Unpacking the Stimulus Package, Vol. 8 The National Small Business Association’s (NSBA) Mid-Year Economic Report, released today, indicates that small businesses are struggling despite stimulus help, with decreases in three key indicators of a healthy business – revenues, profits and employee size. Despite Small Business Administration’s “ARC” loan program (America’s Capital Recovery) and expanded 7(a) [...]
Unpacking the Stimulus Package, Vol. 7 Treasury Department officials are considering a plan to help small businesses by diverting some of the billions of dollars approved for bank bailouts to small businesses, but stress that “any consideration of this idea is extremely preliminary.” Treasury Secretary Timothy Geithner showed support for the proposal at a White [...]
Unpacking the Stimulus Package, Vol. 4 On June 15th, the Small Business Administration began accepting applications for their short-term deferred-payment ARC loan program. By the end of the first week, however, only four national banks had signed on to the program and only 72 of an estimated 10,000 loans had been approved nationwide, none of [...]
Unpacking the Stimulus Package, Vol. 3 The Stimulus Package created, extended or expanded several business tax deductions and credits to help small businesses struggling as a result of the economic downturn. As some of these tax breaks are only available this year, companies have just a few months to take action. Here are some of [...]
Unpacking the Stimulus Package, Vol.2 Small businesses hoping to take advantage of the SBA’s America’s Recovery Capital Loan Program (“ARC”) should be proactive in securing their place in the program, which only allows for about 10,000 loans nationwide, or an average of 200 per state. The SBA anticipates a high demand for these loans, so [...]
”It’s a huge step in the right direction,” Giovanni Coratolo, director of Small Business Policy at the U.S. Chamber of Commerce, said Saturday. ”In this economy, having the least amount of risk for banks will incentivize banks to lend to small businesses. A lot of small businesses will benefit from this.” The White House announced [...]
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