Good News in Small Business Financing

We already knew that we are in a recession but it doesn't mean we have to dwell on the bad things happening these days. Today, it's time to spread some good news for small businesses out there! I found this from Business Week and it's worth to be shared.

Some welcome news for small businesses struggling in the credit crunch: A new government program to help small businesses get loans appears to be on the way.

In a closed door meeting last night with House Democrats, President Obama and Treasury Secretary Timothy Geithner announced that they will unveil a new program next week “that will provide financing, liquidity and guarantees to open up small-business lending,” according to a WSJ article today. This program will be in addition to the recently unveiled Term Asset-Backed Securities Loan Facility (“TALF”) program and bolstered Small Business Administration funding and guarantee limits in the stimulus package.

Read more about this news here --New Small-Business Lending Program Coming Soon!

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