small biz rescue

[electricalperson]

on aol news they said obama has a plan to help small businesses out by helping them get loans easier. anyone have any more info on this?

i dont want this to become a political thread just a discussion about the rescue package for small businesses

 

[wireguru]

I saw something about 15 billion being made available, but lets see how much of that actually ends up in the hands of the small businesses that need it. Much of it will be lost to banks that get it and dont loan it out, lost to scammers that work the system to get the loans, lost to people who receive loans due to priority given to minority owned business who dont have a viable business and it fails, etc.

 

[sparky76]

put me on the watch list for the rescue package!!!

 

[petersonra]

How is loaning money to non-viable businesses going to help them long term?

If they can't sell their product or service, they will just owe more when they finally go under.

 

[electricalperson]

How is loaning money to non-viable businesses going to help them long term?

If they can't sell their product or service, they will just owe more when they finally go under.

my guess is they will give money to help pay for payroll. people with jobs will be more likely to spend there money than the unemployed more people spending = economy improvement

 

[sparky76]

The gubmint is already floating billions to non viable businesses, i.e. "The Big Three", so why not to the thousands of small businesses. Just because your business is flat in a recession doesnt make you non viable......It makes you normal. 70% of Americans are employed by small businesses.

 

[Dnkldorf]

on aol news they said obama has a plan to help small businesses out by helping them get loans easier. anyone have any more info on this?

i dont want this to become a political thread just a discussion about the rescue package for small businesses

And you believe him this time?

I have a feeling this is a payback to Organized labor, and it will end there.

 

[electricmanscott]

I am soooo giving myself a gazillion dollar bonus!!!!

 

[petersonra]

my guess is they will give money to help pay for payroll. people with jobs will be more likely to spend there money than the unemployed more people spending = economy improvement

If they are not selling anything, just why would they hire anyone, or keep anyone on staff?

How much of a loan are you willing to take on as a businessman to have an employee sit in the corner all day sleeping because he has nothing to do just so you can get the loan.

 

[jusme123]

How is loaning money to non-viable businesses going to help them long term?

If they can't sell their product or service, they will just owe more when they finally go under.
__________________
yes, but they will kbe able to write themselves a bonus check like AIG

 

[bradleyelectric]

The gubmint is already floating billions to non viable businesses, i.e. "The Big Three", so why not to the thousands of small businesses. Just because your business is flat in a recession doesnt make you non viable......It makes you normal. 70% of Americans are employed by small businesses.

I know the media keeps refering to the big 3. Keep in mind Ford said no thanks they will weather ok.

 

[jim dungar]

Last chance to get back on the topic of small business and government assistance programs.

The OP would like facts not opinions.

 

[Rewire]

I have our office manager looking into this. I am wanting to expand our service area and a short term low interest loan would worth looking into rather than using our working capital.

 

[SmithBuilt]

I have our office manager looking into this. I am wanting to expand our service area and a short term low interest loan would worth looking into rather than using our working capital.

I don't see how it will help at all. If you can qualify for a regular loan the SBA won't help.

"SBA?s primary business loan program to help qualified small businesses obtain financing when they might not be eligible for business loans through normal lending channels."

I have too much credit now and don't want anymore. I would like to revamp our company image and advertise, that would take some money. I don't want to borrow it in this kind of economy. Cash is king.

IMO the best type of help that could have been done is to get the bad mortgages off the banks books so they will be willing to loan money to consumers.

The only thing that will help us (and everyone else) is for consumers to start spending again. IMO the government has not done anything worth while yet.

 

[Dnkldorf]

The OP would like facts not opinions.

2 facts I can think of.

1. The SBA's definition of a small business is a business with 499 or less employees.
2. You can do better at your bank for loans, than the SBA, if your credit is good to great.


Opinion.

1. If you have 499 employees, you are not a small business.
2. If you think the government is here to help you, your still asleep, and need to wake up.

 

[electricalperson]

i want this thread closed

 

[iwire]

And it is closed