February 2007

Bush proposes SBA budget reform

President Bush announced a proposed FY 2008 budget for the U.S. Small Business Administration that increases financing capacity by 40 percent over business lending in FY 2006, reduces fees on loans, and provides increased funding and staff for SBA’s ongoing operational reforms.

The proposal sets overall spending for the year at $814 million, including $464 million in new budget authority, $329 million in carryover funds for disaster loans, and $21 million in reimbursable revenues.

This represents a 5 percent increase over the total FY 2006 appropriations (excluding disaster and Congressional initiatives) and a 12 percent increase in core operating budget.

Source: Small Business Administration, www.sba.gov

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