Right now, everything seems to be in a financial mess in our country. Ask any investor and they will say it is because the stock market is having enormous down swings, fuel and other prices keep rising, housing starts are low and corporate profits are poor. All of us know that we are still in the midst of one of the greatest economic crises to happen in modern times. It seems like there is just one thing after the other that keeps going wrong. This has many of us asking if there can ever be any good news for those who own small businesses.
Small business owners are wondering if there are new ways to expand, restructure, and still save money for their operations. Money experts always will advise that no matter what size business you may own, reorganizing and cost reduction is always the first thing to look at. Cutting costs and budgeting wisely will always help you save money and help maintain a solid financial strength in these difficult times. As you know, more and more small companies are suffering from the continuous economic decline and some say that there are even more possibilities coming up for further problems. All agree on one thing, more changes need to happen in the business world before any full economic recovery will really happen.
But what many of these disgruntled small business owners may or may not know is that just recently President Obama signed the Small Business Jobs Act, which allows small business owners to get better tax breaks and easier access to credit than ever before. These changes have excellent benefits for small businesses, because now corporate lenders will be able to make small business loans again. Consider the advantage of a commercial loan to improve and expand your business and then sit back and watch your success grow in leaps and bounds.
All of these latest laws have given small business a new chance in these uncertain times. These changes are a lifeline to the small business owner and clearly one more sign that small businesses are starting to sizzle. This new bill has just closed the deal for small businesses more than any other type of loan activity since the financial crisis began because new money is now available for lending. The SBA can offer new commercial loans and small business loans because the corporate lender now have more money available than ever and is more willing to work at winning the small business owner as their customer.
Catherine C. Harris is an author who specializes in commercial lending and has a passion for SBA loans.