Federal loan money heading to small businesses

[cal04]

Source: LA Times

Money for loans backed by the Small Business Administration that could be used for hiring and expansion had been delayed for weeks in Congress. Some firms could start receiving funds as soon as Monday.

After months of frustration and delays, small-business owners in Southern California are finally getting long-awaited loans to hire new workers and expand their operations.

Money for loans backed by the Small Business Administration, but held up for weeks in Congress, is on its way. Just days after President Obama signed a $30-billion-plus package of incentives for small businesses, Southland bankers, bureaucrats and borrowers are scrambling to nail down the final details and get the money flowing.

Business owners were told by lenders that some could begin receiving their money as soon as Monday.

Read more: http://www.latimes.com/business/la-fi-1002-sba-loans-flowing-20101002,0,1231383.story

[sueh]

1. Good news for the small manufacturing plant I work at.

[lamp_shade]

2. So good that this begins "within days" of the bill passing. Not 6 months, not next year, not 2014.

The SBA was ready and waiting. This is great.

[Kringle]

3. businesses need more customers, not more debt ,nt