Economic Resources for Business Owners

In light of the current economic situation, Congressman Forbes has compiled a list of information to help small business owners find loan programs and resources from the U.S. Small Business Administration (SBA), learn about financing options, or register to take free online business courses.

Access the Economic Resource Guide now.

Read more

Association Health Plans Congressman Forbes has cosponsored legislation to allow small businesses to band together and purchase quality health care for workers and families at a lower cost. More...

Tax Relief for Small Businesses Congressman Forbes supported extending critical tax provisions for small business owners. More...

Free Online Training for Entrepreneurs Take advantage of free training for your business through the Crater Planning District Commission. More...

Supported access to investment capital for small businesses. Congressman Forbes voted for H.R. 3854 to increase the size of loans available through the Small Business Administration (SBA) loan programs and reduce interest rates on loans made to small businesses under current programs. The bill is estimated to generate $44 billion in new lending for small businesses. This legislation passed by a vote of 389-32.  

Supported assistance for small businesses. Congressman Forbes voted for H.R. 3614 to allow the Small Business Administration to continue providing loans to small businesses. This bill passed the House by a vote of 417-2.

Supported small businesses affected by TARP. Congressman Forbes voted for the SIG TARP Small Business Awareness Act of 2009, H.R. 3179, which requires the inspector general of the TARP bailout program to examine how smaller financial institutions are being affected by the program. An assessment of specific actions taken under the program by the Treasury Department and regulators will also be examined.  The inspector general will report on the effects financial assistance provided under the program has had on small businesses, including both positive and negative effects and the effects by regions.   This bill passed the House by voice vote.  

Supported technological advancement in small business. Congressman Forbes supported H.R. 1807 to direct the Small Business Administration (SBA) to contract with qualified vendors to distribute throughout the United States technology related to entrepreneurship, credit management, financial literacy, and federal small business development programs.  This bill passed the House by voice vote.

Supported increased funding for small business research. Congressman Forbes voted for H.R. 2965, the Enhancing Small Business Research and Innovation Act of 2009.  This bill increases funding the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, which support the mission of the Small Business Administration. The bill increases the level of awards made under the SBIR and STTR programs from $100,000 to $250,000 for Phase I awards and from $750,000 to $2 million for Phase II awards. The final roll call vote for this legislation was 386-41 in favor of its passage. 

Hosted a government contracting seminar for women-owned and minority-owned businesses. Congressman Forbes was joined by representatives of the Small Business Association, the Crater and Hampton Roads Procurement Assistance Centers, and other speakers to provide information to businesses on how to be successful when doing business with the government.

Championed assistance for small business owners. Congressman Forbes voted for H.R. 2352, which extends entrepreneurial development programs, creates a new small business assistance program for veterans, and creates on-line resources for new small businesses. 

Supported H.R. 1541, which would extend certain expiring small-business programs through July 31, 2009.  This bill would reapprove the Small Business Innovation Research (SBIR) program and other Small Business Administration programs designed to help small high-tech businesses in federal research activities and help commercialize cutting-edge high-tech research. 

Supported S. 3029, which extends the programs under the Small Business Act and the Small Business Investment Act of 1958 through February 28, 2009.  The important programs aid, counsel, assist and protect the interests of small-business concerns, in order to preserve free competitive enterprise and to strengthen the overall economy of our nation.

Voted for  H.R. 5819, Reauthorizing the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.  This bill would reauthorize the SBIR/STTR programs, which operate under the U.S. Small Business Administration, through 2010.  Under these programs, federal agencies with a research and development budget of more than $100 million must set aside 2.5% of their research and development budget for grants to small businesses.  These grants have provided approximately $20 billion to small businesses for research, development and technology innovation since 1982.

Voted in favor of H.R. 3867, the Small Business Contracting Improvement Program, which would allow businesses owned by disabled veterans to qualify for sole-sourced government contracts. H.R. 3867 would also expand the eligibility of many minority owned businesses to qualify for the Small Business Administrations 8(a) program, which one of the important vehicles for minority business participation in federal contracting. The 8(a) program has contributed to the development of over 20,000 firms over the past two decades. There are over 9,000 firms currently participating in the 8(a) program and more than half of all federal minority business contracting is accomplished through the 8(a) program.

