Posts Tagged ‘finance’
04/06/2009
| The Small Business Administration (SBA) is still defining its forthcoming emergency loans program, but it has revealed SBA-backed loans made before the stimulus bill’s passage on Feb. 17 won’t be eligible for loan relief.
The loan program, which is tentatively dubbed the “America’s Recovery Capital” (ARC) loan program, is part of the stimulus bill and a provision Congress wrote into the bill explicitly prevents the new stabilization loans from being used to pay down SBA-backed loans made before the bill’s enactment, according to CNNMoney. Source: CNNMoney: Emergency Biz Loans: What Qualifies Related Content: |
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03/04/2009
The proposed $700 million earmarked in the 2010 budget for the Small Business Association (SBA) could be enough to back about $28 billion in loans to small business owners, reports CNNMoney.
Critics warn that this is not going to be an overnight savior for small businesses or the SBA, however.
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