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Rejoinder to Charles D. Tansey: Moving Toward a More Effective Small Business Administration

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  • Timothy Bates

    (Wayne State University)

Abstract

Former Small Business Administration (SBA) Deputy Administrator Charles Tansey defends the SBA’s record, countering criticisms appearing in the author’s August 2000 Economic Development Quarterly article. He defends the venture capital incentives contained in the SBA’s New Market Venture Capital program. Yet these incentives are based on a debenture financing scheme that failed when used previously to support venture capital investing in the SBA’s Small Business Investment Company program. Tansey defends the SBA’s record of expanding loan guarantees to minority business borrowers in the 1990s. These guarantees, however, have increasingly flowed to high-net-worth Asian immigrant borrowers rather than the minority groups most prone to have limited access to financing. The SBA is wedded to outdated strategies and concepts that have lost their applicability to 21st-century problems. A pragmatic rethinking of the agency’s financing mission is overdue.

Suggested Citation

  • Timothy Bates, 2002. "Rejoinder to Charles D. Tansey: Moving Toward a More Effective Small Business Administration," Economic Development Quarterly, , vol. 16(2), pages 185-190, May.
    • Handle: RePEc:sae:ecdequ:v:16:y:2002:i:2:p:185-190
    DOI: 10.1177/0891242402016002009
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    References listed on IDEAS

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    1. Timothy Bates, 2000. "Financing the Development of Urban Minority Communities: Lessons of History," Economic Development Quarterly, , vol. 14(3), pages 227-242, August.
    2. Timothy Bates, 2002. "Government as Venture Capital Catalyst: Pitfalls and Promising Approaches," Economic Development Quarterly, , vol. 16(1), pages 49-59, February.
    3. Ken Cavalluzzo & Linda Cavalluzzo & John D. Wolken, 1999. "Competition, small business financing, and discrimination: evidence from a new survey," Proceedings 757, Federal Reserve Bank of Chicago.
    4. Ken Cavalluzzo & Linda Cavalluzzo & John D. Wolken, 1999. "Competition, small business financing, and discrimination: evidence from a new survey," Finance and Economics Discussion Series 1999-25, Board of Governors of the Federal Reserve System (U.S.).
    5. Bates, Timothy, 1997. "Financing small business creation: The case of Chinese and Korean immigrant entrepreneurs," Journal of Business Venturing, Elsevier, vol. 12(2), pages 109-124, March.
    6. Charles D. Tansey, 2002. "Response to August 2000 Forum Article by Timothy Bates on Financing for the Development of Urban Minority Communities," Economic Development Quarterly, , vol. 16(2), pages 180-184, May.
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