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Feds Suspend Small Business Loan Program

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posted on Jan, 13 2004 @ 07:23 PM
January 7, 2004 - The SBA program, which fuels small business, which employ the majority of workers in the US, has not had its budget passed. It's been running at 2002 spending levels.

"The move is "the Bush administration's latest attempts to gut this critical program," said Rep. Nydia Velazquez of New York, senior Democrat on the House Small Business Committee. "As the economy struggles to create jobs, now is not the time to cut off small businesses from access to capital."

posted on Jan, 13 2004 @ 08:34 PM
Here's another dirty secret of the Bush Administration. They conveniently changed the definition of a "small business" to accommodate MUCH LARGER companies. Can't remember the details but the point is simple. Bush has done VERY LITTLE for main street. His only saving grace from this vantage point is the Section 179 allowance increase for new equipment.

posted on Jan, 13 2004 @ 08:38 PM
First let me start by saying good Post

I think that it is crying shame that this has been suspended. We wouldnt be running out of money for the small businesses if the U.S. wasnt granting so much of the small business loans to foreigners to start businesses, not only does that consume a large portion of the money but they are also tax exempt for five years, so how do they get by with never paying taxes, well heres the trick. Most foreign owned businesses are family owned so when the 5 year mark is close they sign the business over to a relative........which means another 5 years of being tax exempt.
I wish this worked for Existing Americans as well.
****now I am not saying all foreigners shouldnt have the loans, we have alot of foreigners here that have grown up here or are very hard working people and help the economy a great deal, I mean the foreigners that just become americans that get all the benifets that the rest should have and now cannot get****

Dont mean to offend anyone, if I did I am sorry. Just stating my opinions thats all

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