Forums: Discussions for entrepreneurs and small business.

I read an article last week on Yahoo that said Obama was making funds available for small businesses.  Does anyone know how to obtain these funds?  Are they in the form of grants or loans?

• $375 million for temporarily eliminating fees on SBA-backed loans and raising SBA`s guarantee percentage on some loans to 90 percent.  The elimination of fees, announced on March 16, will remain in effect until the end of the calendar year or until the funding is exhausted.  The elimination of fees is retroactive to the day the Recovery Act was signed into law.
• $255 million for a new loan program to help small businesses meet existing debt payments 
• $30 million for expanding SBA’s Microloan program, enough to finance up to $50 million in new lending and $24 million in technical assistance grants to microlenders
• $20 million for technology systems to streamline SBA’s lending and oversight processes
• $15 million for expanding SBA’s Surety Bond Guarantee program
• $25 million for staffing up to meet demands for new programs
• $10 million for the Office of Inspector General

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The govt. was simply going to make sure and track small business lending. You still have to go through the normal channels such as a bank to get the loan but the govt. want them to lend more easily to small businesses

I never realized that there was so many small businesses that depended on credit to make operating cash flow. I really hope that most small businesses can restructure and build for the future because they are the way out of this current recession. 

This is a really cool and relevant thread. I'm glad to see that small business are able to get 'bailouts' as well. Perhaps on a level playing field (ish) our system could more closely mirror 'capitalism' much more than it has previously. 

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Unsuccessful small business should be left to hang and dry. Stop wasting resources.

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