Federal Programs Help Small Businesses

The Small Business Administration has two programs setup according to U.S. Senator Mary Landrieu of Louisiana. The programs are designed to help the small business that exports, one is the Export Working Capital Program loan, which is coordinated with the U.S. Department of Commerce. This program provides initial lines of credit for suppliers, inventory or the production of goods.

The other program is the Export Express loan, this is a loan that can be taken up to $250,000 and can be used for building a business, including things like counseling, marketing and other advertising. Ronald Kirk, U.S. trade representative testified that he is in favor of creating similar programs to the North American Free Trade Agreement to open up the market for American goods. This he believes will make life better for the small American business owner.

On the whole, there simply a lot of small businesses as well as individuals who could really use some good credit counseling right now. The acting deputy assistant secretary of the U.S. Department of Commerce stated a report of the strategy will not be published this year, but they would meet this fall.

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