Small Business Inc. employs about 60 million people, accounts for 70 percent of new jobs each year, and clearly represents the backbone of almost every regional and local economy. For this vital industry, the administration has allocated less than 1 percent ($700 million earmarked vs. $1 trillion in proposals). The nation’s leaders continue the small business program of the Bush years: talk a lot and do practically nothing.”

We at Financing.org are not waiting around for the government stimulus and have a business financing program that is available today. If you are a start up or looking for short-term working capital needs, we can get you $25k to $100k or more in less than 45 days. We are SBA certified and when the SBA does reopen their wallets we can position your business to be better able to compete for this limited government backed funding.

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President Barack Obama will require banks to boost lending to consumers and companies in return for taxpayer aid from the $700 billion bailout fund, in a departure from Bush administration policy, a key lawmaker said.

“You’re going to see the Obama administration,” learning lessons from the first phase of the program, “push for much more lending,” House Financial Services Committee Chairman Barney Frank, who helped write the financial-rescue law, said yesterday on ABC television’s This Week program. “There are going to be some real rules in there.”

Here at Financing.org we believe that this is a clear message from the new administration to the banks as well as business that action on a grand scale is needed to restart the US economy and one of the key components is to have much of the remaining TARP funds earmarked for business in the form of credit lines and loans. Whether you have an existing business or a startup, now is the moment to move your business financing forward.

Read the rest of this story here at Bloomberg.

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At least it does to Michael McDonald, who is trying to open a coffee shop near UC Santa Barbara next month but just heard that his funding had evaporated for an equipment leasing deal. McDonald needs the espresso maker and other gear in place in two weeks so he can train the first employees for the Zizzo’s Coffee franchise.

“This story is one that is repeated hundreds if not thousands times a day. If you are waiting for a government hand you may be playing a game of chicken with your small business funding”, said Howard Witkin, CEO of Financing.org. “There is no need to wait, Financing.org has sources that can $25-100k in business credit in your hands in as little as 45 days. If you put off your decision and hope for the best you will miss the boat and sink any chance of making it through the current economic tempest”, he added.

“If I don’t get my funding, those are 15 or 20 people who are not going to have work,” said the Goleta resident, recounting his third brush with the credit crisis.

McDonald was squeezed this year when his bank cut off the home equity credit line he was using to help fund his start-up. He had looked into a conventional business loan but found most banks weren’t interested in new businesses, requiring at least two years of operations. And the cost of the money was too high, he said, despite his good credit.

McDonald is just the kind of borrower the federal government hopes to help by its announcement last week that it would make loans more plentiful for small-business owners.

The program, part of the $800-billion credit-loosening initiative unveiled Tuesday by Treasury Secretary Henry M. Paulson, covers certain loans backed by the Small Business Administration, as well as consumer borrowing such as credit cards, auto loans and student loans.

Paulson said $20 billion would be used as credit protection for as much as $200 billion in federal lending.

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The Fed said Tuesday that the programs, originally slated to last through Jan. 30, will be extended through April 30. The Fed said it was taking the action “in light of continuing strains in financial markets.”
The Federal Reserve has gone to extreme lengths to free up credit markets that have impacted the US economy. One direct result of this action has been that in the past 30 days banks and other lending institutions have increased credit based lending to small businesses.
“It is clear that policy makers are taking steps to help small business get access to credit based funding and are focused on this segment of the economy.” Said CEO of Financing.org, Howard Witkin “We have been dealing with this problem for the past 12 months, but credit based funding is still available for both startups and established business, and the government is dedicated to see that Main Street is not left behind”, he added.
To read more on this topic check out money.aol.com/news

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