Many small business owners are hopeful that the passage of the new small business bill will provide the small business lending opportunities that many have been seeking over the past months. The Small Business Administration previously had funding that allowed them to guarantee a higher percentage of small business loans but when that funding expired many business owners claimed that lending opportunities disappeared.
Yet, the new small business bill that was recently passed is hope to not only provide tax cuts for small businesses but also lending opportunities from community banks, which will be helpful to those companies that are in need of capital to grow and expand. There is also hope that by opening up lending opportunities for small businesses, job creation will soon follow.
However, there are those who worry that small business loans, even SBA loans, will not be enough to promote employers to hire new workers. While there are companies who need funding to buy equipment, expand their operations, or to simply handle more clients, there is worry that providing small business opportunities is not enough to spur the job creation that is needed.
While there have been some jobs created from tax credits that are available to employers who hire new workers, there are those who say that small businesses that take on debt through these small business lending opportunities will be unwilling to hire workers at the present time. It’s true that there may be companies in need of small business loans who might be able to add workers at the present time, but it’s hoped that small business loans will allow some companies the opportunity to hire more workers or simply give businesses the chance to grow so that they can begin adding workers in the near future.