A Hint of Good News for Small Businesses
An article I found that seems to give a glimpse of hope for small businesses during hard economic times. I hear stories all the time from our clients and school students about how hard it is right now to get financing, etc.
I think this is a step in the right direction and am happy to hear there will be some relief and focus on small business owners, SBA loans etc.
Snippet from the Article
"The broad package of measures to be announced Monday includes portions of the $730 million from the stimulus plan that will be used to immediately reduce small-business lending fees and increase the government guarantee on some Small Business Administration loans to 90 percent. The government also will take aggressive steps to boost bank liquidity with more than $10 billion aimed at unfreezing the secondary credit market, according to officials briefed on the plan who demanded anonymity to avoid pre-empting the president's announcement.
In the coming weeks, the SBA will unveil additional initiatives as part of the stimulus plan to help a small-business community that is seen as critical to staving off job losses and promoting economic growth, officials said."
I think this is a step in the right direction and am happy to hear there will be some relief and focus on small business owners, SBA loans etc.
Snippet from the Article
"The broad package of measures to be announced Monday includes portions of the $730 million from the stimulus plan that will be used to immediately reduce small-business lending fees and increase the government guarantee on some Small Business Administration loans to 90 percent. The government also will take aggressive steps to boost bank liquidity with more than $10 billion aimed at unfreezing the secondary credit market, according to officials briefed on the plan who demanded anonymity to avoid pre-empting the president's announcement.
In the coming weeks, the SBA will unveil additional initiatives as part of the stimulus plan to help a small-business community that is seen as critical to staving off job losses and promoting economic growth, officials said."
Replies to This Discussion
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Permalink Reply by Ryan Palmer on
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I am very happy to hear about this, especially after talking with many of my friends. They have almost all had any investors or loans that they've been going after, fall out from under them. Even I am looking at a SBA loan right now, after turning down an 'Angel Investor' because he was a bit on the crazy side.
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Permalink Reply by Marshall Fuss on
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Another bright spot is that landlords are offering deals that have not been seen in years. Low rents and generous tenant improvement allowances. Yes, the market might go even lower, but, as they say, "No one rings a bell when the market hits bottom." This could be an excellent time to lock in a deal for good space at low rent.
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