Small Business Loans: The REAL Effect of the Government Shutdown…
http://www.504Experts.com The government shutdown — the thing that has commandeered news headlines for the past three weeks — finally came to an end last night after 16 frustrating days. Our elected officials in Congress have kicked the can far enough down the road that we can avoid widespread panic for the time being, but the damage has already been done.
According to some estimates, small business owners lost out on $100 million per day in SBA loans because of the shutdown. In reality, this number is a little high, but it makes the point: there are many business owners who are now in dire straits because their loans weren’t funded sometime in the past 16 days. Others will be forced to accept higher interest rates (an inevitable outcome of all this hoopla) after sitting on their hands watching the circus in our nation’s Capital.
Watch the short video below for more on what the shutdown really means for small business owners and small business lending…and Mercantile Capital Corporation's more realistic estimate of the SBA’s lost funding during the shutdown…
According to some estimates, small business owners lost out on $100 million per day in SBA loans because of the shutdown. In reality, this number is a little high, but it makes the point: there are many business owners who are now in dire straits because their loans weren’t funded sometime in the past 16 days. Others will be forced to accept higher interest rates (an inevitable outcome of all this hoopla) after sitting on their hands watching the circus in our nation’s Capital.
Watch the short video below for more on what the shutdown really means for small business owners and small business lending…and Mercantile Capital Corporation's more realistic estimate of the SBA’s lost funding during the shutdown…