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SBA Testifies Before Small Business Cmte on Oversight and Access to Capital

Monday, October 31, 2011  
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Karen Mills, Administrator for the U.S. Small Business Administration, recently testified before the House Small Business Committee on the topic of access to capital for small businesses. Highlights from the hearing entitled, "Oversight of the Small Business Administration’s Financing Programs” included:

· The SBA supported over $30 billion in lending to 60,000 small businesses last year.

· The SBA had an all-time record year in our Small Business Investment Company program, with nearly $2.6 billion in financings.

· The SBA secured $20 billion in additional small business lending commitments from 13 of the largest U.S. banks over the next three years.

· Credit Risk Management and going after fraud, waste and abuse were made priorities.

To read the entire testimony from Administrator Mills, including charts and graphs on SBA funding and financing, click here.

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