Small businesses that had been choking for funding since the collapse of lenders like Advanta and the near-collapse of CIT can breathe a sigh of relief.
The Treasury Department is supposedly days away from making $15 billion in funding available for small businesses. Clark has originally announced this money was on tap in winter shortly after President Obama took office, but it took this long behind the scenes to turn on the funding spigot.
$15 billion is a lot of money in total, but it's not much when you consider each and every entrepreneur that needs it. Still, it should help the flow of capital.
So if you found the teller window to borrow was closed through the Small Business Administration program in the past, it is now opening up again. Visit
SBA.gov for more details on the program.