An Overview of the Small Business Jobs Act, by Axiom Solutions LLLP

The highly qualified professionals at Axiom Solutions LLLP work with companies to explain and research the current tax laws and benefits that apply to their particular situations, including the Small Business Jobs Act (SBJA). In the following, Axiom Solutions discusses the act.

The act was ratified on September 27, 2010, by the 44th President of the United States, Barack Obama. About $505 million was allocated in order to back over $12 billion in loans for small businesses. The act focused on supporting small businesses run by women, minorities, veterans, and individuals in remote areas of the United States, comprising 66% of those who received aid.

Benefits of the act include lower fees, larger loans, and fewer restrictions on those who can qualify. Other effects of the act include commercial real estate financing into the 504 loan program for a period of time and funding for nonprofit groups that work to support small businesses. Other benefits include increased borrowing opportunities for businesses that sell products that require titles, such as cars and boats.

The Small Business Jobs Act will repeal the Competitive Demonstration program currently in place, which will increase opportunities for contractors. Moreover, the act attempts to address fraud and other illegal activities as they relate to small business loans. Goals include facilitating the export of goods produced by small businesses and funding grants for counseling relating to the development of small businesses. The act raises the cap on international trade loans, making the Export Express loan program a permanent institution and establishing $12 billion in tax relief.

About Axiom Solutions
Offering benefits to companies from a wide range of industries, Axiom Solutions LLLP is a professional services firm that provides financial consulting services, marketing education, and custom tools. Axiom Solutions possesses clients in fields such as manufacturing, engineering, software, biotechnology, and food sciences. A team of talented professionals created Axiom Solutions out of a vision to help businesses reach their full potential. In 1996, the team founded Axiom Solutions, applying their expertise honed at companies such as KPMG Deloitte, Oracle, PricewaterhouseCoopers LLP (PWC), and Electronic Data Systems (EDS). Axiom Solutions maintains offices across the United States. With headquarters in Denver, Colorado, Axiom Solutions also serves clients at locations in Houston, Texas; Washington D.C.; Atlanta, Georgia; and Los Angeles, California. The superior management team at Axiom Solutions is responsible for the company’s energetic and innovative spirit. The team is committed to making the company a stimulating place to work. Based in the Denver office, Larry Nealy is one of the firm’s founding partners. Prior to establishing Axiom Solutions, Nealy held various positions in tax-consulting management, including a role as Director at myCFO, Inc., and Senior Manager at Deloitte & Touche. As a General Partner at Axiom Solutions, Frank Saya is also based out of the Denver office. He brings over 24 years of business experience, working with companies like Ferring Laboratories, SuperNet Inc., and Qwest Communications. In addition, David Ahn is Regional Managing Director for Axiom, based in the Los Angeles office. He possesses over 11 years of experience in management with companies like Ernst & Young and Deloitte & Touche. Many professional organizations count Axiom Solutions among their members, including the American Council Of Engineering Companies, the National Tooling and Machining Association, and the American Medical Association. The firm continues to stay involved in new developments in the field of financial advisory services. The professional team behind Axiom Solutions’ many services also stays informed about the ever-changing tax laws and programs, as well as their relation to the industries that the firm serves.

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