Small Business Jobs Act of 2010 Could Be Boon for Small Businesses in 2011
A recent article from Fox Business, “Expect More SBA Loans in 2011,” discusses how the Small Business Jobs Act of 2010 (H.R. 5297) could potentially benefit small businesses in 2011.
In addition to other provisions, the most welcome news for small business owners is that Small Business Administration (SBA) lending is supposed to increase this year. The article reports that some experts predict that that the volume of loans will double in 2011.
“According to the SBA, the new law provides approximately $30 billion to small banks (those with less than $10 billion in assets) for lending to small businesses, offers approximately $12 billion in tax breaks to small businesses and expands the loan limitations of the SBA.”
If these figures are correct, it benefits small businesses to have a defensible, impartial asset appraisal conducted by a Certified Machinery and Equipment Appraiser prior to seeking a loan in order to help increase the chances of getting approved. Additionally, if there are some areas where a business may be weak in the eyes of lenders, a business owner can use an appraisal to make changes and improve the chances of getting a loan.
To read more about the Small Business Act of 2010, visit the SBA website.
Present Value LLC is a worldwide international appraisal and advisory company that provides a range of professional services such as Certified Machinery and Equipment Appraisals, Inventory Appraisals, Asset Verification Services, Business Valuations, and Real Estate Appraisals. Contact us today!
By: Present Value
Additional Reading:
SBA Changes to go into Effect on October 1, 2010
Who Needs a Certified Machinery and Equipment Appraisal? Part 1
Who Needs a Certified Machinery and Equipment Appraisal? Part 2