How The Government Can Lend Directly To Small Businesses
Source: American Express
Unemployment is skyrocketing. Credit seems more scarce than gold (whose price, by the way - an historical indicator of investor pessimism - is currently near its all-time highpoint). Bankruptcies big and small are everywhere you look. This whole economy is a disaster area. Under this established Small Business Administration (SBA) program, eligible borrowers must demonstrate that they cannot secure credit via its "Normal lending channels". Given the state of the credit markets - and, for that matter, of SBA 7(a) loans - that shouldn't be difficult. They also may ask only for money that they would otherwise have were it not for the relevant "Disaster". Given the size of the current economic earthquake, that shouldn't be hard, either.