What American Recovery and Reinvestment Act Means to Small Businesses
Love it or hate it, the era of government stimulus has arrived. With the topic sparking hot debate across both party and class lines, becoming more informed about just what the American Recovery and Reinvestment Act will mean for small business on a local level's wise. Here is a brief recap of what small businesses can expect in terms of relief from the largest piece of public spending in the nation's history.
Within the bill are provisions aimed at helping the Small Business Administrations' (SBA) ability to provide more guaranteed loans and eliminate or reduce fees on a temporary basis. In addition, it gives the SBA the ability to issue back loans and loans with no payments for the first year.
In total, the stimulus provides $630 million with funding continuing until September 2010.