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The chairman of the Senate Small Business Committee says he has "serious reservations" about the SBA's ability to tackler new programs when offices supporting current programs are "underfunded and understaffed" despite past budget increases.
Sen. Christopher Bond, R-Mo., calls the Small Business Administration's proposed $1.06 billion budget for next year "an ambitious addition to a house sitting on a foundation of wet cement." The SBA's current budget is $873.7 million.
In addition to expanding current loan programs, SBA wants $150 million for its proposed New Markets Venture Capital program, which would finance businesses in low- and moderate-income areas …