Small Business Emergency Loans

May 22. 2009

President Barack Obama and his cabinet

The U.S. Small Business Association has announced emergency funding for small businesses to help them through the ongoing financial crisis. With banks not lending much, this could help many.

Two weeks ago, I was talking to a friend about old SBA loans. Several years ago, before the war, after taking a course and presenting a proper business plan, entrepreneurial hopefuls could obtain $5,000 in start up funding.

However, George W. Bush cut all that out to buy bombs for a futile war he lied about.

SBA announces emergency funding for small businesses

Thu May 21, 2009 8:50am EDT - WASHINGTON, DC (Reuters) - The U.S. Small Business Administration today announced a new emergency bridge-lending program geared toward helping struggling small businesses ride out the current recession.

Calling it another "tool to our toolbox" SBA head Karen Mills said the new American Recovery Capital (ARC) program will offer "viable" small businesses temporary six-month loans of up to $35,000…

http://www.reuters.com