How Can the 2009 Economic Recovery Act Help Your Small Business

There is much debate around whether the 2009 Economic Recovery Act really contains provisions that will help small business, as it focuses on expanding access to loans at a time when many small businesses are not in borrowing mode.

However, if access to capital is a concern for a start-up or existing small business, then the Recovery Act does indeed provide help. Three key changes in SBA loan programs make it more likely and less expensive for small businesses to obtain loans:

• The SBA will now guarantee 90% of 7(a) loans, reducing lender risk
• The SBA has reduced or eliminated fees on 7(a) and 504 loans
• The SBA has temporarily increased the size of businesses that can qualify for SBA loan programs

To get the details, visit the SBA Recovery Information Center

You’ll find press releases describing new programs and policy, as well as fact sheets on policy changes and program details. Be sure to listen to the “How the Recovery Act Helps Small Business” podcast.