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SincerelyJamesR.BairdExecutiveDirectorCEOThisreporthighlightswhatwehavebeenabletoaccomplishinthelastyearandsinceinceptionandsuggestshowmuchmorecanbedonewith504fnancinginthecomingyears.Hugeprogresshasbeenachievedthroughtheessentialcollaborativeworkwithyouourpartnerswhoareacriticalelementineachandeveryprojectwefnance.WethankalloyouoryourworkwithusincludingTHESMALLBUSINESSESwearesoortunatetoworkwithwhoareincrediblydiverseandingeniousindevelopingstrategiesandauniqueblendoproductsservicesandmarketnichesinordertosurviveandthriveinthesechallengingandevolvingtimes.Theirworktrulyinspiresus.OURLENDINGPARTNERSOurCDCandthevitalityo504fnancingdependsonthelenderswhoactivelyparticipateinourprogramthroughthickandthin.Ahugedebtogratitudegoestoallothelenderswhohavecontinuedtoworksohardtohelptheirclientsgetthebestpossibleloantermsineveryeconomicenvironmentbyworkingwithusinthe504program.THESMALLBUSINESSADMINISTRATIONwhoseemployeescontinueyearateryeartoepitomizecommitmenthardworkanddedicationtosmallbusinesssuccess.TheSBAsguarantyenablesaccesstocriticallyneededwell-structuredcapitalsothatmanythousandsocompanieseachyearcanbecomemoresustainablegrowandcreatejobs.ATREMENDOUSTHANKYOUgoestoalloourpartnerswhocontinuetoworkwithusthroughouttheseunprecedentedtimes.Weinviteyoutoreviewour2013AnnualEconomicDevelopmentReportandtoexaminethebig-pictureimpactsoourpartnership.Byworkingtogetherwehaveallbeenpartothesolutionandwethankyousomuchorthis.TOOURPARTNERS