- America’s Recovery Capital, the new emergency loan program of up to $35,000 for small businesses, was introduced this week by the Small Business Administration. The so-called ARC loans are specifically for companies that in the past were profitable but are struggling or have been making loan payments but are just beginning to miss them [...]
It’s finally happening. Efforts to get money to capital-strapped small businesses are beginning to work, as banks have returned to making loans backed by the federal government, says Karen Gordon Mills, the new Small Business Administration head.
More than 10,000 Recovery Act loans have been approved, which represents about $3 billion in credit supporting small [...]
Congress is gearing up for the big battle for health-care coverage, expected to come to the fore this summer. In the meantime, ideas for small businesses are beginning to surface.
The newest proposal comes from Senators Dick Durbin (D-Ill.), Olympia Snowe (R-Maine) and Blanche Lincoln (D-Ark.). More than half of the nation’s uninsured, they point out, [...]
- Answering calls from struggling auto dealers, the Small Business Administration announced today it will temporarily offer alternate size standards to qualify for its popular 7(a) loan program. Businesses with under $8.5 million in net worth and less than $3 million in net income the preceding two years will now have access [...]
There’s an assumption that the strength (or weakness) of the U.S. dollar has direct impact on the vitality of small U.S. retailers, especially now that the global economy has become so interconnected. But a new study finds that the dollar’s strength compared with foreign currencies has little effect on the closure rate of small retailers, [...]