply for low-interest rate disaster loans. These loans are available following a Presidential Disaster Declaration for Public Assistance resulting from damages caused by severe storms and flooding that began on September 18, 2009.

PNPs located in Carroll, Catoosa, Chattooga, Cherokee, Cobb, Crawford, Dawson, DeKalb, Dooly, Douglas, Fulton, Gwinnett, Heard, Houston, Newton, Peach, Paulding, Rockdale, Stephens, Taylor and Walker counties in the state of Georgia are eligible to apply to SBA. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.

PNP organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The SBA also offers mitigation funds to disaster victims based on 20 percent of the verified physical damage. These funds are designed to help borrowers pay for protective measures to minimize damages of the same kind in the future.

The SBA offers Economic Injury Disaster Loans to help meet working capital needs, such as ongoing operating expenses to PNP organizations of all sizes. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.

Interest rates are as low as 4 percent with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

“PNP organizations are urged to contact their county emergency managers to obtain information about local briefings. At the meeting, PNP representatives will need to provide information about their organization,” said Frank Skaggs, Director of SBA Field Operations Center East.

This information will be used to submit a “Request for Public Assistance” which FEMA uses to determine if the PNP provides an essential governmental service and meets the definition of a “critical facility.” Based upon that conclusion, FEMA will either refer the PNP to SBA for disaster loan assistance or possibly provide a “Public Assistance” reimbursement grant for eligible costs.

Disaster loan information and application forms may be obtained by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. to 6 p.m. EDT. Also, PNPs may obtain information and application forms by sending an email to disastercustomerservice@sba.gov. Applications can also be downloaded from www.sba.gov/services/disasterassistance. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

PNPs may visit SBA’s secure Web site at https://disasterloan.sba.gov/ela/ to apply for disaster loans.

The filing deadline to return applications for physical property damage is November 25, 2009. The deadline to return economic injury applications is June 28, 2010.

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Allan Vigil Ford to Host Clayton State SBDC Entrepreneur Success Series

What better venue is there for the next installment of Clayton State University’s Small Business Development Center’s (SBDC) popular Entrepreneur Success Series (ESS) than one of the Southern Crescent’s most notable business establishments?

SBDC Director Kyle Hensel has announced that the next seven-week ESS, running from Aug. 11 through Sept. 22, will beheld in the Conference Room of Allan Vigil Ford, 6790 Mt. Zion Blvd., Morrow, Ga. Each of the seven Tuesday night sessions will run from 6 p.m. to 8:30 p.m.

Planning and knowledge provide a competitive advantage in the marketplace, and this popular series of programs has helped launch hundreds of businesses,” says Hensel. “The seven-part ESS series includes valuable recommendations, research ideas, and an overview of the important areas of business operation from a practical perspective. The ESS series focuses on the needs of aspiring entrepreneurs and owners of new businesses.

Classes may be taken separately for $69 each, or individuals may take the complete series for the discounted price of $349. A certificate of completion is awarded after attending all seven classes. Contact the SDBC office at (678) 466-5100 for more details, or to register.

The class schedule is as follows…

Aug. 11 -- Starting a Business

If you are considering starting a small business, this workshop is a crucial first step. Topics for discussion include: traits of successful entrepreneurs, market research, legal structures for your business, estimating start-up costs & cash flow projection, financing alternatives, failure factors, and business planning. A detailed business start-up workbook and other handouts are provided.

Aug. 18 -- Small Business Legal Issues

This class presents information regarding the different legal structures, advantages and disadvantages of each structure, formation and ongoing requirements, liability issues and tax implications, and other statutory requirements including licensing, trade name registration, service marks and trademarks.

Aug. 25 -- Setting Up Business Records

Launching a business requires the setup of records and systems in the areas of accounting, personnel and organizational documents. Participants receive templates and guidelines that list various accounting tasks and essential policies to safeguard business assets, as well as checklists to insure that personnel and company files include regulatory documents.

Sept. 1 -- Marketing Your Small Business

Successful, high-impact marketing relies less on money and more on knowing how to use time, energy and imagination. This seminar tells what’s hot, how to position yourself in the marketplace and write an effective marketing plan, what gets customers in the door, how to make the sale, and keep them coming back – without spending a small fortune!

Sept. 8 -- Writing an Effective Business Plan

A business plan helps you start, manage and build your business. The course covers the general business plan format and the information required for each section.

