It’s about time! I’ve been searching for news about how the American Recovery and Reinvestment Act (ARRA) would benefit small businesses. Until now, it seemed the administration hadn’t been thinking about us. But today’s there’s word that tomorrow the President and Treasury Secretary will announce a series of initiatives to spur lending to small businesses. According to NY Times, the new measures will reduce SBA lending fees and “boost bank liquidity with more than $10 billion aimed at unfreezing the secondary credit market”.
Since small businesses are the largest creators of jobs in the economy, this can’t come too soon!