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Wednesday, August 22, 2012

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Obama Small Company Loans - Details in the Rescue Policy For small Businesses The fury on the $300 billion of TARP money going to large s continues to be some simmering within the minds of most Americans. To say this monumental giveaway program was unpopular is really a euphemism. Needless to say big s have achieved well deserved disrespect as a result. But what about small community s? Many of which did not receive a dime of TARP monies and are more likely to loan to small businesses. With this in mind Obama recently unveiled his new Rescue Plan for small business owners at the town meeting in New Hampshire. Let us examine some of those details to see whether it will deliver needed loan monies to your struggling 28 million small businesses. First the facts. $30 billion is being made open to small community s funded with the money recently received in payback from large s who received TARP money. In other words money from big s recycled to small s. Although it certainly seemed so the federal government was not just offering money under TARP. It invested in the big s who pay it back. And se many s had it crammed down their throats they are already much too desperate to repay and free themselves in the Federal regulations--baggage that came along with it. Bottom line. Can small business owners look to receiving loans now readily available community s which haven't been very willing to do so in the past? Without sounding just like a politician the answer is "yes" and "no". I have good news and bad news. The bad news is it will require a little while for such an initiative being enacted along with the money to begin on flowing. The good news: there are some s today that are lending even without this program. We needs to be aware of the existing loan program that is working quite nicely without this new initiative. Believe it or not there is a loan program out there and lenders are in fact making loans currently: the Community Express Loan Program. This gives unsecured small enterprise loans between $5000 and $50000 with hardly any paperwork answers typically in two days interest levels presently at 7.75% funding and a couple weeks and monies wired directly for a business account. There are lenders participating on this program right now. If you eventually be a small business owner I may not hold my breath while this money starts flowing from your Federal government pipeline. In the meantime make your application to community express lenders that are loaning currently. - geoff davis payday loans military


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