Donna Fox- Credit Millioniare

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After 56 days in office as the 44th president, Obama has done some work on making life easier for the small business owner. Everone is talking about the stimulus plan and how the small business owner can get in on it.

A lot of people are trying to figure out how to ‘get some stimulus money’. Impacts from the $787 billion stimulus package, the tax breaks from new home buyers to renewable energy, are still rolling out.

On Monday, Obama unveiled his $15 billion plan to inject life into the credit market to help small businesses. The plan calls for $730 million of the stimulus plan to reduce lending fees and increase loan guarantees for small business to 90 percent.  The plan also will provide banks $15 billion in hopes of loosening the credit market and increasing lending to small businesses.  However, economic plans don’t take effect overnight, and the payoff may not be seen in the markets until next year. (more…)

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