Tuesday, October 5, 2010

Small-business loans: Small businesses gear up to hire and upgrade as federal loan money starts to flow - latimes.com

Small-business loans: Small businesses gear up to hire and upgrade as federal loan money starts to flow - latimes.com

After months of frustration and delays, small-business owners in Southern California are finally getting long-awaited loans to hire new workers and expand their operations.

Money for loans backed by the Small Business Administration, but held up for weeks in Congress, is on its way. Just days after President Obama signed a $30-billion-plus package of incentives for small businesses, Southland bankers, bureaucrats and borrowers are scrambling to nail down the final details and get the money flowing.

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