stimulus

Position a Small Biz for Stimulus Loan: Q&A with Wall Street Journal bestselling author Steve Kaplan

As we’ve reported previously, the government is concentrating on securing loans for small business. Steve Kaplan—an entrepreneur and Wall Street Journal bestselling author—presents all of the steps necessary to get a small business loan in his upcoming book Sell Your Business For the Max.

Government to pump "a significant amount" of money into small business lending

CNN Money reports that the new administration will be concentrating on making lending to small business more attractive.

There was a 57% drop in the number of loans through the Small Business Administration's main lending program for the last three months of 2008, compared to the same period one year ago.

"The stimulus bill passed last month included $730 million for direct spending on small-business initiatives, including expanded financial support for the SBA's two key lending initiatives, the 7(a) and 504 programs. Under those programs, the SBA guarantees loans made by banks to small-business borrowers. If the business defaults, the SBA picks up the tab for the insured portion of the loan. (...)

Small Biz and the Stimulus

Part of the economic recovery bill, to be signed into a law by President Obama, will focus on increasing the number of small business loans that banks issue. A number of other measures in the recovery bill are also aimed directly at improving the small business environment.

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