SBA Recovery Loans:

• The law will extend SBA Recovery loans (with the 90% guarantee and reduced fees) through December 31, 2010.
• The law will permanently increase 7(a) and 504 limits from $2 million to $5 million (for manufacturers in 504 loan program, up to $5.5 million).
• The law will permanently increase microloan limits from $35,000 to $50,000, helping larger entrepreneurs with start-up costs and small business owners in underserved communities.
• The law will increase maximum amount of SBA Express loans from $350,000 to $1 million (expires 9/27/2011).
• The law will allow some small businesses to refinance their owner-occupied commercial real estate mortgages into the 504 loan program (expires 9/27/2012).
• The law provides for funding up to $20 million per year in small business loans over the next three years for an intermediary-facilitated loan program targeting small businesses that need loans up to $200,000.

Exporting:

• The law turns the Export Express pilot loan program into a permanent program with 90% guarantees for loans up to $350,000 and 75% for loans between $350,000 and $500,000.
• The law provides $90 million in competitive grants over next three years for states to help small business owners with exporting.

Federal Contracting:

• The law gives agency procurement officers more ability to provide both large prime contracts and mircocontracts to small businesses. The law makes it harder for agencies to “bundle” contracts, a practice that often takes opportunities away from small business. The law also has stronger enforcement so agencies will be held more accountable for reaching small business goals.
• The law enforces stronger subcontracting plan requirements for large prime contractors to ensure small businesses are utilized in subcontracting. It also discourages late payments to small subcontractors.

Extension, Expansion of Tax Cuts

For more detailed information, please click on this link:� http://www.sba.gov/jobsact/

[xeno-ter-uh ik-span-shuh -?tis]

n. The pain and inflammation associated with global business dynamics or expansion.

Need to go global, but not sure how to get there? Let the SBDC be your guide. We’ll steer you through these classes and put you on the right path toward international growth and expansion.

Prescription for Success

• Going Global: International Trade Basics
• International Trade Certificate Program
• Florida Export Series