John Hurd’s latest ‘e-Wealth Daily’ article is titled “The Government Listens to a Nobel Prize Winner; You Benefit”. [‘e-Wealth Daily’ Article]


John Hurd’s latest ‘e-Wealth Daily’ article:

The Government Listens to a Nobel Prize Winner; You Benefit

There’s a big idea that won Muhammad Yunus the Nobel Prize in 2006. His idea was to start offering microloans to entrepreneurs who were often too poor to qualify for traditional bank loans. His program has found success in struggling countries, and it is now making its way to American shores.

As part of the new stimulus law, a quarter of a billion dollars is to be allocated for the Small Business Association’s emergency microloan program. That’s a lot of money, and here’s how it could help you.

Stimulating the economy and helping entrepreneurs don’t just mean getting more people to open their own businesses. When we already have a lot of people with struggling small businesses, there also needs to be help for them. Surviving as the economy tightens and customer bases and income begin to shrink is a big problem facing many people right now.

This new program allows small business owners who already have a bank loan to apply for microloans of up to $35,000. This money is 100% guaranteed by the Small Business Association (SBA), although still administered through a bank. While in repayment, the SBA will fully subsidize the interest charged.

This means that businesses with existing loans can essentially apply for a free loan of $35,000 to pay off existing high interest debt or to help stimulate their business without seeing their profits sucked away by interest charges.

This is certainly a step in the right direction for the SBA. You see; just because a business is struggling right now doesn’t mean that it is doomed to failure. Convincing investors, who may already be losing their shirts on the stock market, to loan you the cash is becoming more and more difficult (although not impossible). What we are seeing here is a show of confidence in the American entrepreneurial spirit backed by the government.

And, while you may not have your own business at the moment, doesn’t this just help you get over a few of the fears that your business could struggle during hard times? Only time will tell if this new plan is what we need to get over this financial turmoil, but it is reassuring to the see wheels in motion for entrepreneurs when they need help the most.

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The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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