2010 Small Business Loan Act – Just An Act

Small businesses have been suffering this last economic recession – there is no doubt in that. But it is simply not true to say that businesses have not been able to receive credit lines from banks. Bad businesses have not been able to because after the largest banks including Bank of America, Citigroup, and Wells Fargo collapsed and needed to be bailed out by the government, they decided to tighten up their lending practices by not investing in failing and extremely risky businesses.

This new act is just that: an Act! It’s another way for President Barak Obama and the government to flush more money down the proverbial barrel. It’s simply more pork to appease the small business loan lobby. Good businesses have always been able to receive funding.