>> CHARLES: SMALL BUSINESSES ARE
SUCCEEDING IN RECORD NUMBERS
BUSINESS ADMINISTRATION PROVIDED
OVER 30 BILLION TO SMALL
BUSINESSES THROUGH ITS LOAN
PROGRAMS IN FISCAL YEAR 2017 AND
IT INCREASES LENDING TO WOMEN,
VETERANS AND EMERGING
COMMUNITIES.
MANY ARE ATTRIBUTING THE SUCCESS
NOW TO THE PERSON WHOSE RUNNING
THE SBA, ADMINISTRATOR LINDA
MCMAHON AND SHE JOINS US.
I AM SO HAPPY TO HAVE YOU ON THE
SHOW.
I DON'T KNOW HOW I STUMBLED
LEADERSHIP WITH RESPECT TO
MAKING A LOAN PROGRAM EASIER,
STREAMLINING IT, ACCESSIBLE,
MINORITY LENDING.
IT'S ABSOLUTELY AMAZING YOU'VE
MADE AN AMAZING IMPACT AND I'LL
GIVE YOU THE FLOOR ON THAT NOTE.
WHAT DO WE SEE IN THE FUTURE NOW
FOR THE SBA?
>> WELL I CAN TELL YOU CHARLES
FIRST OF ALL THANKS FOR HAVING
ME AND YOU KNOW WHAT WE'RE SEE
ING ALREADY IN THIS FIRST
QUARTER IN FISCAL 18, JUST IN
OCTOBER-NOVEMBER, YEAR-OVER-YEAR
WE'RE SEEING ABOUT A 13%
INCREASE AND OUR 7 A LOANS WHICH
ARE FLAGSHIP LOANS AND JUST A
WE'RE ON FIRE GOING INTO THIS
NEW YEAR, AND I THINK THAT IT'S
THE OPTIMISM IN THE MARKETPLACE.
YOU KNOW RELATIVE TO THE TAX
REFORM, TAX CUTS, REGULATORY
REFORM, ALL OF THE THINGS ARE
HAVING SUCH A POSITIVE IMPACT
MARKETPLACE.
>> CHARLES: I WANT TO ASK YOU
ABOUT ENTREPRENEURSHIP IN
GENERAL.
I FOLLOW A LOT OF THE WORK OF
THE COFFMAN INDEX AND INSTITUTE
AND IT WAS A ROCK BOTTOM JUST A
COUPLE YEARS AGO AND IT'S BARELY
TO SORT OF GO BACK INTO THE
GARAGE TO START TINKERING WITH
THEY REALLY JUST GAVE UP ON THAT
NOTION FOR A LONG TIME.
>> WELL THEY DID BUT THAT'S WHAT
I WAS TALKING ABOUT THAT FEELING
OF OPTIMISM.
YOU REALLY DO SENSE IT.
THEY FEEL THERE'S AN OPPORTUNITY
FOR THEM NOW.
IT'S WORTH TAKING THE RISK.
ENTREPRENEURS ARE ALWAYS
BALANCING THAT RISK FACTOR
AGAINST THE DOWNSIDE AND YOU
FIND MORE ENTREPRENEURS NOW THAT
ARE WILLING TO TAKE THAT RISK
AND RISK MEANS OFTEN CEASING AN
OPPORTUNITY AND THEY'RE REALIZ
ING THEY CAN'T LET THE
OPPORTUNITY PASS THEM BY SO I
THINK YOU'LL SEE MUCH MORE OF
TO YOUR POINT THOUGH IS REALIZ
ING THAT THERE IS AN
OPPORTUNITY.
I THINK THAT WAS THE COMPONENT
THAT FADED AWAY NOT NECESSARILY
THE DNA OF AMERICANS TO TAKE
INTERESTED.
THE MICROLENDING HAS GONE
THROUGH THE ROOF AND ALSO SOME
OF THESE LENDING PROGRAMS
ASSOCIATED WITH ONLINE FOLKS
LIKE THE LENDING CLUB AND THINGS
LIKE THAT COULD YOU EXPLAIN
THOSE?
>> WELL THE LENDING CLUB I'M NOT
REALLY FAMILIAR WITH BUT THE
MICROLENDING THAT SBA IS DOING
OUR MICROLOANS UNDER $50,000
LOANS, AND IT'S JUST IN CREASING
REALLY GOING THROUGH THE ROOF IN
TERMS OF GIVING THAT SORT OF
SEED CAPITAL TO THOSE SMALL
BUSINESSES TO START.
YOU KNOW, WHEN I CAME ON AT SBA,
I WAS ASKED WHAT'S MY VISION AND
I SAID MY REAL VISION AND MY
GOAL IS TO MAKE SURE SBA IS NO
LONGER THE BEST KEPT SECRET IN
THE COUNTRY.
IT'S REALLY THOUGHT ABOUT FOR
LENDING PURPOSES
GUARANTEEING LOANS NOT MAKING
LOANS DIRECT BUT ALSO THE
RESOURCE PARTNERS THAT WE HAVE
THROUGH OUR SCORE OFFICES THAT
ARE OFTEN RETIRED CEO'S FROM
BUSINESSES WHO COME AND DONATE
THEIR TIME FOR MARKETING PLANS,
FOR BUSINESS PLANS TO
ENTREPRENEURS WHO WANT TO START
CENTERS OUR VETERANS OUTREACH
ALL OF THIS GOES INTO MAKING
TO GET ACCESS TO CAPITAL, SO
WE'RE ON THE MOVE TO MAKE SURE
PEOPLE KNOW ALL OF THE ASPECTS
OF SBA.
>> CHARLES: CERTAINLY UNDER THE
MOVE AND I WANT TO CIRCLE BACK
ONE-TIME WITH THE VETERANS
BECAUSE YOU HAD AN ANNOUNCEMENT
ANY BUSINESSES SUCCESS AND THEY
>> WELL, OUR BOOTS TO BUSINESS
PROGRAM THAT WE HAVE THROUGH OUR
VETERAN'S OUTREACH IS JUST THAT.
TRANSITION FROM THE MILITARY
INTO THE BUSINESS WORLD.
WE OFFER PROGRAMS FOR THEM AND
FOR THEIR SPOUSES TO UNDERSTAND
WHAT IS NECESSARY BUT ALSO HOW
TO LOOK AT THE SKILLS THAT THEY
HAVE AND HOW THEY TRANSFER TO
BUSINESSES TODAY, NOT ONLY IF
THEY WANT TO BE EMPLOYEES BUT
ALSO IF THEY WANT TO START THEIR
OWN BUSINESSES, AND WE WAVE THE
FEES AT SBA FOR OUR VETERANS
LOANS SO WE REALLY WANT TO
ENCOURAGE OUR VETERANS TO GET
INTO THE MARKETPLACE AND TO HELP
THEM DO THAT.
>> CHARLES: LINDA MCMAHON I WAS
A FAN LONG BEFORE YOU GOT THIS
JOB AND BECAUSE OF YOUR SUCCESS
WITH THE WWE AND WHAT YOU AND
ON BE HALF OF ALL SMALL BUSINESS
OWNERS I HAPPEN TO BE ONE MYSELF
YOU'VE DONE AN AMAZING JOB AND
THIS IS WHERE IT ALL BEGINS THIS