Sept. 15 -- Tax Tips for the Small Business

All aspects of federal/state taxes will be covered in this class, including registration requirements for each legal form of business, tax obligations for employees and independent contractors, computation of employee payroll taxes and filing periodic returns and issues relating to specific deductible business expenses such as entertainment, the use of a personal automobile and the home.

Sept. 22 -- Financing the Business

See step-by-step how to finance a start-up or growing business and how to prepare a winning package for any type of financial assistance. Topics include different financing options such as bank loans, SBA guaranteed loans, non-bank lenders, private investors, and myths and realities of grant funding.

A unit of the University System of Georgia, Clayton State University is an outstanding comprehensive metropolitan university located 15 miles southeast of downtown Atlanta.
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Gingrey Successfully Defends Funding for University of West Georgia’s Small Business Assistance Program

As Georgia’s unemployment numbers climbed to double digits for the first time in recorded history, Rep. Gingrey went to the floor of the House of Representatives to successfully fight an attempt to eliminate funding for the University of West Georgia’s Small Business Assistance Program. Rep. Jeff Flake of Arizona offered an amendment to the Financial Services and General Government Appropriations Act to strike out funding for the University of West Georgia. The Amendment was defeated with 342 in opposition and only 89 in support.

This program is a collaboration between the University of West Georgia’s Small Business Development Center and the Carroll County Economic Development Foundation’s Burson Center. Through this program, new and emerging small businesses can access office space, equipment, on-site services, and one-on-one business counseling in Carroll and its neighboring counties – including Paulding, Bartow, Floyd, Polk, and Haralson. The funding secured by Rep. Gingrey would specifically be used to assist veterans returning from overseas who face added challenges during the current economic climate. Congressman Gingrey has a history of opposing wasteful spending while supporting well-vetted, community sponsored requests.

The text, audio, and video of Congressman Gingrey’s defense of this critical small business support program in included below. Click on the link below to view the video of Rep. Gingrey’s remarks.

http://tiny.cc/P4Gk5

Mr. Chairman, I rise in opposition to the amendment offered by my friend and colleague from Arizona. I first want to express my thanks to Chairman Serrano and Ranking Member Emerson for their support of my request.

But, I also want to express my gratitude to the gentleman from Arizona for his vigilance and his conviction on reducing the size of government. I share that conviction even as I continue to believe in the importance of ensuring that some portion of the Federal dollars that my constituents send to Washington is returned back to them and our district, preferably through tax relief, but when necessary through direct support of responsible and well-vetted local initiatives.

Like the gentleman from Arizona, I am also frustrated by this process. There is no doubt that Washington spends too much money, and that we need to trim down the size of the Federal government and root out the practices that lead to quid pro quos and unethical expenditures of Federal taxpayer dollars.

As the gentleman from Arizona knows, I have always believed that sunlight is the best disinfectant. In fact, I have been a proponent of earmark reform and have introduced legislation that would not only reduce and equalize the amount of earmarks but also allow Members to return their district’s fair share back to the Treasury.

Now, I recognize that there may be some members who might shudder at the thought of having to come to the floor and defend a request that they have made. Mr. Chairman, I would not have made the request, and I would not be standing here right now if I did not believe in its merit, so I welcome the opportunity to defend it.

Very simply, this $100,000 would go to the University of West Georgia’s Small Business Development Center and their partnership with the Carroll County Economic Development Foundation’s Burson Center to fund the expansion of their small business support center or incubator. This center—which already exists—provides resources ranging from business counseling, to temporary office space, to technical support, and access to an on-line database of Angle Investors Networks looking to start a potentially successful small business.

Specifically, this expansion will target the more than 12,000 veterans that the VA estimates will be returning to Western Georgia over the coming year. Given the tight job market, 30% or more of these returning veterans will attempt to start their own business and will likely require some type of support in beginning that effort.
Further, allow me to provide a little more context for this request and the needs that this Center is seeking to meet. Here are the six counties that this Center services, as well as the unemployment rate in each county: Carroll—11.0% unemployment; Bartow—11.5% unemployment; Floyd—10.4% unemployment; Paulding—9.8% unemployment; Haralson—12.2%; and Polk—10.5% unemployment.

Now, Mr. Chairman, I would much prefer to spend $100,000 to aid the creation of a small business and foster productivity and job growth, rather than allow that $100,000 to fund another welfare or entitlement program. I reference the old adage of giving a man a fish and feeding him for a day—but give him a fishing pole and feed him for life. Well, I believe that this request is clearly an example of the latter.

