New credit squeeze coming for small business?

You’ll recall my recent post about the anticipated changes and expansion of small business lending. Now it’s possible that two of the  stimulus programs may expire … BEFORE any new ones take their place. This includes the most popular provisions that allowed the SBA to drop their fees and to raise the maximum guarantee to [...]

Update: Small Business Stimulus

The other day we learned of renewed efforts promised by the Obama Administration to stimulate small business.
This week, they announced some plans to sweeten guaranteed loan programs. The administration is allowing a few weeks for comments before finalizing these details.

The SBA will raise loan limits from $2m to $5M
Local banks can get 3% interest rates [...]

It’s about time!

Tomorrow, the Obama Administration is scheduled to announce new initiatives to spur small business lending. Among the initiatives are increasing limits for SBA loan and make it easier for smaller banks to access TARP money.
As we know, the SBA estimates that small business creates 60-80% of new jobs. So, if job creation is number one, [...]

SBA Loan Program disappoints again

Despite all the recent publicity about the SBA’s “helping hand” to small business, recent reports tell another story. Loan volume in dollars is down $3.6 billion, around 27%, and 25,000 fewer businesses have been served this year. Pretty woeful record when programs to support Wall St. and the banking industry got delivered virtually overnight … [...]