Ten Minority Small Businesses Compete to be Named MED Week 2009 National Minority Small Business of the Year
Release Date: July 31, 2009 Contact: Tiffani Clements (202) 401‑0035
Release Number: 09-51 Internet Address: http://www.sba.gov/news
SBA Hosts Government Contracting & Strategic Alliance Workshops at MED Week
WASHINGTON – One of 10 minority small businesses from across the nation will be named the National Minority Small Business Person of the Year by the U.S. Small Business Administration during the 27th National Minority Enterprise Development (MED) Week conference in Washington, D.C. on Aug. 26-28.
This year’s MED Week event, “Energizing the American Economy with Minority Business Enterprises,” will focus on helping minority small businesses navigate the current economic climate and tap into the financial resources and contracting opportunities that are available as a result of the President’s American Recovery and Reinvestment Act.
The conference will feature two workshops hosted by SBA: “Win Government Contracts for Your Small Business,” conducted by authors John DiGiacomo and James Kleckner on Aug. 26 and “Strategic Alliances for Winning Business,” to educate small businesses on how to develop strategic alliances and successful mentor-protégé relationships with graduates of SBA’s 8(a) Business Development program on Aug. 27. Small businesses must register to attend these workshops at http://www.medweek.gov/. Registration is free. MED Week 2009 will be held at the Omni Shoreham Hotel, and is co-hosted by the Minority Business Development Agency of the U.S. Department of Commerce and the SBA.
“This year’s MED Week event celebrates the people who are making significant contributions to their communities by creating jobs with their innovative products and services and stimulating the nation’s economy,” said SBA Administrator Karen G. Mills. “The SBA is working diligently to ensure the small business community’s access to capital and contracting opportunities during these difficult times. In fact, with the passage of the American Recovery and Reinvestment Act of 2009, 20 percent of Recovery Act loans have gone to minority-owned businesses and 12.4 percent of Recovery Act contracts have gone to minority-owned firms.”
The national winner is selected from among 10 regional winners this year representing Massachusetts, New York, Virginia, South Carolina, Minnesota, Texas, Missouri, Colorado, California, and Idaho. The regional award winners have businesses that offer services ranging from construction and health care to environmental remediation and staffing.
Held annually since 1983, MED Week recognizes minority businesses’ contributions to the nation’s economy.
Besides announcing the national minority small business award winner, SBA will present other awards including the SBA Administrator’s Leadership award and the 8(a) Graduate Firm of the Year award.
(more)
Other features of the conference include:
· White House Reception for award winners (Invitation Only);
· MED Week Welcome Reception;
· Meet Your White House breakfast with keynote address by senior White House official;
· Business-to-Business Linkage Forum where small businesses are paired with government agencies and private sector companies to discuss potential contracting opportunities (pre-registration required and invitation only from 2:00-5:00 p.m. on Aug.28);
· MED Week Business Expo and Trade Show to provide opportunities to network from 9:15am-5:00p.m. on Aug. 28 and;
· Award ceremonies to honor minority entrepreneurs, minority business advocates and leaders in the corporate community, including a closing MED Week awards gala.
The 10 Regional Minority Small Business Persons of the Year are:
REGION I
Janice P. Guy, CEO
P3I, Incorporated
Hopkinton, MA
REGION II
Lenny Johnson, President
L&D Johnson Plumbing & Heating Inc.
Buffalo, NY
REGION III
Gloria LaVern Jackson, President & CEO
Joint Logistics Managers, Inc.
Prince George, VA
REGION IV
Cyrus D. Sinor, President & CEO
& Lawrence Kai-Yun Yeh
International Public Works, LLC
North Charleston, SC
REGION V
Akhtar Chaudhri, President
Virtelligence, Inc.
Eden Praire, MN
REGION VI
Mary Ellen Trevino, CEO
P3S Corporation
San Antonio, TX
REGION VII
Samuel P. Mudumala, P.E., CEO
Prudent Technologies, Inc.
Kansas City, MO
REGION VIII
Jerome Gonzales, President
JG Management
Grand Junction, CO
REGION IX
Gita Murthy, Ph.D., President
RORE, Inc.
San Diego, CA
REGION X
Randy Smith, President
NORTHCON, Inc.
Coeur D’ Alene, ID
For more details on this year’s MED Week conference, please visit http://www.medweek.gov/ or www.sba.gov/medweek2009/index.html.
# # #
Friday, July 31, 2009
SUMMARY - The Surety Bond Guarantee program under the Recovery Act allowed the SBA to increase the maximum size for bonds from $2 million to $5 million. The SBA can provide surety bond guarantees on federal contracts valued at up to $10 million when the contracting officer certifies that the guarantee is in the best interests of the government.
Release Date: July 23, 2009 Contact: Dennis Byrne (202) 205-6567
Release Number: 09-48 Internet Address: http://www.sba.gov/news
SBA Offers $10 Million Surety Bond Guarantee
Aids Recovery in Construction and Service Sectors
WASHINGTON – Building on Recovery Act provisions implemented earlier this year, the U.S. Small Business Administration announced today it can now provide surety bond guarantees on federal contracts valued at up to $10 million, if the contracting officer certifies that the guarantee is in the best interests of the government. An Interim Final Rule is available for public inspection at The Federal Register.
