David Kirkpatrick

October 20, 2009

Small business stimulus

The stimulus plan finally comes to Main Street. This is something that should have happened months ago. Better late than never, I guess.

From the link:

President Obama will visit a Maryland business on Wednesday afternoon to announce initiatives to encourage lending to small businesses. According to an administration official, the proposal will increase the caps for existing Small Business Administration loans and give smaller banks better access to funds from the Troubled Assets Relief Program.

An industry official involved in S.B.A. lending said the White House would propose raising the cap on the agency’s flagship 7(a) loan from $2 million to $5 million. But other programs are likely to see increases, too, including the 504 program.

There is one caveat, though:

Changing S.B.A. programs would be subject to Congressional approval.

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2 Comments »

  1. […] (Co-posted from here.) […]

    Pingback by Main Street gets stimulus « davidkirkpatrick — October 20, 2009 @ 7:54 pm

  2. […] already blogged on the upside of this issue — that is, the Obama administration is helping Main Street through expanding the lending capacity […]

    Pingback by TARP banks leave Main Street out in the cold « davidkirkpatrick — October 22, 2009 @ 7:12 pm


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