Administrator Karen Mills says the SBA won't need to furlough employees because it already cut staffers through early retirements. She expects little impact on the amount of loans the SBA guarantees because demand for some types of loans is likely to decline.
Mills says many small businesses have already felt the impact of the budget cuts that are known as sequestration. She noted that contracts at the Pentagon, the agency that has the biggest federal contracting budget, were down sharply in December.
Mills, who plans to leave her post later this year, made her comments in a meeting with reporters.
MORE HBJ HEADLINES
Rudder problem, pilot action blamed for Airbus A320 crash 2:18 p.m. Tommie Copper to pay for infomercial claims 2:50 p.m. Briefs: MOD Pizza opens Marysville franchise Former policy director hired as CEO of Economic Alliance Readers testify on their personal-finance feats Appliance recycler Jaco shuts down, laying off 154 locally
Our new comment system is not supported in IE 7. Please upgrade your browser here.