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Author Topic: Obama to unveil proposals to help small businesses  (Read 3585 times)

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Offline Strider

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Obama to unveil proposals to help small businesses
« on: March 15, 2009, 11:33:42 AM »
WASHINGTON (AP) -- The broad package of measures to be announced Monday includes $730 million from the stimulus plan that will immediately reduce small-business lending fees and increase the government guarantee on some Small Business Administration loans to 90 percent. The government also will take aggressive steps to boost bank liquidity with more than $10 billion aimed at unfreezing the secondary credit market, according to officials briefed on the plan who demanded anonymity to avoid pre-empting the president's announcement.

They come as Republicans have sought to build on some bipartisan misgivings over Obama's ambitious spending blueprint. In particular, Republicans say Obama's budget proposal to raise taxes, starting in 2011, on individuals earning more than $200,000 and on households earning more than $250,000 will hurt small businesses which face higher dividend taxes and limits on itemized deductions.

The administration's proposals to improve worker access to health care and address climate change also could add higher health and energy costs to small businesses. The Obama administration maintains that revenue from auctioning off carbon emission allowances would offset much of the higher energy costs for many Americans.

<snip>

The other measures are part of Geithner's financial stability plan that he announced on a broader level last month. They involve temporarily eliminating upfront fees of up to 3.75 percent and some processing charges on certain SBA loans that lenders typically pass along to borrowers. It also increases the government guarantees on certain loans to 90 percent, up from 85 percent for loans below $150,000 and 75 percent for larger loans.

http://finance.yahoo.com/news/Obama-to-unveil-proposals-to-apf-14643107.html
« Last Edit: March 15, 2009, 05:07:39 PM by Chris »
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Offline Strider

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Re: Obama to unveil proposals to help small businesses
« Reply #1 on: March 15, 2009, 11:35:45 AM »
News flash jug ears....
I am a small Business owner and I want profit, not debt. Esp. debt tied to the new Admin.
I dont need a loan I need lower taxes and fewer regulations
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Offline CC27

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Re: Obama to unveil proposals to help small businesses
« Reply #2 on: March 15, 2009, 12:34:04 PM »
Quote
government guarantee

That means i will pay for it.
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Offline Strider

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Re: Obama to unveil proposals to help small businesses
« Reply #3 on: March 15, 2009, 12:51:56 PM »
Quote from: CC27 on March 15, 2009, 12:34:04 PM
That means i will pay for it.
Thats right...we will.
Most borrowers of this money will be high risk.
From my perspective, viable small businesses already have a credit facility set up and if they are smart will not need a large risky loan in the current economic environment. I have a line of credit set up and will only tap into it if I can pay it back in the short term, ie. short term op. capitol or for short term equipment purchase if not I dont borrow. I think the majority of  businesses that will take advantage of this are the ones without available credit from the private sector
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Offline RightCoast

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Re: Obama to unveil proposals to help small businesses
« Reply #4 on: March 15, 2009, 01:30:06 PM »
So the headline should be: federal loans needed for small business to survive barack's tax increases
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Offline Jim

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Re: Obama to unveil proposals to help small businesses
« Reply #5 on: March 15, 2009, 02:18:20 PM »
not even a billion while acorn gets 3 billion.

this guy is a ****ing idiot.
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Offline Mr Mannn

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Re: Obama to unveil proposals to help small businesses
« Reply #6 on: March 15, 2009, 03:44:29 PM »
Not a single tax cut. Figures. Liberals don't do tax cuts.

OK, so loans are offered to small businesses. But we have cap and trade coming up and that will drive the cost of energy needed for production thru the roof! Plus, the cost of everything else goes up as well.

Excuse me, but what good is a loan when you can't make a profit or afford the rent?

Ya know, I think 0bama WANTS business to crash. Or rather let me say, his massah, George Soros wants American business to crash.
A prosperous nation has NO incentive to turn to communism, but a hurting, broken one will.
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Offline Crazy Horse

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Re: Obama to unveil proposals to help small businesses
« Reply #7 on: March 15, 2009, 05:19:52 PM »
Quote from: Strider on March 15, 2009, 11:35:45 AM
News flash jug ears....
I am a small Business owner and I want profit, not debt. Esp. debt tied to the new Admin.
I dont need a loan I need lower taxes and fewer regulations

Quiet you.............what jugs wants is okay and the best for all

Gawd ya'll are just so damn racist :mental:
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Offline Lacarnut

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Re: Obama to unveil proposals to help small businesses
« Reply #8 on: March 15, 2009, 05:23:25 PM »
Like a good liberal, Obama and the DC critters throw out a few crumbs and then whack you upside the head with new taxes. Lending money to small businesses on paper sounds good but will these loans be made to credit worthy businesses or will it be another catastrophe like the sub-prime mess. You can bet minorities will be looking for their allotted share; Barney Fag Frank will be screaming for affirmative action in lending.

