BOSTON, Feb. 13, 2014 /PRNewswire-iReach/ -- With Affordable Care Act now on books, President Obama has renewed his commitment to economic growth, primarily by improving funding opportunities for small businesses. Study after study has shown that small businesses are the primary drivers when it comes to job growth. Until recently, Small Business Administration (SBA) has been guaranteeing loans to ensure their availability to the widest range of business consumers possible.
The New York Times reported that SBA-guaranteed general business loans or 7 (a) loans for $1.5 billion or less has fallen from $3.5 billion to $1.5 billion. Under Obama Administration's initiative, the new 2014 budget would waive SBA's fees and thus possibly result in more funding being available to small business owners.
The Small Business Administration does not make loans directly. Instead, it serves as a sort of mega insuring agency that guarantees loans made by banks and lenders to small businesses. Due to the presence of SBA, lenders may recover nearly seventy percent to ninety percent should a borrowing business entity default.
The new budget would now allow SBA to focus on these smaller loans for small businesses and that would be a major victory for business owners who are looking for extra funds to either shore up working capital or investment in new projects, technologies, or marketing initiatives.
http://www.nationalloans.com/business-investing.html, a site that helps small businesses apply for a wide range of business loans confirms that its network of hundreds of lenders includes those that work with the SBA. The presence of these lenders would mean more funds being available for small businesses, especially loans under $150,000.
"I think this is a major positive step -- and they got it right this time -- toward fueling small business economic activity and job growth. In my opinion, SBA's higher fee structure was probably scaling down the volume of loans being offered. But with Obama Administration's new focus on freeing up loan resources for small businesses, SBA loans will become accessible to a growing percentage of the small business population," says James Shank, founder of http://www.nationalloans.com
National Loans is a premier destination for small businesses seeking funding and loans from a wide pool of lenders. The site makes available diverse resources and helps business borrowers apply and qualify for a variety of loans, including SBA-backed loans and low interest working capital and expansion loans that would empower businesses to grow and compete in a global economy.
The loans range from a few hundred dollars to several thousand and the process for requesting a free online small business loan quote is as easy as snapping. After completing a few pieces of information the lender contacts the borrower directly with a quote and initiates the process. Funds are deposited quickly and are made available at a lower cost.
Media Contact: James Shank, National Loans Inc, (512) 571-3828, firstname.lastname@example.org
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SOURCE National Loans Inc.