HomeMy WebLinkAboutResolutions - 2009.03.05 - 9853Miscellaneous Resolution 409056
BY: Commissioner David Woodward, District #18 jj 4 'F.
RE: Board of Commissioners - Oakland Mieroloan Study Group
TO: Oakland County Board of Commissioners
Chairperson, Ladies and Gentlemen:
WHEREAS the credit crisis facing our nation has put increasing pressure on the ability of start-up small
business to gain access to capital, as well as impairing the ability of existing small business to acquire
loans to grow their business; and
WIIEREAS the U.S. Small Business Administration (SBA) was created in 1953 as an independent
agency of the federal government to aid, counsel, assist and protect the interests of small business
concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of
our nation; and
WHEREAS the SBA provides support s for numerous programs to help grow small businesses; and
WHEREAS the SBA Microloan Program provides very small loans to start-up, newly established, or
growing small business; and
WHEREAS the SBA makes funds available to nonprofit community based leaders (intermediaries)
which, in turn, make loans available to eligible borrowers in amounts up to a maximum of $35,000; and
WHEREAS eligible intermediary may be a quasi-governmental economic development corporation; and
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of Commissioners creates the
Oakland Microloan Study Group to explore the feasibility of developing and implementing a Mieroloan
Program in Oakland County.
BE IT FURTHER RESOLVED that the Oakland Microloan Study Group consists of the following:
• The Chair of the B0C's Finance Committee
• The Minority Vice-Chair of the BOC's Finance Committee
• Another County Commissioner from the Majority Party
• Another County Commissioner from the Minority Party
• A designee of the County Executive
• A designee of the County Treasurer
• A designee from the Oakland County Economic Development Corporation
BE IT FURTHER RESOLVED that the Oakland Microloan Study Group shall issue a report on its
findings and recommendations to the Finance Committee six months after the adoption of this resolution.
BE IT FURTHER RESOLVED that the Oakland County Clerk is requested to forward copies of this
adopted resolution to the Oakland County Executive, Oakland County Treasurer and Oakland County
Economic Development Corporation.
7-1 Chairperson, we move the adoption of the foregoing Resolution.
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Resolution #09056 March 5, 2009
The Chairperson referred the resolution to the Finance Committee. There were no objections.