Obama Delivers More Support to Small Businesses

Elizabeth Echols

By Conway Jones

Federal Small Business Administration-backed lending is rising to record levels in Northern California, according to SBA Regional Administrator Elizabeth Echols.
Echols, who met recently with the Post, talked about what President Obama is doing to help businesses to grow or get off the ground. “Under his watch, we have had two record years, $60 billion in loans going to small businesses,” she said.
“Our goal is to put 23 percent of federal contracts in the hands of small businesses, worth approximately $100 billion a year,” said Echols.  “We have seen an increase in government contracts to small businesses over the previous administration.”
Under a “quick-pay policy,” federal agencies are working to pay their small-business prime contractors in 15 days, instead of 30 days. In addition, the agencies are urging prime contractors to pass along that sped-up payment cycle, she said.
Pledging to expand support for small business owners, Echols told the Post the SBA’s Northern California region will begin holding more workshops, training and information sessions in Oakland.
See page 3 for SBA news.