|
What's in the Stimulus for Margate Business?
• SBA-backed loans, low-interest relief
Tuesday,
March 3, 2009
Obama’s American Recovery and Reinvestment Act (the Stimulus) allocates roughly $20 billion to the SBA (Small Business Administration) to lend to American small business. Relief will come in the form of fee reductions for existing SBA loans, higher SBA guarantee limits and help with existing debt payments. SBA loan expansions include grants for technology, more funding to the microloan program and a build-out of the SBA’s flagship 7(a) and 504 loan programs for hard assets like real estate.
What loan programs are available?
For those of you who purchased hard assets in tax year 2008, the SBA has devised a tax depreciation calculator to significantly boost first-year depreciation. Quick loans are available to ongoing concerns to pay down existing debt, and enhanced micro lending initiatives focus on businesses with fewer than 10 employees looking to borrow less than $35,000.
How do I get this money?
This depends primarily on what SBA-backed lenders in our area are going to make available to Margate business. The Margate Chamber is in the process of reaching out to member financial institutions to find out who has SBA programs in place for Margate business.
If you’re a lender and are SBA friendly, please contact Cassius Group at 954-729-6164 as part of an effort to aid the Margate Chamber of Commerce in setting up a fast track for qualified Margate business looking to access SBA-backed stimulus funds. Please don’t delay. Margate business needs your help now.
__________________________________________
Get MargateNews.net on your desktop, laptop or mobile Internet with customizable RSS (Real Simple Syndication) Feeds. Receive all the news, or just some of it, as soon as it’s published! Sign up now.
Access the wireless version of this website by visiting http://www.margatenews.net/margatenews/wireless with your WAP (Wireless Access Protocol) Internet-enabled wireless device.
Copyright 2009 Cassius Group Inc.
| 