I urge my colleagues to oppose this amendment and reserve the balance of my time.
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Tips for Small Businesses to Avoid Cash Reserves in a Recession

/PRNewswire/ -- As if the recession is not enough to deal with, for small and medium businesses that are growing during these hard times you need to be aware that your credit card processor may view your growth as a potential indicator that you are at risk of going under and institute cash reserves. Unfortunately the industry has learned from experience that some merchants, about to go under, commit fraud by processing bogus orders to bolster cash flow; which is seen by the processor as a spike in sales from the merchant. In a time where bankruptcies and business closures are rising it is only natural that processors are nervous.

An unfortunate byproduct of this negative behavior is that legitimate merchants showing too much growth over a short timeframe can also be branded as being at "risk." For those of you that may not understand the way the relationship between merchants and processors works, the processor is on the hook to pay for any consumer losses, chargebacks, if a merchant goes out of business and cannot, or decides not to, cover those losses.

This being said, it should be understood that a spike in sales is not the only reason a processor may want to implement reserves, there are a number of factors that are looked at. The point is if you are one of the lucky few merchants experiencing growth you can take proactive steps that could help you avoid the reserves scenario.

First: Open Communications -- Talk with your processor, tell them about your growth, show them recent press releases or financials that show your growth is in fact healthy. Make sure to talk about why you are experiencing growth in a down market. Did you reduce your prices? Do you have the market cornered? New hot product releases? Did you get better pricing on your goods?

Second: Set Expectations -- Let them know if you are going to be having any type of large promotion, sales event or hot new product release. No one likes to be surprised, and you don't want the processor to sound the alarm when they see your sales skyrocketing from sales of the next Tickle-Me Elmo craze they didn't even know you were selling.

Third: Customer Service Signals -- I can't say this with enough emphasis, you need to manage your customer service signals, chargebacks, credits and refunds. If you successfully open a dialogue and set expectations but your customer service signals don't support the story you are telling; you are going to have a tough road to travel.

Fourth: Create a Competitive Situation -- If you are experiencing significant growth, consider connecting to a second credit card processor and running a small portion of your transactions through the second account. This will reduce load on the first processor, making growth look smaller, and it provides you leverage to pressure your credit card processors to reconsider cash reserves.

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Obama Dropped Small Business Stimulus Plan Days Before the Election

/PRNewswire-USNewswire/ -- Just days before the election, President Barack Obama dropped a comprehensive plan to stimulate the middle class economy by stopping the diversion of federal small business contracts to corporate giants. The plan was drafted over the course of three months by dozens of small business experts around the country who had been invited to serve on President Obama's small business advisory panel.

The plan included a number of policies that would have redirected up to $100 billion a year in federal small business contracts back to legitimate middle class firms around the country.

Since 2003, a series of over 15 federal investigations found Bush Administration officials allowed billions of dollars in federal small business contracts to be diverted to Fortune 500 firms, their subsidiaries and thousands of large businesses in the United States and Europe.

A report issued by the Small Business Administration (SBA) Office of Inspector General (OIG) referred to the diversion of federal small business contracts to large businesses as, "One of the most important challenges facing the Small Business Administration and the entire Federal government today." (http://www.sba.gov/IG/05-15.pdf)

President Obama responded to the investigations in February of 2008 with the statement, "It is time to end the diversion of federal small business contracts to corporate giants." (http://www.barackobama.com/2008/02/26/the_american_small_business_le.php)

The plan included support for a new piece of draft legislation written by the American Small Business League (ASBL) titled the Fairness and Transparency in Contracting Act. The new legislation would prevent government contracting officials from awarding small business contracts to Fortune 500 firms and other large businesses. The ASBL estimates the new legislation would provide a dramatic boost to the nation's failing economy by redirecting up to $100 billion a year in federal infrastructure funds to middle class firms.

As opposed to other stimulus plans that could cost taxpayers hundreds of billions of dollars, the Fairness and Transparency in Contracting Act would be virtually free to taxpayers.

In December President Obama's transition team stated that up to 40,000 jobs could be created with every billion dollars spent on federal infrastructure projects. (http://www.nytimes.com/2008/12/07/us/politics/07radio.html?_r=1) If calculations by President Obama and the ASBL are correct, the Fairness and Transparency in Contracting Act could create over 4 million new jobs at virtually no expense to taxpayers.

