House Stimulus Plan Includes $880 Million for Small Business

Jason Hicks |

WASHINGTON — The $825 billion spending and tax cut package recently passed in the House of Representatives includes an additional $880 million of federal help for small business. President Barack Obama has called for quick action on legislation that would provide upward of $800 million over two years.
The plan would provide $430 million for new direct lending and loan guarantees for small businesses. Another $100 million is tagged for grants and loans to rural business cooperatives. The plan calls for an additional $100 million for industrial technology services, chiefly to accelerate research into technologies with high job-growth potential.
Urban and rural areas would receive $250 million of federal economic development assistance based on need and the ability to create jobs and attract private investment.

About the author

Jason Hicks

American Drycleaner

Jason Hicks was assistant editor for American Trade Magazines, which publishes American Coin-Op, American Drycleaner and American Laundry News, for more than nine years, and web editor for three years.


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