Recovery Act:

Making ARRA Work for You

The Recovery Act?

A plan to grow our economy by:

• Jump-starting job creation• Restarting lending• Investing in small businesses

Expanded Microloans

• Extra funding for SBA-backed microlenders

• Loans from $500 to $35,000 • Technical assistance aka training

provided for every borrower• May apply immediately at 1 of 4 local

microlenders

Surety Bond Expansion

• Raises maximum contract amount covered by SBA surety bond guarantee from $2 million to $5 million

• Expands up to $10 million under certain contracts

• Helps small businesses compete for contracts

504 Loan can incorporate some previous debt

• Refinance existing long-term project in conjunction with expansion/new purchase of fixed asset

• Loan eligible for refinance must have originally financed long-term fixed asset (i.e. real estate)

SBIC Program Expansion• Helps SBICs leverage capital to invest in

small businesses• Maximum SBA funding levels are lesser

of up to 3x the private capital raised or $150 million

• SBIC can now invest 10% of total capital in a single small business

• Requires licensee dollar investment of 25% in “smaller” businesses

Who can help small businesses?

SCORESBDC’sWomen’s Business CentersCDC’s for 504 loansLenders for 7(a) and other loanswww.sba.gov/services/training for free

online courses, tools, forms, etc.

Business Development

Assists businesses in competing for contracts 8(a) certification

https://sba8a.symplicity.com/applicants/guide• SDB (self-certifying)

HUBZone certification Service Disabled & Veteran Owned Small

Business (SDVOSB & VOSB) program Women-owned Small Businesses (WOSB)

Business Development

Central Contractor Registration (CCR) www.ccr.gov

Online Representations & Certifications Application (ORCA) https://orca.bpn.gov/

SUB-Net http://www.sba.gov/localresources/district/dc/opportunities/index.html

How to Apply for 8(a) Certification

1.Consider attending workshop at SCORE/SBDC

2.Complete on-line application at www.sba.gov

3.Submit all required documentation to Philadelphia

4.Patiently wait 90 days

5.Check status online if no answer

6.Receive acceptance letter if approved

After 8(a) Certification Approval

1.Attend orientation session at local office

2.Meet with Business Development Specialista. Bring participation agreement (signed)

b. Review your business plan

3.Market to agencies

4.Submit annual review (IMPORTANT)

5.Consider Mentor/Protégé and Joint Venture

Washington Metro Area

District Office

Serves

District of Columbia, Prince George’s County, Montgomery County, Arlington

County, City of Alexandria, Fairfax County, and Loudoun County

Washington Metro Area District Office

- Assists over 1,600 8(a) firms: the most in the country!

- Has helped guarantee 249 loans worth over $79 million in the last 5 months

- Recovery contract $ spend since Jan 2010: $25,913,460 (zip codes 22060, 22306, 22307, 22309, 22310, 22315)

District Director

Bridget Bean

202-272-0340

Deputy District Director

Theodore Holloman

202-272-0341

Lender Relations

Bob Carpenter

202-272-0355

Melissa Fischer

202-272-0347

8(a) Contracting

Loretta Taylor

202-272-0368

Dave Wiggs

202-272-0353

740 15th Street NW

Suite 300

Washington, DC 20005

202-272-0300