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What's New: Government Affairs

Increased Limits on SBA Bond Guarantees in Senate Emergency Appropriations Bill Draft

Thursday, December 13, 2012  

The increase in the Small Business Administration’s (SBA) from $2 million to $5 million has made it into the Senate Appropriations Committee draft of a supplemental appropriations bill to provide aid to victims of Super Storm Sandy. It is a permanent increase to the SBA’s bond guarantee rather than one limited to Sandy-specific states or construction projects. It could be discussed on the Senate floor as early as tomorrow.

Another positive development is that the Office of Management and Budget (OMB) has reported that this provision has no fiscal impact because the SBA Bond Guarantee Program has sufficient balances to backstop any impact from this increase.

SFAA is working with Senator Cardin’s (D-MD) office on this issue. As requested, SFAA is preparing a letter of support that the NASBP and the national contractors’ associations can be added as signatories. We also are working with the SBA Bond Guarantee Program staff to obtain any available information on how the $5 million bond guarantee worked when it was effective under the economic stimulus package in 2009-2010.


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