New SBA legislation is
‘big deal’
One important point Region VIII Small Business Administration Regional Administrator Daniel Hannaher takes from the new Small Business Job Acts is a temporary program which allows businesses to use 504 lending program to refinance commercial real estate. e have people with balloon payments coming up, the value on their property has dropped and the banks therefore won’t be as welcoming to refinancing,” Hannaher says. “By the government providing a 75 percent guarantee on a loan will make it much more attractive to the lender to help those businesses refinance their property.” Hannaher recently attended an SBA-sponsored procurement conference in Jamestown, ND. The conference provided an opportunity for small businesses to meet with government agencies for training, as well as explaining products and services with the hope of contracts down the road. In an interview in Fargo, ND, Hannaher talked about the latest legislation, which he terms as a ‘big deal’ for the SBA. “This legislation was the largest legislative action in over a decade,” he says. “There are a multi-faceted number of issues that benefit small businesses.” Under the leadership of the new administration the SBA is aggressively focused on capital access, counseling, and government contracting. A major effort is being made to reach the goal of 23 percent of government contracting going to small businesses. “That is going to be achieved and surpassed,” Hannaher states. “This means more jobs, more stability, and more economic growth in the small business
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community. I think in everyone’s eyes the only way this country is going to get out of the economic strife that we have been confronted with. It is small business that creates new jobs. It is small business that leads innovation, competitiveness.” An important part of Hannaher’s job is being the eyes and ears, and at times the voice of the Administration regionally. Region VIII consists of North Dakota, South Dakota, Colorado, Montana, Utah, and Wyoming. “If we can gather good ideas from small businesses out here and bring those good ideas back to Washington, we can formulate better policies for the nation,” Hannaher explains. “I am also the voice expressing the goals of the administration and how we would like to see the country move forward.” The most challenging aspect is finding opportunities for small businesses that are on the cusp of success or failure, Hannaher adds. “Trying to fix those everyday small problems can be a grind,” he states. One thing Hannaher would like to tell the business community is not to be afraid of talking with the SBA. “We have so many creative options,” he says. Alan Van Ormer - avanormer@prairiebizmag.com PB
prairiebizmag.com
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