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FEDERALhearing transcript

Senate Hearing on SBA Access to Capital Programs

Original title: REAUTHORIZATION OF THE SBA'S ACCESS TO CAPITAL PROGRAMS

January 1, 2019

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The Frame

What this does

This hearing marks the start of the legislative process to update and renew federal laws governing how the Small Business Administration provides loans and capital to small businesses, which directly impacts the availability of government-backed financing for entrepreneurs.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Small Business Owners

Small businesses seeking government-backed loans or capital are affected by changes to the programs authorized under the Small Business Act.

SBA Lenders

Financial institutions and organizations that participate in SBA lending programs are subject to the regulatory framework established by the reauthorization.

What changed

Last recorded activity January 1, 2019.

What's next

Next step not available in the current record.

Summary

The Senate Committee on Small Business and Entrepreneurship held a hearing to begin the formal process of reauthorizing the Small Business Administration's (SBA) capital access programs. This session served as the initial step in reviewing the Small Business Act and the Small Business Investment Act to evaluate current lending and investment programs.

Why It Matters

This hearing marks the start of the legislative process to update and renew federal laws governing how the Small Business Administration provides loans and capital to small businesses, which directly impacts the availability of government-backed financing for entrepreneurs.

Key Facts

  • The Senate Committee on Small Business and Entrepreneurship officially initiated the reauthorization process for the Small Business Act and the Small Business Investment Act.
  • The hearing focused on the 'Access to Capital' programs managed by the Small Business Administration (SBA).
  • The hearing took place on April 3, 2019, in the Russell Senate Office Building.
  • The committee heard testimony from two panels: one representing the SBA and one representing private sector lending and enterprise organizations.
  • The hearing record includes written testimony and responses to questions from various industry leaders and SBA officials.

Frequently Asked Questions

What is the purpose of this hearing?
The hearing is the first step in the legislative process to reauthorize and potentially update the laws that govern how the Small Business Administration provides capital and loans to small businesses.
Who testified at the hearing?
Witnesses included William Manger from the SBA, as well as executives from immito, Evergreen Business Capital, CDC Small Business Finance, and the Association for Enterprise Opportunity.

News Coverage

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Sponsors

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Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Start of Reauthorization Cycle

The hearing marks the formal commencement of the 116th Congress's effort to update the Small Business Act, indicating a shift toward legislative review of existing SBA programs.

Connected Entities

personBenjamin L. CardinRanking Member of the Senate Committee on Small Business and EntrepreneurshipMap →
personWilliam MangerAssociate Administrator, Office of Capital Access, SBAMap →
personPatricia KibbeCEO of Evergreen Business CapitalMap →
organizationSmall Business AdministrationFederal agency overseeing small business capital programsMap →
personMarco RubioChairman of the Senate Committee on Small Business and EntrepreneurshipMap →
personJulie HustonCEO of immitoMap →
personRobert VillarrealExecutive VP of CDC Small Business FinanceMap →
personConnie EvansCEO of Association for Enterprise OpportunityMap →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100
  • Significance65
    How much this matters to a regular citizen
  • Controversy10
    Intensity of disagreement among stakeholders
  • Entertainment5
    Compellingness for a non-policy-wonk reader
  • Buzz15
    Current news / social attention level

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