Obama Administration Announces More Help For Small Business

Self Made: NASE's Blog

Blog With Us

Welcome to the Self Made. This is a blog focused primarily on the self-employed and micro-business and full of fantastic posts by not only our team of experts but by YOU!  We realize that there are many ways to help the small businesses out there which is why we invite other business minded individuals to post here and help the rest of the community as well.

Obama Administration Announces More Help For Small Business

Oct 22, 2009
Posted by Molly Nelson - The Obama administration recently announced new initiatives to help American small businesses access credit and create jobs.

The three new measures discussed by President Barack Obama were:

  1. Working to improve access to credit for small firms by making lower-cost capital available to small banks that present small business lending plans and to Community Development Financial Institutions (CDFIs) that lend to small businesses in the hardest-hit rural and urban areas.
  2. Seeking legislation to increase the maximum size of three types of SBA loans - increasing the maximum loan size of 7(a) loans from $2 million to $5 million, 504 loans up to $5.5 million for manufacturing companies and microloans from $35,000 to $50,000 respectively.
  3. Asking Treasury Secretary Geithner and SBA Administrator Mills to bring together regulators, Congressional leaders and small-business owners to discuss additional ways to increase access to credit for small firms.

View a fact sheet on the initiative here.

NASE statement: “Mr. President, The Self-Employed Need Your Help”

The opinions expressed in our published works are those of the author(s) and do not necessarily reflect the opinions of the National Association for the Self-Employed or its members.

Courtesy of NASE.org