Posted on 10/01/2009 9:48:23 PM PDT by TigerLikesRooster
A grim year for small business lending
The SBA loan volume plunged 36% in 2009 as banks slammed their vaults shut to small businesses. By Catherine Clifford, CNNMoney.com staff reporter
October 1, 2009: 6:02 PM ET
NEW YORK (CNNMoney.com) -- Here's a telling statistic about the toll the recession is taking on Main Street: This year, the government's top small business lending program got loans to 25,000 fewer entrepreneurs than it did last year.
In its 2009 fiscal year, which ended Wednesday, the Small Business Administration backed 44,221 loans from banks to help borrowers start and expand their businesses. That's 36% fewer loans than the SBA's 7(a) loan program made in 2008
(Excerpt) Read more at money.cnn.com ...
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porkulus ruined my life!
not a good time to take any risks.
The RacistInChief has declared war on the productive.
Why bother?
The American Dream is in a downward spiral.
Who in thei right minds would want to start a small business in this climate?
Laid-off workers. Dissatisfied employees. Capitalists. Heroes.
The heroes would be the ones trying not to prop up this miserable government.
The fact is this government is unpredictable, the laws are ignored and made up at a whim. You can’t do business that way.
Yet business is done.
Less and less business is being done. The more interference the more it will hurt the economy.
It is much easier to control a few large enterprises (Fannie, Freddie, GM, AIG, health insurance, etc.).
yitbos
This is true.
Obama, Rahm ('never waste a good crisis") Emmanuel, Nancy Pelosi and Harry Reid want to hurt the economy...that's why they're interfering. It's their one shot at fulfilling their most far-reaching political ambitions.
Business startups are a bulwark against socialism. Any left-leaning former employee who attempts to start his own business will be a staunch conservative within two years.
Business breeds capitalists.
Pol Pot just exterminated them, and anyone who could read.
Mao sent them to the farm.
Neo-Marxists today eliminate the bourgeois by myriad regulations. In Europe there are virtually no new small businesses. The bourgeois businesses are inherited or the entrepreneur replacements are selected by the state.
EUSSR = the state decides who gets to participate in the state run capitalism.
yitbos
Marxine Waters let the Marxism out of the bag in committee when questioning/interrogating the energy company CEOs. "I'd just nationalize, er, regulate them."
yitbos
“The Marxist playbook eliminates the small businessman/entrepreneur/capitalist (petit bourgeois) and gives that buisness to the conglomerate.
It is much easier to control a few large enterprises (Fannie, Freddie, GM, AIG, health insurance, etc.).”
Bingo. Right on the money (pardon the pun). The Obamamarxist strikes again.
All loans have tightened up considerably.
It used to be that if you applied for a home loan your mortgage company could crunch the numbers and tell you you need more income or if you are a business they’d say: “Look I am pretty sure you exaggerated your expenses to lower your taxes, why don’t you redo this to show $25,000 more in income by lowering your costs”.
Now your app gets sent to the Feds that insure it and it comes back yes or no with no further investigation of the reasons possible.
The Feds are now running the mortgage industry, higher education through the school loans, most of the auto industry and they are trying to take over the healthcare industry.
yitbos
Pol Pot just exterminated them, and anyone who could read.
“Mao sent them to the farm.
Neo-Marxists today eliminate the bourgeois by myriad regulations. In Europe there are virtually no new small businesses. The bourgeois businesses are inherited or the entrepreneur replacements are selected by the state.
EUSSR = the state decides who gets to participate in the state run capitalism.”
Dead on again Yitbos. You’re on a roll here. Keep the insights up in terms that we petit bourgeois can understand.
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