Feb 01, · The Lowdown on Obama's Small Business Plan The president is right that current rules make it very hard for growing businesses to raise money. Will business pays $15, per year for health insurance on 20 employees, Obama ¶s plan would give you a Small Business Health Credit of $7, Obama¶s Small Business Health Tax Credit will work alongside other aspects of his health care plan to lower costs and improve competitiveness for America ¶s small businesses, including: Access to a Low-cost National Health Exchange:[LK3]The Obama Aug 03, · From the beginning, it has been evident that Obama has made bolstering small business a key component of his massive economic agenda that Estimated Reading Time: 12 mins
Obama's small business rescue plan: The details - Oct. 10,
com -- Democratic presidential candidate Barack Obama on Friday proposed emergency assistance for small obamas business plan endangered by America's financial crisis, calling for a obamas business plan business rescue plan" of tax incentives and loans.
But we also know that a credit crunch has dried up capital and put these jobs at risk - shops can't finance their inventories, and small firms can't make payroll," Obama said at a rally in Chillicothe, Ohio. Obama's campaign platform already featured pledges aimed at small businesses, including proposals for eliminating capital gains tax on gains from investments in startups and for a tax credit for businesses that offer workers health care. What's new is his call for an emergency lending facility run by the Small Business Administration to shore up struggling companies imperiled by the credit crunch.
A paper detailing Obama's proposed "Small Business Emergency Rescue Plan," released by his campaign on Friday, expands on the remarks Obama made in Chillicothe.
Obama's new plan calls for the SBA's loan guarantee programs to temporarily eliminate the fees obamas business plan charge lenders, and for the agency to increase the guarantees it offers to banks that lend to qualifying small companies. Additionally, he wants the SBA to expand its facility for directly lending money to small companies through its Disaster Loan Program. The SBA Disaster Loan Program usually assists businesses affected by natural disasters: Its recent disaster declarations have covered floods, wildfires and an earthquake.
But the program does occasionally offer loans to help with nontraditional disasters. For example, it offers loans to companies unable to meet operating expenses because an essential employee who serves in the military reserves has been called up to active duty.
Those are lower interest rates and longer terms than are offered through the SBA's much bigger and better known 7 a loan program. Also, the SBA directly funds its disaster loans; under the 7 a program, obamas business plan, businesses need to secure loans from banks, obamas business plan, with the SBA offering a guarantee for part of the loan. The Disaster Loan Program is significantly smaller than the 7 a program.
Obama compared his "rescue plan" to steps the government took after Sept. The government's primary small business relief program after Sept. That STAR program reduced the fees paid by lenders who made SBA-backed 7 a loans to companies adversely affected by the terrorist attacks, and set aside a special pool of cash to fund STAR loans. But the STAR program later drew widespread criticism for its flawed structure and insufficient oversight. A review found that many of the loans went to obamas business plan with little apparent connection to the terrorist attacks in Washington, D.
and New York City. Recipients included a Nevada tanning salon, a liquor store in Georgia and a golf course in Texas. Auditors pinned the blame not on the companies, obamas business plan, many of which were unaware they'd been given loans categorized as STAR loans, but on weak SBA supervision of obamas business plan lenders implemented the program.
An Obama campaign spokesman said Obama's program would not be susceptible to the ills that plagued the STAR program because it would have much broader eligibility requirements. Unlike the Sept. Obama's plan relies on lower fees and higher guarantees to entice banks to open their vaults and lend more cash. But it's unclear if those inducements would make a difference. As financial conditions worsen, banks have grown more reluctant to offer financing to small companies.
As global financial markets continued roiling over the past few weeks, financial institutions clamped down further on their lending. Obama's proposal also calls for more direct lending through the SBA's Disaster Loan Program. That program has a flexible budget, obamas business plan, and the SBA consistently gets as much money for it as it requests from Congress.
But a rash of disaster-loan requests could overwhelm the SBA; after Hurricane Katrina, the agency staggered to keep up with an onslaught of more thandisaster applications. The SBA has since drafted new plans for dealing with a major nationwide disaster, training reserve staffers and strengthening its technology systems.
So far, the SBA's new disaster readiness capacity has not been tested. If the financial crisis continues spreading and Congress heeds Obama's call, the agency and Acting Administrator Sandy Baruah, who joined the SBA three months ago, would face a dramatic test of their readiness to step in and shore up thousands of the nation's struggling small businesses.
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Your Money: McCain vs. View guide. Candidates call for regulation, obamas business plan. Quick Vote. or View results. FIRST DAYS. Deficit: Just too damn big. Small biz credit crunch: In their own words. View photos. What do you think of Obama's rescue plan? Have obamas business plan say. Credit crunch freezes hiring, expansion Entrepreneurs look to candidates for health care reform Who will get the entrepreneur vote? The estate obamas business plan McCain vs. Making cake in a sour economy.
The Cheesecake Factory created smaller portions to survive the downturn. Dream factory. An old Detroit car plant has become a creative hive for upstart businesses. Hemp king returns. A breeder of award-winning marijuana seeds is following the money and heading to obamas business plan U. Training to quit. Derek Christian pays to train his employees for new careers. Obamas business plan of the Amish.
Franchise data. The 10 most popular franchise brands over the past decade -- and their failure rates, obamas business plan. These firms are the last left in America making iconic products now in their twilight.
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com Comment Policy. View our privacy policy CNNMoney. Classroom vs. My dream is to launch my own business someday, obamas business plan. Now that it's time to choose a major, obamas business plan, I'm debating if I should major in entrepreneurial studies or major in engineering to acquire a set of skills first.
Is majoring in entrepreneurship a good choice? Topics: EducationStartup. Small Business From CNNMoney. South Africa's first black female winemaker ready to go it alone Want to clean up India? Turn trash into free Wi-Fi Drones, robots, DIY toys shine at Toy Fair Trump refuses to be a Bleacher Creature She's recycling CO2 to reduce oil dependence He just pitched to Richard Branson and won! More Small Business. Next Little Thing Wireless obamas business plan and a mind-reading headset.
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, time: 3:26Altman: Obama's Business Plan - The New York Times
Feb 01, · The Lowdown on Obama's Small Business Plan The president is right that current rules make it very hard for growing businesses to raise money. Will Jul 19, · Altman: Obama’s Business Plan. By Dealbook. July 19, am. July 19, am. From Roger C. Altman, an investment banker and a former deputy secretary of the Treasury, writing in The New York Times’s Op/Ed Pages: Just as Congress finally passed its sweeping financial reform bill last week, a chorus of high-profile chief executives and business lobbying groups were Estimated Reading Time: 6 mins business pays $15, per year for health insurance on 20 employees, Obama ¶s plan would give you a Small Business Health Credit of $7, Obama¶s Small Business Health Tax Credit will work alongside other aspects of his health care plan to lower costs and improve competitiveness for America ¶s small businesses, including: Access to a Low-cost National Health Exchange:[LK3]The Obama
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