Stimulus package for small business?

We have help for banks now. Why not help for small businesses and startups?

The senior senator of NY, Charles Schumer, has proposed a $700 million small-business stimulus plan.

The proposed program would help businesses in several ways including:

• waive bank service fees on loans
• give the Small Business Administration (SBA) more money for staff and loans
•  raise the limits on SBA and let the SBA offer loans for refinancing.

According to the Senator, the program would allow the SBA to help with up to $25 billion in “affordable” loans and generate about 700,000 jobs nationwide. The SBA doesn’t make loans but guarantees payment to a bank if a business defaults.

Schumer will be pushing his stimulus package in the Senate, after elections on November 4.

Do you think Senator Schumer is doing the right thing? Is a stimulus package needed? Should it involve the SBA?