Tuesday, February 23, 2010

YES, THERE WAS HELP FOR SMALL BUSINESSES IN THE STIMULUS BILL

According to this CNN Money story, "Small biz lending stimulus runs dry -- again," the Small Business Administration got a total of $500 million to promote loans to small businesses and the money is now almost gone. Here's one indication of how successful the program was:
More than 1,000 banks had not made an SBA loan since 2007 have done so since the Recovery Act took effect a year ago, according to the SBA.

Of course, the Wall Street banksters weren't much help at all:
The nation's biggest banks continue to shy away from making loans to small businesses: 11 major banks shaved $2.3 billion off their collective small business loan balance in December, according to a Treasury report released last week.

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