The Small Business Administration has received approval from lawmakers to revamp many of its programs.



According to a story running on WebCPA.com, the Senate Small Business Committee gave its blessing to a three-year re-authorization of programs to hone the agency’s disaster loan efforts and minority small business development.



The approval comes on the heels of heavy criticism as a result of delays in its disaster loan programs following Hurricanes Katrina and Wilma.



Under the revamp, the SBA would to create a new “bridge loan” program providing states federal guarantees on loans provided to assist with disaster relief. Those businesses affected by significant increases in energy costs would be provided up to $1.5 million in loans.


Next Article: MasterCard Reports a Loss for Q2 on ...

Advertisement