Treasury Getting into the SBA Loan Business

One of the issues that small business owners face when seeking an SBA loan is the need for someone to actually buy the loan once it is made. You go to the bank, you get SBA backing for the loan; the bank gives you the loan and then sells it as part of a package to an investor. One of the reasons banks have been reluctant to make loans to small businesses—with or without the SBA guarantees—has to do with the lack of investors willing to buy up those loans.  /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-fareast-font-family:"Times New Roman";} Enter the Treasury Department with a brand new idea: Spend $15 billion on... [Read Full Article]


Treasury to Buy SBA Loans

  Government, Politics and the Economy Treasury to Buy SBA Loans The Treasury Department is finalizing its plans for a $15 billion initiative to stimulate SBA lending by using federal bailout money to buy up SBA loans. WashingtonPost.com Global Warming Bill Will Hit Homeowners and Small Business the Hardest A Heritage Foundation analysis of the Waxman-Markey global warming bill predicts the bill will result in sky-high costs averaging $393 billion annually and destroying over a million jobs from 2012 to 2035. Heritage.org Management and Operations [Read Full Article]


Venture Capitalist becomes Advocacy's Chief Counsel

  Government, Politics and the Economy Obama Names Venture Capitalist to SBA Advocacy Office President Obama has named Venture Capitalist Winslow Sargeant as the chief counsel of the Small Business Administration’s Office of Advocacy. SmallBizJournal.com Obama: Our Projects Will Boost Jobs, Economy Has `Long Way to Go' President Obama has vowed to speed up the spending of federal money on public works projects and said there are signs that a US economic recovery has helped lead to a “reduction in fear” in financial markets. Bloomberg.com [Read Full Article]


Emergency SBA Loans to be Available in June

  Government and Economy Emergency SBA Loans to be Available in June According to the SBA, a new emergency loan program to help struggling-but-viable small businesses will be open for applications in mid-June. CNNMoney.com Merced County: Desperate for Small Business With a staggering 22% unemployment rate and ranking Number Two in the nation in foreclosures, Merced County in California is now pinning its economic hopes on small business. BusinessWeek.com [Read Full Article]


Has the US Become the New Russia?

  Government and Economy Has the US Become the New Russia? In the May issue of the Atlantic Monthly, Simon Johnson, former chief economist at the IMF and a professor at the Sloan School of Management at MIT compares the “financial oligarchy” running US policy with the business elites in emerging countries. FT.com SBA Lending Assistance Stalling T he parts of the federal government's stimulus program aimed at small-business owners aren't working as they should, say local owners and small-business experts who are trying to figure out what to do about the problem. Management and Fina... [Read Full Article]