Economic cell doors opening for many Blacks…

A case could unquestionably be made if the Small Business Administration (SBA) were not so- let me use the right word here- selective in its practice, more American citizens would be dealing with the deficit on a first-hand basics. As a matter of fact, the deficit just may not have grown to be as big as it has ie., less dependence on borrowing. In my opinion, the positives of such an occurrence far outweighs the realities of it not being so.

The SBA is being *sued and there is not much more I can say other than the successful outcome of the law suit would lessen barriers preventing America from becoming the great country many have envisioned.

This suit is a big deal for me due to the fact its success will help children and grand-children of Blacks not only to compete in lucrative job markets but also give them pride in helping pay down the national debt. To be sure and within structures of the oligarchy, there is worry regarding “hat-in hand” from Blacks. Worry no more! Help is on the way. The man sang the song, “….you don’t have to give me nothin’! Just open the door, I’ll get it myself”.

SBA
The mission of the Small Business Administration is "to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses and by assisting in the economic recovery of communities after disasters."
The SBA does not make loans directly to small businesses but does help to educate and prepare the business owner to apply for a loan through a financial institution or bank. The SBA then acts as a guarantor on the bank loan. In some circumstances it also helps to procure loans to victims of natural disasters, works to get government procurement contracts for small businesses, and assists businesses with management, technical and training issues.
The SBA has directly or indirectly helped nearly 20 million businesses and in 2008 had a loan portfolio of roughly 219,000 loans worth more than $84 billion making it the largest single financial backer of businesses in the United States.[3]
Read more at:
http://en.wikipedia.org/wiki/Small_Business_Administration

Details regarding the suit..
* U.S. Small Business Administration
Posted by Robin Caldwell in The District
Excerpt:
On March 29, 2010, Federal District Court Judge Kessler, ruled against the SBA’s attempt to dismiss Diamond’s landmark lawsuit against the SBA, setting the stage for the agency to stand trial for discriminatory practices in its Small Business Investment Company (SBIC) program. The Judge found credible testimony and reports that the program had:


1. only .86% (two persons) of  the 350 licensed managers in the program who were African-American  managers;


2. that SBA’s own statistics show black owned firms received just  2.55% of SBA approved financing;


3. that .49% of all SBA dollars were to black owned firms illustrating that SBA’s policies for decades have had  a disparate discriminatory impact on blacks and minorities.

And
Kauffman Foundations that while African-Americans are 50% more likely to start a business than whites they still face a higher level of difficulty trying to maintain funding, often resorting to more expensive ways of financing businesses (mortgage refinances, credit card debt, etc.) despite having smaller personal financial wealth.  You can see how the odds can be against African-American entrepreneurs at the onset.  If anything comes from this discussion it should be that at a minimum education initiatives are needed in our communities about alternative financing options outside of traditional business loans. 

And
It’s long over due that the SBA comply to an Open Government, just as many agencies have already transformed into since Obama’s inauguration into the White House.
Read more at:
http://politic365.com/2010/04/02/firm-alleges-sba-guilty-of-discrimination/

Fighting for the dignity of my Ancestors,
God bless Bill Gates, WPFW, C-SPAN and the spirits of the unborn for the help,
BB