Pixel Tracker

Tuesday, February 19 , 2019, 1:26 am | Fair 47º


Capps Introduces Legislation to Help Green Businesses

The bill would direct the SBA to create a loan program aimed at expanding jobs

Rep. Lois Capps, D-Santa Barbara, announced Tuesday the introduction of legislation that will help clean energy companies access the capital that they need to grow and hire.

With Rep. Doris Matsui, D-Calif., and 15 other original co-sponsors, Capps introduced the Small Business Clean Energy Financing Act (House Resolution 6212), which would direct the Small Business Administration to create a clean energy loan program within its 7(a) loan program to give the agency more flexibility to use existing funding to award loans to clean energy companies.

“The creation of a new green business loan program within SBA would provide a much-needed boost to our economy by increasing access to capital for clean energy technology businesses,” Capps said. “I have seen firsthand how the green businesses on the Central and South coasts are ready to grow and hire if they just have the resources. The federal government can continue to be an effective partner in jump-starting the green economy, and this legislation is a great example of how we can help.”

The SBA provided about $630 million in 7(a) loans to clean energy companies from 2006 to 2009, although the agency averages $13 billion annually for the 7(a) program. The creation of a clean energy loan program in the 7(a) loan program would make it easier for small clean energy companies to access capital.

The Small Business Clean Energy Financing Act builds on other legislation that Capps supports to assist small businesses, including the Small Business Jobs Act that President Barack Obama signed into law Monday.

This new law provides $12 billion in tax cuts for small businesses, more than doubles the maximum loan size for several existing SBA loan programs, and creates a new $30 billion small-business lending fund that will provide incentives to community banks to increase lending to local small businesses.

— Ashley Schapitl is the press secretary for Rep. Lois Capps, D-Santa Barbara.

Talk to Us!

Please take Noozhawk's audience survey to help us understand what you expect — and want — from us. It'll take you just a few minutes. Thank you!

Get Started >

Support Noozhawk Today

You are an important ally in our mission to deliver clear, objective, high-quality professional news reporting for Santa Barbara, Goleta and the rest of Santa Barbara County. Join the Hawks Club today to help keep Noozhawk soaring.

We offer four membership levels: $5 a month, $10 a month, $25 a month or $1 a week. Payments can be made using a credit card, Apple Pay or Google Pay, or click here for information on recurring credit-card payments and a mailing address for checks.

Thank you for your vital support.

Become a Noozhawk Supporter

First name
Last name
Select your monthly membership
Or choose an annual membership

Payment Information

Membership Subscription

You are enrolling in . Thank you for joining the Hawks Club.

Payment Method

Pay by Credit Card:

Mastercard, Visa, American Express, Discover
One click only, please!

Pay with Apple Pay or Google Pay:

Noozhawk partners with Stripe to provide secure invoicing and payments processing.
You may cancel your membership at any time by sending an email to .(JavaScript must be enabled to view this email address).

  • Ask
  • Vote
  • Investigate
  • Answer

Noozhawk Asks: What’s Your Question?

Welcome to Noozhawk Asks, a new feature in which you ask the questions, you help decide what Noozhawk investigates, and you work with us to find the answers.

Here’s how it works: You share your questions with us in the nearby box. In some cases, we may work with you to find the answers. In others, we may ask you to vote on your top choices to help us narrow the scope. And we’ll be regularly asking you for your feedback on a specific issue or topic.

We also expect to work together with the reader who asked the winning questions to find the answer together. Noozhawk’s objective is to come at questions from a place of curiosity and openness, and we believe a transparent collaboration is the key to achieve it.

The results of our investigation will be published here in this Noozhawk Asks section. Once or twice a month, we plan to do a review of what was asked and answered.

Thanks for asking!

Click Here to Get Started >

Reader Comments

Noozhawk is no longer accepting reader comments on our articles. Click here for the announcement. Readers are instead invited to submit letters to the editor by emailing them to [email protected]. Please provide your full name and community, as well as contact information for verification purposes only.