Senate touts commitment to small businesses

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Senate touts commitment to small businesses

By Staff
Capital Solutions Bancorp
May 19, 2009

Some small businesses and industry advocates have voiced frustration with the Obama administration's perceived inattention to the needs of small businesses around the country - particularly those struggling to manage cash flow and secure new government funded projects.

The American Small Business League is one small business advocate group that has made its concerns known - saying that stimulus funds were geared too much toward large corporations and that big companies may now be able to vie for contracts intended for small firms.

Many small businesses have turned to alternative lenders during the financial crisis when lines of credit were cut at traditional banks.

But a new statement from the Democratic Policy Committee reviews the work the Democratic-led Senate has done to benefit small businesses as well as the steps that are planned for the future.

Among their actions, says the Democratic Policy Committee, is a boost in funding for the Small Business Administration in the 2010 budget after the group had experienced cuts over the last few years.

The group also says it has made funds available to support even the smallest businesses with microloans.





Source:  http://capitalsolutionsbancorp.com/news/senate-touts-commitment-to-small-businesses-20090519

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