CHEVY CHASE, Md.--(BUSINESS WIRE)--Despite the government’s allocation of stimulus money through the Small Business Administration (SBA), America’s small businesses have found it difficult to get enough credit. But that is expected to change today when President Obama signs into law the Small Business Jobs Act.
“This is a very big deal for small businesses—and for small business lenders,” said George Harrop, the managing director of CapitalSource’s Small Business Lending group. “The biggest change is the increase in loan size. SBA 7(a) loans are permanently increased from $2 million to $5 million, and SBA 504 loans can now go up to a total loan amount of $12 million. This is particularly important for larger small businesses that were too big for SBA programs, but too small for Wall Street institutional lenders.”
To read the entire article. ckick here - http://www.businesswire.com/news/home/20100927006088/en/Small-Business-Jobs-Act-Means-Big-Opportunities
Showing posts with label loans. Show all posts
Showing posts with label loans. Show all posts
Monday, September 27, 2010
Monday, September 20, 2010
Senate OKs Small Biz Jobs Bill
NEW YORK (CNNMoney.com) -- After months of debate and significant pressure from the White House, the Senate on Thursday passed a $42 billion bill aimed at helping small businesses.
The House passed its own version of the bill about 3 months ago. The Senate's version of the Small Business Jobs Act will now have to go back to the House, where it's expected to pass, before President Obama can sign it into law.
The measure is expected to create 500,000 jobs, according to a Senate summary of the bill. Hiring by small businesses, considered a key driver of job growth, has been shrinking over the last two and a half years.
The bill, which passed the Senate vote 61 to 38, aims to spur hiring by making credit more available to small businesses. The number of loans has dropped by 17.8% since the second quarter of 2008 and the total value of those loans plunged by $60 billion to $650 billion, according to data from the FDIC.
To read the entire article, click here -
http://money.cnn.com/2010/09/16/smallbusiness/small_business_jobs_bill/index.htm
The House passed its own version of the bill about 3 months ago. The Senate's version of the Small Business Jobs Act will now have to go back to the House, where it's expected to pass, before President Obama can sign it into law.
The measure is expected to create 500,000 jobs, according to a Senate summary of the bill. Hiring by small businesses, considered a key driver of job growth, has been shrinking over the last two and a half years.
The bill, which passed the Senate vote 61 to 38, aims to spur hiring by making credit more available to small businesses. The number of loans has dropped by 17.8% since the second quarter of 2008 and the total value of those loans plunged by $60 billion to $650 billion, according to data from the FDIC.
To read the entire article, click here -
http://money.cnn.com/2010/09/16/smallbusiness/small_business_jobs_bill/index.htm
Wednesday, March 24, 2010
How To Get SBA Funding | Obama $30 Billion Proposal For Community Banks
Obama has proposed to give $30 billion to community banks, learn how to get SBA funding and be ready for when the funds become available.
President Obama in his state of the union address announced a proposal to give $30 billion to community banks for the purpose of using the funds for small business loans. The funds are assumed to be regulated through the SBA but no details have been given as to date. The White House will announce details in the upcoming weeks.
The SBA has long championed the small business community and has offered many loan types to accommodate just about any small business. You can learn more at http://www.sbaloans-123.com/
To read the entire article, click here - http://www.prlog.org/10516020-how-to-get-sba-funding-obama-30-billion-proposal-for-community-banks.html
President Obama in his state of the union address announced a proposal to give $30 billion to community banks for the purpose of using the funds for small business loans. The funds are assumed to be regulated through the SBA but no details have been given as to date. The White House will announce details in the upcoming weeks.
The SBA has long championed the small business community and has offered many loan types to accommodate just about any small business. You can learn more at http://www.sbaloans-123.com/
To read the entire article, click here - http://www.prlog.org/10516020-how-to-get-sba-funding-obama-30-billion-proposal-for-community-banks.html
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