Why Aren’t Small Businesses Getting Their Fair Share of Gov’t Relief?

Posted on February 9, 2009
Filed Under Hot Topics |

The latest version of the stimulus package being hashed out in Congress appears to be slighting small businesses, the nucleus of job creation. According to Dan Danner, President and Chief Executive of the National Federation of Independent Business, “the bill under consideration provides little relief or incentives to small businesses.” Given that 70% of banks have significantly reigned in lending to small business owners, the SBA is no longer providing enough guaranteed loans and support, and using credit cards has become less desirable (for a multitude of reasons), small business owners aren’t left with many options - which totally contradicts the purpose of the stimulus package… TO CREATE JOBS. 

Apparently the proposed stimulus bill would funnel millions of dollars to the SBA to offer low/no fee, guaranteed loans; however, provisions are missing that would require commercial banks to earmark a certain percentage of their funds to small business lending.

Click here to read an insightful article by Keith Girard on AllBusiness.com:  http://www.allbusiness.com/government/government-bodies-offices-legislative/11772431-1.html

Perhaps more details of the package will be revealed today, but I’m wondering why Congress and this Administration aren’t acknowledging the monumental impact small business has on our economy…

 

Comments

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