January 7, 2010
Stimulus funds slowed by small state office
By Capitol Weekly Staff

A small state office with the responsibility of reviewing federally funded construction projects has a two-month backlog that is slowing California’s flow of stimulus dollars, according to the state’s money tracker.

California is due for about $85 billion in federal stimulus funds, which includes some $50 billion in spending and $35 billion in tax relief.

December 27, 2009
Joel Ayala: Making Success a Business and Helping Businesses Succeed
By Corina Munoz Miller, Latino Leaders Magazine

The American business scene is exciting for Latino entrepreneurs and for Joel Ayala.  While Latino businesses are on the rise, Ayala, President and CEO of the California Hispanic Chambers of Commerce (CHCC), can’t help but feel a sense of anticipation, particularly as America works its way out of a recession.

“Latino businesses will have the greatest impact on the economy because they will be critical to the recovery,” Click Here for Full Article

December 22, 2009
Small-Business Bankruptcies Rise 81% in California
With credit tight and consumers still pinching their pennies, many business owners find they can't go on.
By Nathan Olivarez-Giles, LA Times

The Obama administration's new plan to give a boost to small businesses reflects continued trouble in that sector, which is facing new failures even as much of the nation's economy is stabilizing.

As credit lines have shrunk and consumers have cut back on spending, thousands of small businesses have closed their doors over the last year. The plight of struggling firms has been aggravated by the reluctance of banks to lend money, said Brian Headd, an economist at the Small Business Administration's office of advocacy.

December 21, 2009
Project Homeowner a Big Success in California
Published in Dec. 2009 Chase Community Development Newsletter

As part of its many efforts to reach distressed homeowners and restore consumer confidence, Chase coordinates with nonprofit partners, local government agencies, Realtors, trade associations, etc. to participate in large-scale foreclosure prevention outreach events in many markets.

Beginning in February of this year, for example, Chase partnered with California’s Department of Real Estate (DRE) & the California Hispanic Chamber of Commerce on “Project Homeowner”, a 5-city statewide grassroots

December 18, 2009
House, With a Surprise Objection, Extends S.B.A. Stimulus Provisions
By Robb Mandelbaum - NY Times

Last Wednesday night, by a wide margin, the House of Representatives passed a $626 billion military spending bill. And tucked deep within that legislation — on page 149 of a 161-page document — is $125 million to resurrect the Recovery Act provisions that bolstered Small Business Administration lending.

December 14, 2009
Bank of America pledges $5 billion more for small businesses
As President Obama demands banks do more for small companies, Bank of America says it will reverse some of its lending decline.
NEW YORK  -- Bank of America pledged Monday to increase its lending to small and medium sized businesses by $5 billion next year. The announcement immediately followed a White House meeting at which President Obama pressured the nation's biggest bailed-out banks to start reinvesting in the rest of the economy.