President Obama indicated yesterday that he will use funds from the Troubled Asset Relief program (TARP) to offer financial aid to small businesses as part of an effort to spur jobs.
The TARP funds, also known as the federal bailout, were originally intended to bolster large banks banks struggling under the weight of bad investments, but [...]
Goldman Sachs will give $300 million to community development financial institutions (CDFIs) to spur expansion of small-businesses. The program, “10,000 Small Businesses,”will also provide mentoring, business management education, growth capital and technical assistance to small businesses.
Seedco Financial Services in New York will be the first CDFI to receive funds from Goldman Sachs.
Warren Buffet, CEO of [...]
Miami Herald: Unemployment likely will remain high for the next several years because the economic recovery won’t be strong enough to spur robust hiring, Federal Reserve officials warned Tuesday.
…rising unemployment could crimp consumers, restraining the recovery. Consumer spending accounts for about 70 percent of economic activity.
“With such a slow rebound, unemployment could well stay high [...]
The Labor Department’s Job Openings and Labor Turnover Survey, released yesterday, showed that the number of new, open positions increased slightly in August and September.
The number of unfilled positions rose 57,000 (or about 2 percent) to 2.48 million, according to the Bureau of Labor Statistics (BLS) report. Openings remain down by 2.3 million, or 48 [...]
Businesses are beginning to hire again, and some managers and business owners foresee a race to hire before the recovery gets into full swing and talent gets expensive again.
Small businesses may be especially well positioned to take advantage of the trend as they see the recession as an opportunity to hire talent they wouldn’t otherwise [...]
To ensure the tentative economic recovery becomes a lasting expansion, the Obama administration must focus on helping small businesses hire again.
The Gross Domestic Product (GDP) is back on the rise, and the pace of job losses has slowed. However, businesses are not hiring yet, and the government is doing too little to support small businesses, [...]
President Obama Wednesday introduced a plan to help get more credit flowing for small business and help businesses with fewer than 200 employees climb out of the recession and begin hiring again.
Under the latest Obama plan, community banks with less than $1 billion in assets will be able to borrow from the Treasury Department’s Troubled [...]
Small and medium-sized businesses, which employ more than half the American workforce, will face tight credit markets and limited access to loans well into 2010, the Federal Reserve Board said Monday.
Economists fear the struggle to access cash could force many to close shop or limit expansion, a daunting prospect as businesses with 500 or fewer [...]
The Small Business Administration dragged an old trick out of the Carter Administration closet: SBA guarantees to cover floor-plan financing at care dealerships and others who sell expensive products.
Under the financing program, the SBA will offer government-backed loans to finance inventories at the locations and keep workers employed. The plan is to let dealers borrow [...]