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Legislation would bolster successful SBA loan program

first_imgRep. Peter Welch unveiled legislation Monday morning aimed at freeing up credit to small businesses by expanding a successful Small Business Administration loan program. At Burlington s Chittenden Bank, Welch and members of Vermont s business and banking communities outlined details of Welch s bill, which is intended to bolster the popular SBA Express Loan Program. By increasing the SBA Express program s current cap of $350,000 to $2 million, the legislation would significantly increase access to credit for Vermont s small businesses. Welch will introduce his bill in the House this week.Small business owners throughout Vermont have struggled since the start of the current economic crisis with securing and retaining lines of credit. At a small business roundtable in Bennington last month, business owners told Welch that the tight credit environment was the single greatest difficulty they faced in expanding their businesses. Vermont small businesses need access to credit in order to weather this economic storm and right now, they don t have that, Welch said. By expanding the highly successful SBA Express Loan Program, I believe we can give our small businesses a key tool to survive these difficult economic times.Established in 1995 to increase the effectiveness and efficiency of SBA s lending programs, SBA Express reduces the amount of required paperwork and accelerates the approval process for small businesses. Because it significantly reduces costs for lending institutions, SBA Express has thrived during the economic crisis, even as other lending programs have not. The program s current loan cap of $350,000, however, has constrained the potential of SBA Express, experts agree.Bennington Chamber of Commerce Executive Director Joanne Erenhouse and Chittenden Bank SBA Loan Officer Robin Shanahan joined Welch at Monday s event to reiterate the importance for both small businesses and lenders of expanding SBA Express. Franklin County Regional Development Corporation Executive Director Tim Smith and Rutland Economic Development Corporation Executive Director Jamie Stewart also attended the event.Source: Welch’s office.last_img read more

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Angels outfielder Kole Calhoun lands on disabled list with strained oblique

first_imgANAHEIM — Kole Calhoun is on the disabled list thanks to a strained right oblique. Might the time off help the Angels outfielder break out of his season-long hitting slump?“Maybe,” Manager Mike Scioscia said Saturday. “That’s not the way you want to get your break, though.”The Angels placed Calhoun on the 10-day disabled list, retroactive to Friday, taking the outfielder off their lineup card in the midst of the worst hitting performance of his career. Through 173 plate appearances this year, Calhoun has a slash line of .145/.195/.179 — numbers far below his career average of .254/.321/.410.Sign up for Home Turf and get 3 exclusive stories every SoCal sports fan must read, sent daily. Subscribe here.The 30-year-old is only three years removed from winning the Gold Glove Award, a season that also saw him post career highs with 83 RBIs and 26 home runs. He has 11 RBIs this year, going yard just once. Scioscia said Calhoun felt tightness in his right oblique when the Angels were getting to ready to leave Detroit earlier this week.“He was in the cage working a lot,” Scioscia said. “I think some things just stiffened up. It’s just something we need to address right now. … There’s no timetable yet, but hopefully it’s not too severe.”The Angels also optioned right-hander Jaime Barría (5-1, 2.48), who pitched six shutout innings against the Rangers on Friday night. He could be recalled again for a June 12 game in Seattle, when the team will again need a sixth starting pitcher.The club recalled Kaleb Cowart and Michael Hermosillo from Triple-A Salt Lake, starting the latter in right field against the Rangers on Saturday and batting him ninth.SURGERY GIVES SHOEMAKER CLARITY Shoemaker also had surgery last August to relieve radial nerve compression in his forearm. The right-hander pitched 5-2/3 innings on March 31 before lingering discomfort forced him onto the disabled list.ALSOScioscia tried to downplay any lingering tensions from Friday night, when a slide by the Rangers’ Rougned Odor resulted in a left leg gash for Angels shortstop Andrelton Simmons. “It’s kind of an unfortunate incident,” Scioscia said. “But it’s past us, I think. There was a little bit of veer on the slide.” …Infielder Zack Cozart, who had an MRI on his left forearm Friday, is “progressing quickly” according to Scioscia, and could be nearing a return to the lineup. He has not played since May 29. …The Angels held a pre-game ceremony for Albert Pujols, emblazoning the number “3000” in the outfield to commemorate the slugger’s recent career hits milestone. Pujols was also presented with a picture of himself made of 9,858 screws, representing the number of at-bats he needed to reach 3,000 hits. Angels offense breaks out to split doubleheader with Astros Newsroom GuidelinesNews TipsContact UsReport an Error Angels’ Shohei Ohtani spending downtime working in outfield Jose Suarez’s rocky start sinks Angels in loss to Astros UP NEXTAngels (Tyler Skaggs, 3-4, 3.60) vs. Rangers (Doug Fister, 1-5, 4.09), Sunday, 1:07 p.m., Fox Sports West, KLAA (830 AM) Angels’ poor pitching spoils an Albert Pujols milestone Matt Shoemaker is still six weeks away from being able to throw, but the Angels pitcher is grateful to have an answer on what has been ailing his right forearm.After exams showed no sign of nerve damage, the 31-year-old opted to undergo exploratory surgery. That procedure, performed on Tuesday, revealed a tear in the middle of his pronator teres tendon — an injury that none of his doctors had ever seen before.Dr. Steven Shin repaired the tendon, and Shoemaker appeared to be in good spirits on Saturday afternoon despite not knowing when he might finally make it back to the mound.“MRIs, bone scans, nerve studies — everything showed to be pretty clean,” Shoemaker said. “I’m really thankful we went in and did the exploratory procedure, because we would have never found this if we didn’t. That’s nice to have that answer.”Related Articles Angels’ Mike Trout working on his defense, thanks to Twitter last_img read more

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