Obama May Help Small Businesses

It seems as if money from the $700 billion bailout fund has gone toward everything from tattoo removal to fruit fly research, but now, President Obama and his administration may decide to lend a portion of the bailout pie to small businesses. Small businesses employ the majority of Americans, but the recession has sent many of them spiraling toward bankruptcy.
 
Nothing concrete is on the table yet, as administration officials confirmed today that any small business bailout only exists in talks for now. Officials quickly made it clear, though, that the White House is working with the Small Business Administration to work out some sort of solution and that it is in touch with the problems that small businesses in America face.
 
One of the ideas that has been discussed within the administration involves a program that would incentivize banks to lend at lower interest rates to small businesses. Other ideas focus around the theme of providing direct assistance to small businesses that have been specifically harmed by the credit crisis, and not just struggling businesses in general.

National Small Business Week (Image: Flickr)