If you've had a business plan in the wings for awhile, according to Bloomberg Business Week, now is the time to start moving into the financing phase of your new business.
According to the President in his State of the Union Address, a $30 Billion fund is in place to encourage small business lending. Supposedly banks will lend $10 for every $1 they receive. I remember when the most recent TARP was first established we heard that money was there for small businesses. But all I heard from would-be entrepreneurs was that they could not get financing for any size start up.
Let's hope this incentive is smart and works. Without small business, this country would be in even more serious trouble (if you can imagine that).
Here's the link to the Bloomberg article in today's issue: http://www.businessweek.com/smallbiz/content/jan2011/sb20110124_049675.htm
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