Last Friday, President Obama extolled that there are “glimmers of hope” in the U.S. economy for recovery, which has been experiencing the deepest recession in a generation.
Dennis Romero over at the Entrepreneur.com Daily Dose blog has a great summary of the president’s remarks at the White House.
Since March, the Small Business Administration’s popular small business loan program has expanded by 20% when the administration announced stronger loan guarantees for credit administered through the SBA.
The President commented to reporters at the White House, “We feel very good about the progress that we’re making in unlocking lending in some particular markets, for example the small business area.”
He went on to say regarding the 20% increase in small business lending, “And what that means is that small businesses are starting to get money that allows them to keep their doors open, make payroll, and that is going to contribute to our overall economic growth, as well as help make sure that people are able to keep their jobs.
Additionally, home refinancing has shown signs of improvement, which is helping stabilize the sector of the economy that’s at the heart of the recession.
In light of this, now may be the time to incorporate online – check out our post from last October detailing Reasons to Consider Starting a Small Business in a Recession.