I was so frustrated with the inability to manage the Rudofsky Associates blog, that I almost sent a $15 check to Eric Schmidt, the CEO of Google, asking for better consumer support for their Blogger software. Problem is, Blogger software is free, and at that price, the consumer support is pretty much non-existent. There is no way to get a human being on the phone, and although I thought Blogger was a decent entry-level solution when the Rudofsky Associates blog was new, I recently found that I could not use it to delete old posts dating back to 2005 which now had broken links. I never did send the $15 check to Eric Schmidt, but if I had, the cover letter would have gone something like this: “Dear Dr. Schmidt: I know Google currently does not currently offer customer support for Blogger, but here is a check for $15, please hold it, and if you ever do, please put my name at the top of the list!”
Obtaining a Small Business Loan Should Become Easier
President Obama and Treasury Secretary Geithner’s March 16th announcement of plans to “Unlock Credit for Small Business” should have a very positive impact on small business lending in the U.S. Specifically, they have temporarily increased the Small Business Administration 7(a) loan program guarantees from 75% to 90% of the loan value, as the lower percentages had not been large enough to give banks the confidence they need to lend. As most small business owners realize the first time they apply for a small business loan, the SBA is not the actual lender, there still needs to be a lending institution that is willing to take them on as a credit risk. This recent action by the Obama administration shifts more of that risk to Uncle Sam, and should have a very favorable impact on how lending institutions view the risk-return of small business loans, increasing the flow of credit to this essential part of the U.S. economy.
Tags: SBA