Small Business Lending Bill – What comes next
Today President Obama signed a bill to provide $42 billion in loan incentives and tax cuts for small-businesses.
“It was critical that we cut taxes and make more loans available to entrepreneurs,” Obama said. “So today after a long and tough fight, I am signing a small business jobs bill that does exactly that.”
Obama first proposed the bill in January, but the legislation was stonewalled by deficit hawks. The House passed the legislation last week in a 237-187 vote with just one Republican, Rep. Walter Jones, of North Carolina, joining the majority; the Senate passed the bill in a 61-38 vote on Monday with two Republican senators, George Voinovich, of Ohio, and George LeMieux, of Florida, joining the majority.
(read the whole article on The Street )…
Now to add something interesting – I have been contacted by two Banking institutions already today to move forward on Machinery Appraisals here in Indiana that have been waiting on this bill to pass. It amazes me and I am glad for the fact that Banks are seeing this as positive momentum. Over the past 2 months I have also seen several banks in the area starting to open up more funding for local small business even before this bill passed.
Its too early to say if this is a shift to easier loan acquisition for small businesses owners desperately in need of capitol for growth – but its definitely a step in the right direction.
Nathan Bazzle, CMEA, CSBA
certifiedconsultinggroup
Nathan
Provides Certified Machinery and Equipment Appraisals and Business Valuations in the Southern
Indiana Area. To see more information on this topic or to contact Nathan
Directly visit www.CertifiedconsultingGroup.com
