Are you a small business owner struggling in the flailing economy? You, like many other small business owners, can get help as a result from the Small Business Financing and Investment Act of 2009.
Also known as the “Small Business Bailout Act,” this much-needed funding was a welcome relief to many business owners who watched as corporate giants such as AIG, JP Morgan, and dozens of national banks received billions in bailout funds. Now, $44 billion has become available for small business owners like you to help keep your business afloat and sustainable for the future.
How does this money help?
Loan Guarantees – You can apply for business loans with a guarantee from the Small Business Administration. With loan guarantees, you are more likely to get approval for loans from your bank or financing company. Get startup loans, micro-loans, and other low-interest loans that will put much-needed cash capital back into your business.
Save jobs – You now have access to capital to keep your business going without laying off workers. In times of economic trouble, companies tend to lay off employees in order to reduce expenses. However, how can your business grow when you have fewer workers? Keep your employees and help the unemployment rate through the funding allocated in the new act.
Government Grants – Apply for government grants that you do not have to pay back at all. Grants are available for your business to convert to “green” technology and sustainability, to make improvements to your community, for research, or even to hire and train new employees.
The new bailout for small business is about choices. The money set aside for this bill is a way for business owners to have better options of staying alive and fruitful in a troubled economy. The small business bailout money is expected to create or save 1.3 million jobs each year.
Don’t let your small business dwindle and fail due to the recession. Now small business owners have options. Get the financial help you need by talking to your local chapter of the SBA and applying for loans and grants that will sustain your business.