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Jul 22, 2009 -- Small business to benefit from $15 billion influx

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.

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What others are saying

  • small business loan
    very helpful
  • Just say NO to SBA's offers of "help"
    SBA backed? LOL - you're better off going directly to a local loan shark, it will save a lot of time and paperwork. These direct SBA loans are immediately bundled and sold off to outfits like Fleet Financial (now owned by BoA). Miss one payment, have a lousy quarter and BAM! they will declare default and move in for the kill.

    With the local loan shark at least you have some measure of familiarity and a modicum or mercy.
  • sba loans
    China already owns this country we were all sold out years ago...
  • Money floating?
    They do NOT have it floating around - they are robbing Peter to pay Paul OR China will own us before this is all over with!!
  • Money floating around
    It's funny we have billions floating around via the govt., but I can't find a stupid $30K/yr job, even with a master's in environmental science.
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