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·                   Money from the Government & Year-End Tax Savings

·                   Where We Are Today: The Status of SBA's Stimulus Programs

·                   Enjoy a Greener Holiday Season

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Directors Message

By Mark Engle, Director

It's hard to believe another year has already flown by! The last year has been very challenging for the Nation and Arizona in particular, but with any new year there is a fresh hope for better times and new prosperity. And small businesses will be called on to help provide much of the economic progress needed by our economy.

Please remember your Small Business Development Center is there to help your small business. Best wishes for a happy holiday season and a prosperous new year!

Money from the Government & Year-End Tax Savings

by Rhonda Abrams

It's not too late to save money on your taxes - or even get money back from the government! Yes, you may be entitled to a refund from the government if you've lost money in your small business this year and were profitable in previous years. As part of the stimulus package, small businesses can "carry back" their losses in 2009 up to five years instead of the normal two. What this means is your accountant can charge 2009 losses against previous gains and recover taxes you've paid. You get a check from the IRS. Woohoo!

If you're profitable, you'll want to take steps now - before December 31 - to reduce the tax bite in April. Make sure you've paid all your 2009 bills. Update your equipment, purchase supplies, accelerate certain expenses (January rent, tax bills). Pay any sponsorships or memberships for the coming year.

Best of all, INCREASE your retirement savings - that's paying yourself. And don't forget to make charitable donations.

Download More Year-End Savings Ideas Here

Where We Are Today: The Status of SBA's Stimulus Programs

From Coleman SBA Lender Daily and SBA

Additional Funding for SBA Recovery Lending Programs Will Support $4.5 Billion in Small Business Lending Agency plans to restart Recovery loan approvals by Dec. 28

WASHINGTON -- President Obama signed the U.S. Department of Defense (DOD) appropriations bill on Saturday, which included $125 million to continue through Feb. 28, 2010, the enhancements made possible through the American Recovery and Reinvestment Act (ARRA) to SBA's two largest loan programs. The SBA estimates the additional funding will support $4.5 billion in small business lending. New approvals of loans with the higher guarantee and reduced fees made possible by ARRA are expected to begin by Dec. 28. Loan applications from borrowers who chose to be placed in the SBA's Recovery Loan Queue will be funded first, followed by new loan approvals beginning on or before Dec. 28.

"This Administration and Congress recognize that these key programs were successful in helping jump- start the economic recovery for America's small businesses," said SBA Administrator Karen Mills. "The increased guarantee and reduced fees on SBA loans helped put more than $16.5 billion in the hands of small business owners and brought more than 1,200 lenders back to SBA loan programs. The extension of these programs through February is important to continuing our path toward recovery and will mean thousands more small business owners have access to the credit they need.

"Just two weeks ago, President Obama laid out key aspects of his jobs plan, including significant ongoing support for small businesses. We will continue to work with Congress on moving those proposals forward, including extending these loan enhancements as the President has called for, to ensure that small business owners have the tools they need to drive economic growth and create jobs in communities all across the country."

As part of ARRA, SBA received $730 million, which included $375 million to increase the SBA guarantee on 7(a) loans to 90 percent and to waive borrower fees on most 7(a) and 504 loans. More information about the waived fees can be found here. The funds for these programs were exhausted on Nov. 23. SBA created the Recovery Loan Queue as part of its transition back to pre- ARRA lending on Nov. 23 because previously approved loans are sometimes canceled or never disbursed for a variety of reasons. Eligible small businesses, in consultation with their lender, could choose to be placed in the queue for possible approval of an ARRA loan if funding became available. Currently there are 1,069 loans totaling almost $530 million in the Recovery Loan Queue.

The extension included in the DOD bill authorizes the higher guarantee levels through Feb. 28, 2010. The fee relief is authorized until this additional funding is exhausted or the end of the fiscal year, whichever comes first. As was the case in November, SBA will transition into a queue system as the funds start to wind down in order to ensure the maximum simulative effect of the programs and disbursement of funds. For non-ARRA 7(a) or 504 loans funded during the transition period, this extension does not provide a retroactive guarantee or waived fees. Loans that were funded under non-ARRA terms cannot be canceled and resubmitted to take advantage of the ARRA extension provisions. This extension does not affect other SBA ARRA programs, including the America's Recovery Capital (ARC) loan program or the agency's microloans. ARRA funding still remains for both of those programs.

Enjoy a Greener Holiday Season

from Energy Star Small Business Network E-Update

Lighting is just one aspect of creating a greener holiday. The U.S. Enviromental Protection Agency (EPA) offers Consumer Tips on reducing waste for the holidays. A recent report noted that the amount of household garbage in the U.S. generally increases by 25 percent between Thanksgiving to New Year's Day, from 4 million to 5 milion tons.

If you'd like ideas from others, the EPA blog, Greenversations, has asked what a green holiday means to you, or how readers intend to save energy this season. EPA offers other ideas and links: · A video with ENERGY STAR ideas for the holidays · Making the holidays an eco-cool season · Ways to green the holidays and parties · Holiday ideas and tips from earth911 · Links to an an incredibly long list of even more sources

Link to EPA site on reducing Holiday Waste