Voted in favor of H.R. 3567, the Small Business Investment Expansion Act. H.R. 3567 would provide additional federal capital and new incentive programs for increased investment in small businesses and allow certain small businesses that accept venture capital to qualify for Small Business Administration programs. The bill also creates a new “Angel Investment Program” to encourage investment in small start-up businesses.

Voted for H.R. 2992, Small Business Administration Trade Programs Act, which will help small businesses compete in the global marketplace. This bill would require the Small Business Administration and the Office of International Trade (OIT) to develop trade policies and recommendations that support small businesses in domestic and foreign markets. H.R. 2992 would improve access to export financing, counseling and technical assistance programs. The OIT would be tasked with assisting small businesses that are taking legal action to secure their rights to patents, copyrights, and trademarks in foreign countries.

Voted for H.R. 3020, Microloan Amendments and Modernization Act, which would raise the minimum amount available in the Microloan program from $7,500 to $10,000. Microloans are administered by the Small Business Administration and are available to small businesses (with less than five employees) run by low-income owners. Over 700,000 individuals start their own small business each year. This program was created in 1992 and has helped to produce 10,000 jobs each year in areas that need economic revitalization.

Voted in favor of H.R. 1332, the Small Business Lending Improvements Act of 2007, legislation to reduce lending fees and to increase access to capital for small businesses by modernizing Small Business Administration (SBA) lending programs. This legislation would also expand financing options for start-up businesses in rural areas and emphasize outreach to health care providers to address increasing demand for medical providers in rural and low-income areas. Additionally, it would establish a program to help veterans to start their own businesses by reducing borrower and lender fees and increasing loan guarantees.

Voted for the SBA Entrepreneurial Development Programs Act of 2007, H.R. 2359. H.R. 2359 would provide relief from the disproportionate burden placed on small businesses by federal regulations and will help small businesses secure affordable health insurance. Specifically, H.R. 2359 contained a provision that would require the Small Business Administration (SBA) to review and evaluate federal regulations, then work with agencies to address the compliance burden for small businesses. The bill also would authorize the SBA to establish a program to help small businesses more easily comply with state and federal regulations. Additionally, it would provide grants to Small Businesses Development Centers (SBDCs) to help small-business owners identify affordable health insurance for their business and employees. On June 20th, H.R. 2359 passed in the House of Representatives and will now be considered in the Senate.

Voted for the SBA Veterans' Programs Act of 2007, H.R. 2366. H.R. 2366 would reauthorize the veterans entrepreneurial development programs of the Small Business Administration. H.R. 2366 is intended to help veterans through grants, information services, and personal assistance to evaluate business opportunities and become entrepreneurs in their own right. The bill focuses on providing our veterans with the market research, financial options and technological training important to becoming successful in today's business world. In addition to increasing the number of Veteran Outreach Centers across the country, H.R. 2366 would also ensure that women veterans are made aware of opportunities in their local communities. On June 18th, H.R. 2366 passed in the House of Representatives and will now be considered in the Senate.

Voted for H.R. 2397, the SBA Women's Business Programs Act of 2007. H.R. 2397 would reauthorize the women's entrepreneurial development programs of the Small Business Administration. On June 18th, H.R. 2397 passed in the House of Representatives and will now be considered in the Senate.

Voted in favor of H.R. 1873, the Small Business Fairness in Contracting Act, legislation that would reform the process of awarding government contracts to businesses, to ensure more opportunities for small businesses, to raise the federal small business government-wide contracting goal, and to fight fraud in the entire process. H.R. 1973 makes changes that would remove a number of barriers facing entrepreneurs in accessing federal contracts, creating a more level playing field for the nation's 26 million small businesses.

Voted for the Small Business Tax Relief Act of 2007, H.R. 976. This legislation would extend critical tax provisions for small business owners, extend the the work opportunity tax credit through 2008 and also aide the small businesses that would most feel the impact of a minimum wage increase.