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SBA offering small loans to keep troubled firms afloat
February 24, 2009 /
The newly inked federal economic stimulus package offers only limited benefits for small businesses.
Of particular interest is the stimulus package’s $35,000 life preserver for small businesses drowning in red ink.
Under the law, the Small Business Administration temporarily will guarantee 100 percent of loans of up to $35,000 issued by banks to small businesses struggling to make payments on existing debt. The SBA will pay the interest on the loan, and small businesses will have a year before they must start repaying it.
Orlando Business Journal – by Christopher Boyd and Kent Hoover
Full Story: http://www.bizjournals.com/orlando/stories/2009/02/23/story1.html?b=1235365200^1781013&s=btr
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