Another idea being floating by Obama and his band of dimwits is the taxing of health benefits. This will hit businesses because it will not only increase the gross income on individuals but will have the effect of increasing matching S.S. payments by businesses.  
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Offline NHSparky

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Re: Obama to unveil proposals to help small businesses
« Reply #9 on: March 15, 2009, 05:43:58 PM »
$730 million for those who provide:

--2/3 of the GDP
--96 percent of new job growth/creation.

Meanwhile, AIG gets another $50 BILLION, the automakers have their hands out for ANOTHER $30 BILLION, because they're, "too big to fail."

**** 'em.  **** Obama and his ass-clown buddies.
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Offline rich_t

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Re: Obama to unveil proposals to help small businesses
« Reply #10 on: March 15, 2009, 08:24:10 PM »
Quote from: NHSparky on March 15, 2009, 05:43:58 PM
$730 million for those who provide:

--2/3 of the GDP
--96 percent of new job growth/creation.

Meanwhile, AIG gets another $50 BILLION, the automakers have their hands out for ANOTHER $30 BILLION, because they're, "too big to fail."

**** 'em.  **** Obama and his ass-clown buddies.

H5
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Offline DumbAss Tanker

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Re: Obama to unveil proposals to help small businesses
« Reply #11 on: March 15, 2009, 11:00:14 PM »
SBA loan guarantees raised.  Big woop.  A lot of disadvantaged/minority-or-women-owned businesses that are uncapitalized, couldn't get commercial financing, and 90% of which will go tits up in a year, unless they get set-aside contracts from the government.  Frickin' wonderful.
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Offline RobJohnson

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Re: Obama to unveil proposals to help small businesses
« Reply #12 on: March 15, 2009, 11:06:26 PM »
This is great news! We need more Quick E Marts!
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Offline Tess

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Re: Obama to unveil proposals to help small businesses
« Reply #13 on: March 16, 2009, 02:10:21 PM »
Quote from: Strider on March 15, 2009, 11:35:45 AM
News flash jug ears....
I am a small Business owner and I want profit, not debt. Esp. debt tied to the new Admin.
I dont need a loan I need lower taxes and fewer regulations

I'll just ditto what you said. 

Too little too late.  I don't want a friggin loan.  I want to be able to run my business without being taxed up the wazoo. 
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Offline NHSparky

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Re: Obama to unveil proposals to help small businesses
« Reply #14 on: March 16, 2009, 02:30:12 PM »
Quote from: Tess on March 16, 2009, 02:10:21 PM
I want to be able to run my business without being taxed up the wazoo. 

Ain't gonna happen under the Zero.
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Offline Tess

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Re: Obama to unveil proposals to help small businesses
« Reply #15 on: March 16, 2009, 04:32:15 PM »
Quote from: NHSparky on March 16, 2009, 02:30:12 PM
Ain't gonna happen under the Zero.

I know.  Which is why I told my husband we need to seriously look into off-shore accounts.  LOL  Yeahi'mnotreallykidding.
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Tact is for people who aren't witty enough to be sarcastic.

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Offline NHSparky

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Re: Obama to unveil proposals to help small businesses
« Reply #16 on: March 16, 2009, 08:36:32 PM »
Quote from: Tess on March 16, 2009, 04:32:15 PM
I know.  Which is why I told my husband we need to seriously look into off-shore accounts.  LOL  Yeahi'mnotreallykidding.

Which is why I don't blame people who have money keeping it.  I understand that even us "evil conservatives" know that money earned here does more good when it's SPENT here.

Too bad the government hasn't realized that yet.
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Offline Vagabond

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Re: Obama to unveil proposals to help small businesses
« Reply #17 on: March 16, 2009, 11:26:55 PM »
Quote from: Strider on March 15, 2009, 12:51:56 PM
Thats right...we will.
Most borrowers of this money will be high risk.
From my perspective, viable small businesses already have a credit facility set up and if they are smart will not need a large risky loan in the current economic environment. I have a line of credit set up and will only tap into it if I can pay it back in the short term, ie. short term op. capitol or for short term equipment purchase if not I dont borrow. I think the majority of  businesses that will take advantage of this are the ones without available credit from the private sector
In other words, the businesses that would be the least likely to pay back will be the ones to receive these loans.
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