Job Creation Needed—Is Small Business Lending Helping?

Jobs are needed in our country: plain and simple.  While many tout that there are numerous companies hiring, there are far more men and women looking for a job than there are positions available.  While there has been the call for small businesses to open up their hiring practices, small businesses have been asking lenders for capital to do just that, so has it been working?

There have been programs from the Small Business Administration that have made getting guaranteed loans from the SBA through various lenders a bit easier, but it seems that the amount of funding going to guarantee loans isn’t enough to meet the needs of small businesses.

Yet, there has been more work done to help small businesses, but so far it has been slow going.  Tax breaks and incentives for small businesses have also been enacted, like an exemption from social security taxes for business owners that hire employees who have been unemployed for a specific amount of time, but this is still an ongoing process.

While there is no overnight solution for job creation, small business owners should be on the look out for opportunities from lenders to obtain a small business loan for their company, if it would help your company grow, and tax incentives from the federal government for hiring unemployed men and women.

For the economy to improve there needs to be action taken from states and the federal government, as well as banks, since the wait-and-see approach has been doing little to help small businesses or those who have been unemployed for many months.