Currently, under a related provision of the Recovery Act that was implemented in March, SBA can provide bond guarantees up to $5 million through September 2010 on all public and private contracts and subcontracts. SBA partners with the surety industry to help small businesses that would otherwise be unable to obtain bonding in the traditional commercial marketplace. Under the partnership, SBA provides a guarantee to the participating surety company of between 70 and 90 percent of the bond amount.
“Raising the surety bond limit is a critical step in making sure small businesses in the construction and service sector have access to federal contracting opportunities that will help drive economic recovery,” SBA Administrator Karen Mills said. “These changes support small and emerging businesses nationwide, particularly construction contractors who have seen their markets hurt by a poor economy and lagging construction.”
Additional program enhancements published in the rule include:
· a new small business size standard for this program;
· authorization for SBA to exercise discretion in deciding bond liability issues; and,
· a definition of “Order” issued under an Indefinite Delivery Contract.
The new size standard (which will be in effect until Sept. 30, 2010) temporarily replaces the current size standard for the surety bond guarantee program. It states that a business is small if the business, combined with its affiliates, does not exceed the size standard designated for the primary industry of the business combined with its affiliates. The North American Industry Classification System (NAICS) Codes contained in 13 CFR Part 121 establishes size standards for all industries http://www.sba.gov/contractingopportunities/owners/basics/GC_SMALL_BUSINESS.html.
Through its Bond Guarantee program, SBA will also help by guaranteeing bid, payment and performance bonds to protect the project owner against financial loss if a contractor defaults or fails to perform.
Finally, the rule adds a definition for an “Order” issued under an Indefinite Delivery Contract to clarify that SBA bond guarantees apply to individual orders, as well as contracts.
SBA assistance in locating a participating surety company or agent, and completing application forms, is available online. For more information on SBA’s Surety Bond Guarantee Program, including Surety Office contacts, go online to http://www.sba.gov/osg/ , or call 1-800-U ASK SBA.
# # #
Release Date: July 23, 2009 Contact: Dennis Byrne (202) 205-6567
Release Number: 09-48 Internet Address: http://www.sba.gov/news
SBA Offers $10 Million Surety Bond Guarantee
Aids Recovery in Construction and Service Sectors
WASHINGTON – Building on Recovery Act provisions implemented earlier this year, the U.S. Small Business Administration announced today it can now provide surety bond guarantees on federal contracts valued at up to $10 million, if the contracting officer certifies that the guarantee is in the best interests of the government. An Interim Final Rule is available for public inspection at The Federal Register.
Currently, under a related provision of the Recovery Act that was implemented in March, SBA can provide bond guarantees up to $5 million through September 2010 on all public and private contracts and subcontracts. SBA partners with the surety industry to help small businesses that would otherwise be unable to obtain bonding in the traditional commercial marketplace. Under the partnership, SBA provides a guarantee to the participating surety company of between 70 and 90 percent of the bond amount.
“Raising the surety bond limit is a critical step in making sure small businesses in the construction and service sector have access to federal contracting opportunities that will help drive economic recovery,” SBA Administrator Karen Mills said. “These changes support small and emerging businesses nationwide, particularly construction contractors who have seen their markets hurt by a poor economy and lagging construction.”
Additional program enhancements published in the rule include:
· a new small business size standard for this program;
· authorization for SBA to exercise discretion in deciding bond liability issues; and,
· a definition of “Order” issued under an Indefinite Delivery Contract.
The new size standard (which will be in effect until Sept. 30, 2010) temporarily replaces the current size standard for the surety bond guarantee program. It states that a business is small if the business, combined with its affiliates, does not exceed the size standard designated for the primary industry of the business combined with its affiliates. The North American Industry Classification System (NAICS) Codes contained in 13 CFR Part 121 establishes size standards for all industries http://www.sba.gov/contractingopportunities/owners/basics/GC_SMALL_BUSINESS.html.
Through its Bond Guarantee program, SBA will also help by guaranteeing bid, payment and performance bonds to protect the project owner against financial loss if a contractor defaults or fails to perform.
Finally, the rule adds a definition for an “Order” issued under an Indefinite Delivery Contract to clarify that SBA bond guarantees apply to individual orders, as well as contracts.
SBA assistance in locating a participating surety company or agent, and completing application forms, is available online. For more information on SBA’s Surety Bond Guarantee Program, including Surety Office contacts, go online to http://www.sba.gov/osg/ , or call 1-800-U ASK SBA.