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Georgia's Economic Recovery Depends on Small Business

(BUSINESS WIRE)--Georgia's economic recovery will depend on small business. That message is driven home in the newly updated Georgia Small Business Profile released today by the Office of Advocacy of the U.S. Small Business Administration. The most recent data show that the state has 177,445 small employers, and they employ 97.9% of the state’s workforce.

“Georgia depends on small business for jobs and economic growth,” said Shawne McGibbon, Acting Chief Counsel for Advocacy. “During this time of financial stress and economic instability, policymakers need to remember that the state’s small businesses provide the economic base for its families and communities.”

To further highlight the importance of small business, the updated profile notes that small businesses created all of the state's net new jobs from 2004 to 2005 (latest available data).

Not only does the state’s economy depend on the health of its small businesses, so too does the economy of the United States.

The U.S. has slightly more than 6 million small employers, or 99.7% of all employer firms, and they provide 50.4% of its private sector employment. These firms created 78.9% of the nation’s net new jobs from 2004 to 2005, and they generated more than half of the private non-farm gross domestic product.

The Office of Advocacy, the “small business watchdog” of the federal government, examines the role and status of small business in the economy and independently represents the views of small business to federal agencies, Congress, and the President. It is the source for small business statistics presented in user-friendly formats, and it funds research into small business issues.

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Women Entrepreneurs: A Fast-Growing Segment in Franchising, FranNet Says

(BUSINESS WIRE)--According to the International Franchise Association (IFA), women have founded 23 franchise systems in the United States, and the number of women-owned franchises continues to climb. Within a 10 year span, women-owned franchises increased nearly 17 percent according to the International Franchise Association reports. In addition, women, in general, put a strong emphasis on networking, and building and maintaining positive workplace relationships, the Association said.

All in all – women continue to make strong impacts in the franchising market.

To keep momentum going, while recognizing Women's Small Business Month this October, FranNet salutes local women and their success in the corporate world, especially in franchising, said Jania Bailey, president and COO of FranNet.

"Franchising offers so many options for both men and women. However, through franchising, women can attain an enjoyable work-life balance," Bailey said. "Owning a small franchise business allows a woman to work around her lifestyle, instead of her having to work around her job. And, owning a franchise is like being in a family – an environment from which women naturally enjoy being a part of."

The success of women business owners spans across various markets. But there are certain sectors that are more popularized by women, Bailey said, including:

* Child-focused franchises: Tutoring/educational companies, fitness programs, fun centers/birthday parties, creative and art-related businesses, daycare franchises
* Service franchises: Fitness centers, expense management, residential cleaning, marketing, home décor, home improvement, business coaching, pet services, executive counseling, and consulting.
* Computer/Internet franchises: Web site creation, search engine marketing, consulting, and repair are all fields that are excellent as home-based businesses.

"There are many opportunities in franchising and more women will seek a work-life balance – making franchising a more desirable alternative for business ownership," Bailey said.

FranNet consultants work individually with clients who are interested in purchasing a franchise business. They use a specific profiling and consultative process to determine a business model unique to each person, suggesting specific franchises that would best fit with each person's goals, skill sets and interests, both personally and professionally.

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Griffin MarCom Inc. Returning to Atlanta

(BUSINESS WIRE)--Griffin MarCom Inc. www.griffinmarcom.com, a fast growing strategic marketing and communications agency, today announced its return to the Atlanta market, where it was originally founded in 2000. The firm and its founder, well known for business leadership in Atlanta, return after a 5-year hiatus.

In conjunction with its return, Griffin MarCom will provide free, and discounted strategic marketing and communications support to a select group of Atlanta area nonprofits and small businesses. Nonprofits and corporate sponsors needing support should email info@griffinmarcom.com, to submit requests – which will be taken on a case-by-case basis.

“We are very excited about returning to this market,” said company founder and president, Russell Griffin. “The Atlanta market is unlike any other. With the potent mixture of Fortune 500 and established corporate enterprises – and the vibrant small business, technology, and nonprofit arenas, as well as the entertainment industry, and quality of life - we have long felt this market to be the best location for our headquarters,” Griffin said.

Griffin MarCom re-opened its doors for business in January of this year, after Griffin’s 5-year return to the corporate executive ranks, with MetLife. Griffin served as Head of eBusiness for MetLife Auto & Home, and as Head of Diversity for MetLife Individual Business. The company re-launched in Rhode Island - where Griffin has resided since 2003 - and will maintain its New England base of operations.

