Work From Home Articles, Small Business News, and Home Business Buzz

Small Businesses may get help from Obama’s push for lending

Posted on: February 7, 2010

In President Obama’s weekly address, he is urging Congress to move quickly to help create more jobs.   Several proposals are on the table to make this happen.

President Obama’s proposals are:

  • Utilizing the $30 billion in TARP funds to create a new Small Business Lending Fund to provide capital to community banks to increase lending to small businesses
  • Offer a new tax credit for over one million small businesses that hire new workers or raise wages
  • Provide targeted support for the most innovative small businesses with the potential to export new goods and products. 

 

Watch President Obama’s weekly address

  • Unemployment rate has dropped below 10%, but still unacceptable.
  • Build small businesses with job creation
  • Expand the size of SBA backed loans for small businesses
  • Give small business owners ability to refinance mortgages
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