Recovery.gov - Track the Money

Small businesses are the heart of the American economy, employing half of our country’s workers and creating most new private sector jobs every year. The Administration is taking significant steps to help small business owners and entrepreneurs recover, start, build and grow.

The Recovery Act contains tax breaks, market enhancements, and strong lending programs, which help foster job creation, re-start lending, and invest in the American Dream. The U.S. Small Business Administration will work closely with small businesses, entrepreneurs and other partners to help drive our nation’s economic recovery.

SBA Recovery Goals for Small Businesses
In order to address the challenges facing small businesses in this economy, the SBA is working to:

1. Restore Access to Capital for Small Businesses by unsticking the secondary market and increasing lending across SBA guaranteed loan programs.

2. Address Immediate Problems by expanding access to microloans and helping viable businesses bridge difficult periods through America’s Recovery Capital (ARC) stabilization loans.

3. Maximize Small Business Recovery Opportunities through expanded surety bond guarantees and contracting opportunities for small businesses.

SBA staff are driving these goals, with a renewed focus on customer service, efficiency, transparency, accountability and measurable results.

The Agency will continue to compete contract actions to the maximum extent practicable. Historically and to date, SBA has competed approximately 63% of the dollars available for competition. Remaining in concert with the statistical trend, SBA will most likely compete 60% of the ARRA dollars available for competition. The rationale for intended dollars competed is based on the data available in FPDS-NG and planned contract activities focused on Recovery Act procurement actions.

Consistent with the Agency’s prior years’ statistical data, SBA will continue to use Fixed Price contracts as the preferred type of contract for procuring goods and services.

Management team members across the SBA are managing collaborative, transparent and results-driven teams. The SBA’s Recovery Act Steering Committee ensures that efforts to help small businesses are integrated across the agency’s programs and administrative support functions. Implementation teams have been organized for each SBA Recovery Act program. Led by a senior manager, these teams report directly to the Steering Committee and the SBA Administrator. The Agency also formed teams specifically targeted at the Recovery Act’s technology improvement projects to ensure that these projects enhance the SBA’s effectiveness and efficiency in serving small businesses and lenders.

Recovery Act Project Management Framework
As the Recovery Act was developed and enacted, Agency leadership worked to identify appropriate Team Leaders to implement each SBA program. When projects were finalized, these leaders formed teams that included necessary staff with skills needed to implement policy decisions and develop necessary materials. These teams include members from SBA’s performance management, field, legal, procurement, information technology and risk management offices.

Each Recovery Act team prepared plans, budgets, and a list of key decisions needed to move forward. The SBA Recovery Act Steering Committee reviews project and milestone status reports to ensure that program offices are accountable for meeting project goals.

Most of SBA’s Recovery Act programs are effective through September 30th, 2010, or until funds are expended. SBA staff are monitoring use of Recovery Act funds to ensure that programs and projects are prepared to close responsibly and efficiently at the appropriate time.

Managing Outcomes and Performance
The Agency will assess Recovery Act project performance at both the program and agency-wide levels. Senior leaders will monitor financial, operational and risk metrics to help the Agency articulate progress, manage funding, and further refine programs and policies.

SBA’s Performance Management Office creates a weekly Performance Management Dashboard and a monthly Performance Overview to summarize progress and performance in each area. SBA’s Recovery Act Steering Committee receives these reports and uses them to identify performance issues. Some of the information contained on the Dashboard and in the Performance Overview Report will be shared with the public on the Agency’s Recovery website.

These reporting tools enable the Agency to identify issues and improve programs and policies to ensure that SBA’s Recovery Act funding will help small businesses succeed. More information on program-specific metrics is included in each SBA Recovery Act Program Plan, which will be posted on the Agency’s Recovery website.

Managing Risk
SBA’s Office of Risk Management is leading a process to help the Agency develop a comprehensive risk management plan to ensure that significant risks to the Agency that might arise through Recovery Act projects are systematically and effectively identified, evaluated, and mitigated. SBA’s Recovery Act Risk Management framework helps identify and monitor program and project risks while leveraging strategies that drive continued improvement of quality oversight and control processes.