After you.
It would be refreshing to see a serious answer to my question indeed.
I agree, this was a good thing and an example of how government can help mitigate and end a recession. Banks were afraid to take risks and make loans, so the government stepped up and put taxpayers on the hook to get money flowing. I'm not a big fan of that in general, but in a recession it seems to me to be a cheap way of limiting the damage and helping the recovery.SBA loans were up 37% in 2010.
Obama signed the Small Business Jobs Act of 2010
[/LIST]IMHO the GOP blew it in their voting for this. It was Democrat sponsored and largely Democrat passed. Both sides are at historic levels of partisanship, and this is one example of the GOP's.
In answer to the OP, youre a troll. Money is increasingly available for small businesses.
In order to get a serious answer you have to ask a serious question. Since you didn't, you won't.
Usually all three at once. Still, sometimes it helps a lot more than it hurts.Government doesn't "fix" problems. It either helps a little, hurts a little, or.. far too often.. creates new problems, but it never completely fixes them.
No, you are the idiots sitting on top of your houses claiming you had no idea a hurricane was coming and might be a problem with your house being 40ft under sea level.
The right is not going to fix anything.
Neither is your messiah.
Because the Republicans control the House.
Jesus? He is not in Congress. He isn't even American. Why would he fix anything?
In answer to the OP, youre a troll. Money is increasingly available for small businesses.
To fix _____________________ problem you have two options:
1) Bigger government
2) Expand war efforts
Hey Righties out there you claim to back Small Biz how are you going to fix this???
The Small Business Administration's flagship lending program backed 37% more loans in its latest quarter than it did a year ago, at the height of the financial crisis.
In the three months ended Dec. 31, the SBA's 7(a) lending program processed 12,393 loans totaling $3.8 billion, according to preliminary data released Monday by the agency. That's a sharp increase from the 9,070 loans, totaling $1.9 billion, processed in the year-earlier quarter.
Still, lending remains far behind pre-recession benchmarks. Two years ago, in the last calendar quarter of 2007, the SBA backed more than 20,000 small business loans.
From April to October, the nation's largest banks shrunk their collective small business lending balance by 4.3%, cutting $11 billion in credit, according to the most recent Treasury Department data.
Damn, I totally forgot that about the Small Business Job Act of 2010. I agree with your points completely.We're really a 'day late and a dollar short' on this SBA stuff. But it's a positive step, but we should have done more, quicker to help keep small businesses from closing. That's 'water under the bridge' now.
From blackangst1's link:
We're still way behind where we were. In a recession, we need to be way ahead of where we were.
The Small Business Job Act of 2010 was objectionable to many because of how it was structured. Instead of allocating money directly to qualifying small businesses etc, the Treas Dept is purchasing $30 billion of small/local bank stock in hopes they will use that capital to make more loans to small businesses. The 'carrot' is a somewhat complicated formula that reduces the cost of that capital to bank who loan more to small businesses.
But seems every time in the past when we've gone at the problem 'sideways', instead of just directly putting the money to small businesses, banks figure out a way to use it for their own profit (E.g., see ARC loan program).
Another problem so far - SBA loans typically require that the prospective borrower who wants to start the business put of 20% of the capital. E.g., if you want a loan for $100K to start a business you need at least $20K of your own money. While never easy, it was far easier when you had a lot of equity in your home. Now we've got a lot of unemployed people whose homes are under water. Think they can qualify for an SBA loan? No fuggin way.
Lines of credit are very important to a lot of small businesses. Their income/business is often seasonal, meaning they are months where the money is pretty good and other months when business activity is dead. LOC help with this. They can also help with expansion or unexpected expenses (lawsuit, equip failure etc.) We need SBA involvement/help here too.
Overall, I think the SBA should be utilized far more vigorously. Stop giving +$1/2 billion chunks to any single business (some individual businesses received a greater amount than Solyndra) and spread the money around using the SBA network.
Fern
Why is it that every post the left makes lately is asking how the right is going to deal with something? Is it because Obama has no plans himself other than to ramp up spending so you need some advice? What has the left done in 2.5 years to address anything other than giving gays the right to die in Obama's war on brown people?
That's a fair question. Here's the reason why: The electorate hires the people to run the country by their votes. A lot of people vote for stupid reasons (party affiliation, single issue voters, etc) but there is a vast portion of the voters who actually want to evaluate the prospects carefully.
For a long time we have heard Obama's doing a terrible job and the GOP can do a lot better. The GOP has proven beyond the shadow of a doubt that they are masters at obstruction and delay. It's fair to ask them what they are FOR, and exactly how they intend to accomplish those goals.
If all we get is more trickle down bs in response, well you've been given the chance to make your pitch.
Republicans have passed many good bills in the house, but it is the DEMOCRATS who are obstructing their passage or won't even bring up a bill passed by the US house to a vote. You've got it backwards and are just being spoon fed the talking points.
.
Fern
Republicans have passed many good bills in the house, but it is the DEMOCRATS who are obstructing their passage or won't even bring up a bill passed by the US house to a vote. You've got it backwards and are just being spoon fed the talking points.
The Democrats control the White House and the Senate.