Griffin MarCom, and its president, came to prominence in Atlanta in the late 90’s. In addition to founding the firm, Griffin was the Executive Director of the successful technology think tank – Minority Technology Entrepreneurs, MiTE. He also supported a number of high profile for profit and nonprofit initiatives. The firm currently partners with a number of Atlanta businesses, to provide support to area organizations.

The firm will announce the area nonprofits selected to receive support in early September.

“We’ve always found that nonprofits have the greatest need, and the least amount of resources, together with significant opportunity for positive impact. We intend to be of service,” says Griffin.

Additionally, Griffin will resume volunteer work with the United Way African American Partnership, and other select programs. Griffin MarCom currently supports a number of corporate, small business and nonprofit clients.

Clayton State SBDC Schedules Entrepreneur Success Series in Henry County

The Clayton State University Small Business Development Center (SBDC) will be holding its Entrepreneur Success Series (ESS) in Henry County this summer.

A series of seven classes focusing on the needs of aspiring entrepreneurs and owners of new businesses, ESS will be held at the Henry County Chamber of Commerce, 1709 Highway 20 West, McDonough, Ga., with all sessions running from 6 p.m. to 9 p.m. on seven successive Wednesday evenings.

The sessions include: Starting a Business (July 30); Marketing Your Small Business (Aug. 6); Setting Up Records (Aug. 13); Small Business Legal Issues (Aug. 20); Tax Tips for the Small Business (Aug. 27); Writing an Effective Business Plan (Sept. 3); and Financing the Business (Sept. 10).

“Planning and knowledge provide a competitive advantage in the marketplace, and this popular series of programs has helped launch hundreds of new businesses,” notes SBDC Business Consultant Donna Kelsick. “This seven-part series includes valuable recommendations, research ideas, and an overview of the important areas of business operation from a practical perspective.”

A certificate of completion is awarded after attending all seven classes. Classes may be taken separately (at a cost of $69 per session) for specific information needs, or individuals can take the complete series for the discounted price of $349.

For more information, or to register on line for the ESS, go to www.business.clayton.edu/sbdc or call (678) 466-5100.

Cbeyond Ranks Seventh among Georgia’s Top Public Companies

BUSINESS WIRE--Cbeyond^®, Inc. (NASDAQ: CBEY), a leading IP-based managed services provider, ranked seventh on the Atlanta Journal-Constitution’s list of Georgia’s top 100 public companies. Cbeyond improved by nine positions from the 2007 list, which ranked the company sixteenth.

PricewaterhouseCoopers LLP ranked the list of the top 100 public companies based on five weighted variables: annual revenue, year-over-year revenue change, annual change in profit margin in fiscal 2007, return on equity and total return on investment for calendar 2007. The ranking is determined by totaling the five variable rankings for each company and dividing by five.

Featuring a growing portfolio of more than 30 productivity-enhancing applications, Cbeyond is the last communications company a small business will ever need. From landline phone and email access, to BlackBerry® and Hosted Microsoft Exchange, Cbeyond tailors an appropriate solution for its small business customers.

The company also offers a SIP trunking solution, which enables direct IP peering with SIP-enabled IP PBX phone systems. Called BeyondVoice® with SIPconnect, this service eliminates the need for a VoIP gateway on the premise, improves voice quality and creates a strong foundation for personalized applications and rich media services. Cbeyond currently interoperates with more than 20 IP PBX phone systems.

Cbeyond saw significant growth in 2007 propelling it into the top 10 of the Georgia 100. In 2007 the company opened offices in San Diego, Detroit and San Francisco. The company is poised to continue its growth in 2008 with new offices slated to open in Miami, Minneapolis and a third, yet-to-be-announced market. Cbeyond currently serves more than 36,000 small businesses and offers its services in 11 cities throughout the United States.

Focused on measured growth, Cbeyond’s strategy is to leverage its sale-driven distribution model to deeply penetrate the small business community in each city it serves. The company also works closely with each small business customer to design a communications solution to meet their needs.

“Cbeyond experienced great success in 2007 due to our consistent, predictable business model,” said Jim Geiger, chairman and CEO of Cbeyond. “The continued growth and profitability of the company highlights the need small businesses have for big business communication tools that are affordable, reliable, and easy-to-use.”

For more information about Cbeyond and its portfolio of small business communication services, visit www.cbeyond.net.

