Frequently Asked Questions about Small Business Finance
Advocacy’s Small Business Finance FAQ is a convenient place to find information on small business financing, types and amounts of capital used by small businesses, the role that different lending options play for small businesses, and trends and characteristics of capital access by business owner demographic.
Advocacy Comments on Department of Labor’s H2B Visa Rule
On January 31, Advocacy commented on the Department of Labor’s proposed changes to the H2B Visa program. Advocacy expressed concerns that changes to the Adverse Effect Wage Rule would be a challenge for small businesses to track and enforce and encouraged Labor to take small business comments on the rule.
Advocacy Comments on Waters of the United States Rule
On February 7, Advocacy submitted comments to the Environmental Protection Agency and Army Corps of Engineers on their proposed rule to define the Waters of the United States. Advocacy expressed concerns that the rule will have a direct impact on small entities and encouraged the agencies to review the rule.
The Environmental Protection Agency has scheduled two public meetings to discuss its regulation of perfluoroocatnesulfonic acid (PFOS) and perfluorooctanoic acid (PFOA) in public drinking water under the Safe Drinking Water Act. The meetings are scheduled for March 2 from 1:00pm to 4:00pm ET and April 5 from 5:00pm to 8:00pm ET. Written comments can be submitted through April 20.
The U.S. Consumer Product Safety Commission seeks comments on the establishment of safety standards for clothing storage units. The agency has prepared an initial regulatory flexibility analysis for public review and requests comments by April 19.
The U.S. Consumer Product Safety Commission seeks small business input on a proposed rule to establish safety standards for window covering cords. Written comments on the agency’s initial regulatory flexibility analysis and rule are due by March 23.
The Environmental Protection Agency is seeking small businesses, governments, and not-for-profit organizations to participate as Small Entity Representatives for a Small Business Advocacy Review Panel on Perfluoroalkyl and Polyfluoroalkyl Substances. Interested parties should contact Advocacy for details about participation.
On November 23, 2021, the U.S. Forest Service published a notice of proposed rulemaking to repeal the 2020 final Alaska Roadless Rule, which exempted the Tongass National Forest from the requirements of the 2001 Roadless Rule, which prohibited timber harvest and road construction within designated areas within Alaska. Advocacy encouraged Forest Service to select a regulatory alternative that balances the competing interests of small businesses and that minimizes the overall burdens to impacted entities.
On November 15, 2021, the Environmental Protection Agency (EPA) published a proposed rule that would directly regulate methane emissions from new and modified sources and establish standards for state regulation of methane emissions from existing sources. Advocacy expressed concerns that EPA has not fully considered the impact that this proposed rule will have on small businesses.
On December 8, 2021, FinCEN published a notice of proposed rulemaking on Beneficial Ownership Information Reporting Requirements in the Federal Register. The proposed regulations would implement Section 6403 of the Corporate Transparency Act, which was designed to combat money laundering, terrorism, tax fraud, and other illicit activity. Advocacy encouraged FinCEN to take advantage of additional flexibilities for small businesses to reduce their overall financial burden.
The U.S. Consumer Product Safety Commission seeks small business input on a proposed rule to establish safety standards for magnets that are part of consumer products. Written comments on the rule and the regulatory flexibility analysis are due March 28.
FREQUENTLY ASKED QUESTIONS
There are two main ways you can connect with Advocacy and share your concerns about regulatory burdens on small businesses:
1) Contact Advocacy Staff about the regulatory issues your small business is experiencing.
2) Check Out Advocacy’s Publication, “A Basic Guide to Federal Rulemaking and Small Business” to learn how small business can get involved in the federal rulemaking process.