# # #
News From theCommittee on Small Business
Nydia M. Velázquez, Chairwoman
CONTACT: Alex Haurek; Duncan Neasham July 16, 2009 202-226-3636
House Passes Funding Boost for Small Business Administration
After years of Bush-era budget cuts, lawmakers begin rebuilding agency
WASHINGTON, D.C. —The U.S. House of Representatives today passed H.R. 3170, the “Financial Services and General Government Appropriations Act,” legislation which contains funding for the Small Business Administration (SBA) for Fiscal Year (FY) 2010. Rep. Nydia M. Velázquez (D-NY), the Chairwoman of the House Committee on Small Business, said the bill will increase funding for the SBA’s core missions of facilitating small business lending and providing counseling and technical assistance to small firms.
“After eight years of neglect and budget cuts, we need a revitalized SBA with the resources to foster small business growth,” Velázquez said. “This legislation is a step in the right direction to put the agency back on track and provide entrepreneurs resources they need to create jobs and lead our nation out of this downturn.”
The bill provides a total of $848 million for the SBA, $236 million more than was enacted for Fiscal year 2009. With Americans everywhere struggling to respond to the recession, Velázquez highlighted provisions in the bill that would provide $3 million in microloan subsidies to support $25 million worth of microlending. Microloans traditionally assist low income individuals looking to start their own businesses or unemployed Americans that turn to entrepreneurship as a new source of income.
“Microloans have a proven record of providing a pathway out of poverty for many Americans,” said Velázquez. “By adequately funding the SBA’s microloan program, this legislation will further spur entrepreneurship.”
Velázquez also praised the bill for expanding technical counseling and assistance programs that help prospective entrepreneurs and established businessmen and businesswomen. The legislation provides $110 million for Small Business Development Centers (SBDCs). The SBA’s nationwide network of SBDCs offers assistance to individuals and small businesses by providing a wide variety of information and guidance in central and easily accessible branch locations. The funding provided in the bill is $13 million above what was requested in the President’s budget this year and exceeds the previous Administration’s budget request by over 26%.
“When the economy is in a slump, more Americans turn to entrepreneurship as a way of supporting themselves,” Velázquez noted. “By increasing funding for entrepreneurial development services at SBA, we can provide prospective small business owners with knowledge and guidance that will help them launch new enterprises and create new jobs.”
If enacted, the FY 2010 funding in H.R. 3170, combined with funding for the SBA in the American Recovery and Reinvestment Act, would come close to returning the agency to its funding levels before 2000. The House passed the legislation by a vote of 219 to 208. The measure must now be considered in the Senate before it is sent to the President to be signed into law.
# # #
Nydia M. Velázquez, Chairwoman
CONTACT: Alex Haurek; Duncan Neasham July 16, 2009 202-226-3636
House Passes Funding Boost for Small Business Administration
After years of Bush-era budget cuts, lawmakers begin rebuilding agency
WASHINGTON, D.C. —The U.S. House of Representatives today passed H.R. 3170, the “Financial Services and General Government Appropriations Act,” legislation which contains funding for the Small Business Administration (SBA) for Fiscal Year (FY) 2010. Rep. Nydia M. Velázquez (D-NY), the Chairwoman of the House Committee on Small Business, said the bill will increase funding for the SBA’s core missions of facilitating small business lending and providing counseling and technical assistance to small firms.
“After eight years of neglect and budget cuts, we need a revitalized SBA with the resources to foster small business growth,” Velázquez said. “This legislation is a step in the right direction to put the agency back on track and provide entrepreneurs resources they need to create jobs and lead our nation out of this downturn.”
The bill provides a total of $848 million for the SBA, $236 million more than was enacted for Fiscal year 2009. With Americans everywhere struggling to respond to the recession, Velázquez highlighted provisions in the bill that would provide $3 million in microloan subsidies to support $25 million worth of microlending. Microloans traditionally assist low income individuals looking to start their own businesses or unemployed Americans that turn to entrepreneurship as a new source of income.
“Microloans have a proven record of providing a pathway out of poverty for many Americans,” said Velázquez. “By adequately funding the SBA’s microloan program, this legislation will further spur entrepreneurship.”
Velázquez also praised the bill for expanding technical counseling and assistance programs that help prospective entrepreneurs and established businessmen and businesswomen. The legislation provides $110 million for Small Business Development Centers (SBDCs). The SBA’s nationwide network of SBDCs offers assistance to individuals and small businesses by providing a wide variety of information and guidance in central and easily accessible branch locations. The funding provided in the bill is $13 million above what was requested in the President’s budget this year and exceeds the previous Administration’s budget request by over 26%.
“When the economy is in a slump, more Americans turn to entrepreneurship as a way of supporting themselves,” Velázquez noted. “By increasing funding for entrepreneurial development services at SBA, we can provide prospective small business owners with knowledge and guidance that will help them launch new enterprises and create new jobs.”
If enacted, the FY 2010 funding in H.R. 3170, combined with funding for the SBA in the American Recovery and Reinvestment Act, would come close to returning the agency to its funding levels before 2000. The House passed the legislation by a vote of 219 to 208. The measure must now be considered in the Senate before it is sent to the President to be signed into law.
# # #
Subscribe to:
Posts (Atom)