Money for Small Businesses

(Originally published November 2010).

A new $30 billion small business fund, created in September as part of the Small Business Jobs and Credit Act of 2010, will provide caplital to community banks, along with incentives for small-business lending.

The government estimates that the $0 billion could leverage up to $300 billion in new loans. The bill also permanently increases the maximum loan amount (from $2 million to $5 million) for two Small Business Administration loan programs- SBA 7a and SBA 504- and introduces noteworthy tax breaks for the self-employed, including one for 2010 health insurance costs.

From the December/November 2010 REALTOR magazine p. 11.