Bush & Co. Suspend Small Business Loan Program

[KeepItReal]

"Entrepreneur Chris Fosmire has turned a profit since he launched the Cookie Nook in Delray Beach two years ago, and he credits his success to a good idea, hard work and a $31,000 loan backed by the U.S. Small Business Administration.

"I couldn't have done it without the SBA loan," said Fosmire, who runs the three-person cookie and sandwich shop on Federal Highway.

If Fosmire were to apply for an SBA loan today, however, he'd be told to wait. The SBA this week suspended its popular 7(a) loan program, which guarantees billions of dollars every year for thousands of mom-and-pop businesses. "

http://blackenterprise.yellowbrix.com/pages/blackenterprise/Story.nsp?story_id=45642849&ID=blackenterprise

[ComerPerro]

1. This is outrageous

I swear, don't they tout their tax cuts and every corporate handout they give as "helping small business owners"?

Fuck them.

[catmandu57]

2. They ran out of money

just like every program designed to help people make a better life, just like education, it's underfunded and will go belly up in the bright sunshine.
If it doesn't benefit the idle rich, forget it.

[mike_c]

3. but..., didn't Cheney say that deficits don't matter....

They're cleaning out the cookie jar, folks.