The Obama administration is committing $15 billion to encourage
lenders to make more money available to entrepreneurs to start,
operate or grow their businesses. The $15 billion is
intended to encourage new lending to small businesses and will
be used to purchase newly issued securities.
In addition, the Obama administration plans to:
- Increase loan guarantees for
small business to 90 percent of the loan value to encourage banks
and other lenders to extend credit.
- Waive Small Business Administration loan fees.
- Require banks that received federal bailout money
to report each month how much small-business lending they did.
The information is reported
Is your bank receiving bailout money? Search by date,
financial institution, city, state, and amount
The Business Plan Store will get you ready to apply for funding
with your own personalized, professional business plan.
We have been writing business
plans for more than ten years helping entrepreneurs and small businesses
launch new and expand existing businesses. This administration
initiative will spawn thousands of new businesses. Will yours be one of them? We can help
you get started with your business plan today.