Thursday, December 03, 2009

Cutbacks and Loan Offers

I as was going through my morning reading yesterday I came across two articles that may be good news for many small business owners. The first is hopefully a sign that the small business economy is on the way back to recovering. According to a report by ADP, small businesses are still slashing jobs, but they are at a smaller rate. The economy may be on the rebound for Wall Street, but as unemployment numbers continue to climb, the recovery takes a little more time to affect the small business owner. Since the rate of job cuts for small businesses is going down somewhat, this may be a good sign that small business owners can again be productive in the coming months.

Another article is sure to assist small business owners in the recovery, the only problem is many small business owners don’t even know about this new program. A recent survey by the George S. May International consulting firm indicated that over 75% of small businesses were not aware of the new SBA loan programs that were included in the American Recovery and Reinvestment Act. The ARC (American Recovery Captial) loan program allows small businesses deferred payment loans up to $35,000. The only problem is many small businesses had no clue about the program. This may be a good time for those small businesses that need assistance to stop by your local SBA office and investigate securing one of these loans. Now that you know about the loans, there is no reason to miss out on the program.

B. N. S.

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