Small Businesses may get help from Obama’s push for lending
Posted February 7, 2010on:
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