The 2009 stimulus law got the ball rolling, allowing the agency to reduce and eliminate fees and raise loan guarantees to 90 percent of the total. I knew that we had the opportunity to use S.B.A. products to fill that gap in a rapid manner, as we ended up doing in the Recovery Act.

Karen Mills

Karen Mills

Act Agency Allowing Ball Doing Eliminate Ended Fees Fill Gap Got Guarantees Had Knew Law Loan Manner Opportunity Percent Products Raise Rapid Recovery Reduce Rolling Stimulus Total Up Use

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We were able in the Recovery Act to get a program where we increased our loan guarantees to 90 percent. Because we had that program, a bank wouldn't have to take that much risk.

— Karen Mills

We really accomplished what we set out to do with the Recovery Act programs, which was to fill the lending gap created by the crisis.

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We don't want to give a business that is not going to come through the troubled waters a loan that they can't pay back.

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We're moving aggressively to reduce the tax gap, ... But no one should think we can totally eliminate the gap. That would take Draconian measures and make the government too intrusive. We have to strike the right balance.

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