Small Business Looks Forward to Obama's Rescue Plan

President-elect Obama promised a small business rescue plan during his campaign and for small businesses in the U.S., January 20 can't come soon enough. The plan calls for tax incentives and low-interest loans to be made available to small businesses to help them survive the current economic crisis. The frozen credit markets have dried up capital and put many small businesses in danger. They can't finance their inventory nor make their payrolls. Obama calls for an emergency lending facility run by the Small Business Administration to help struggling small businesses. The Obama plan asks the SBA to increase the guarantees it offers to banks that lend to small businesses and to eliminate the fees they charge lenders. The plan also asks that the SBA lend directly to Small Business through its Disaster Loan Program.