Senate wants to lend $30 Billion (US) to Small Businesses
From Bloomberg Businessweek Senate Clears Way for $30 Billion Small Business Fund So let me get this straight. Let's say I have a small business, I am in dire straights, cashflow-wise, and I need money. My credit cards are maxed, uncashed paychecks sit in my safe and my three employees leave early on payday to make sure their check gets in the bank that day. I am going to go down to my local hometown bank, sit down in front of the friendly loan officer and say "Hi. I would like to borrow $100,000 dollars from that cool $30,000,000,000 fund that the government has set up for small businesses that need funding." How is that conversation going to go? I have a house that is still 20 years from being paid off and it has a second mortgage based on its inflated valuation in 2007, so I have -$45,000 in equity. I am the guy that needs the money. Anybody out there think I am going to get it? Especially if I am a healthy white male? (No, not a white whale... a white male .) Memo to...