Dawn Dallaire, CEO of Clearly Fun Soap Inc. Is Georgia’s 2008 Small Business Person of the Year

Pictured (l-r) are Adrienne Sipe, Chairperson of the Georgia Lenders Quality Circle, Dawn Dallaire, and Terri Denison, SBA Georgia District Director

Dawn Dallaire, CEO of Clearly Fun Soap Inc., has been selected the 2008 Small Business of the Year in Georgia by the U.S. Small Business Administration.

Based in Griffin, Georgia, Dallaire started her company five years ago with $47,000 in annual revenues. After reaching sales of $1.8 million in 2006, she is projecting revenues of nearly $3 million this year with a growing customer list that is nationwide and into eight foreign countries.

Dallaire will receive her statewide award from Terri Denison, SBA Georgia District Director, at an Atlanta luncheon on May 22 that is hosted by the Georgia Lenders Quality Circle. She was nominated for the statewide SBA award by the University of Georgia Small Business Development Center at Clayton State University.

With her two children nearing their teens, Ms. Dallaire started her business, Clearly Fun Soap, on her kitchen table in Fayetteville as a way to earn extra money.

After buying a soap-making kit from a craft store, Dallaire’s first homemade items were small toys encased in crystal-clear soaps. After perfecting her techniques, her “goldfish in a bag” soaps have become her signature product for the U.S. gift market. Her trade secret is properly suspending the goldfish and other toys, without allowing them to sink to the bottom and before the soap solidifies.

At first, her soap items were gifts for friends and her children’s teachers. But after meeting with a major wholesale buyer in Atlanta, she took his advice and added new designs to her soaps and expanded her soap-making into the garage. “I was making soaps all day and bagging them in bed at night,” Dallaire recalled.

A major break through came for Dallaire when she drove to Florida with her parents to show her soap products at the Orlando Gift Show. While there, she got orders for $5,000 worth of products and soon repeat orders were coming in. As she continued to self-market and refine her soap products, more sales continued to develop.

Her business quickly outgrew the garage and in 2005 she moved her company to nearby Griffin and a 5,000 square-foot facility that was partially financed with an SBA Community Express Loan.

Late in 2007, her business moved again, this time into its new 10,000 square-foot facility. There, her 15 full time employees and other part time employees, numbering up to 50 workers, produce her line of soaps and other bath products.

Today, her products are in over 3,000 shops and other outlets including Bath & Body Works, Linens ‘N Things, Marshall’s, and TJMaxx. Other accounts are pending at Wal-Mart Mexico, Rite-Aid, and Walgreen’s.

Dallaire has made several TV appearances on the QVC network and was a guest on Donny Deutsch’s “Big Idea” CNBC program on Nov. 5, 2007. She has a book scheduled for publication in May about her success in “Being a Woman in Business in a Man’s World.” The book also covers her personal achievement in losing 120 pounds along the way to her business success.

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Zenith Design Group Recognized as Top Cobb County Small Business

BUSINESS WIRE--Zenith Design Group, Inc., Atlanta’s brightest full-service advertising agency, has been named one of the Top 25 Small Businesses of 2008 by the Cobb County Chamber of Commerce and The Atlanta Journal-Constitution.

Now celebrating its tenth anniversary – a milestone for a fully self-funded organization – Zenith Design Group was founded as a web development company. Its evolution to a full-service advertising agency was the direct result of satisfied clients requesting a broader service offering. Zenith Design Group has developed a strong business marked by outstanding service to loyal customers who have fostered strong sustained growth buffered from market volatility. Since 2005, Zenith Design Group experienced a six-fold growth in revenue while tripling its staff.

“Our satisfied clients have propelled our growth: 93% of our business comes through word of mouth. We have flourished by providing creative, fresh, and thoughtful projects that drive sales, increase awareness, and communicate compelling messages,” said Bonnie Buckner Reavis, founder and CEO of Zenith Design Group. “We raise the bar with each new endeavor; this strategy has paid off. It is quite an honor and affirmation to be recognized as one of the top 25 small businesses in Cobb County.”

Nominations for the Top 25 Small Businesses of the Year were accepted earlier this year and chosen after a review by an independent panel of judges. Candidates were evaluated based on the criteria published by the U.S. Small Business Administration. Those criteria include staying power, growth in number of employees, increase in sales or unit volume, current and past financial standing, innovative products and services, response to adversity, evidence of contributions to aid community projects and overall management philosophy.