If you are a small business owner, you know there was welcome relief in the American Recovery and Reinvestment Act of 2009, popularly known as the Stimulus Act. So what was so great about the Act? Among other things, section 501 reduced the fees paid by borrowers so they did not have to pay the dreaded “SBA loan guarantee fee”. This was traditionally 2% of 75% of the loan amount on the large 7(a) loans. Also, section 502 increased the guarantee percentage which pays banks their losses upon default, from 75 to 90%. Cause for celebration? Absolutely. But we must temper our excitement with the fact these benefits may no longer be in effect if Congress does not appropriate more money. In fact, some pundits think it may run out in December based on the volume of SBA loans.
In the U.S. at the end of 2009 the total number of ETFs was 772. From 1999 to 2009 they rose from 30 to 698. From 1999 to 2009 domestic assets grew from $33 billion to $705 billion from 1999 to 2009. Between 2000 and 2009 the number of ETFs grew from 6 to 815.
Who will have authority over the funds? Local and state politicians whose prior management of the area is suspect to say the least? The federal government? An independent agency? Who?
And they are not alone. Virtually every economy in the world that had any semblance of stability printed billions of their own currency as a global stimulus ensued in the aftermath of the economic crisis of October 2008. From Viet Nam to Dubai to China, Europe and many, many more governments went to their Treasuries and Central Banks and authorized them to print more currency in an aggressive attempt stave off economic collapse. The world’s economies are Funds recovery uk on edge.
Those with radios knew we were now directly in the middle of the storm at that point and that there was more on its way. We were experiencing the eye of the storm. Any minute, the wind and rain would pick up and we would have to get ready for the second round of Charley.
For what has been reported you can find details about allocated funds and recovery projects. You can even search by zip code for projects in your area.
Many people in the financial sector have undoubtedly been telling you not to panic. The economy is cyclical. It will recover and over time you will get the money back that you have lost. Look at the charts and graphs. They don’t lie. There have always been high and low cycles and recovery has always occurred. Holding the line probably will get you back to where you were. However, what is going to move you ahead and help you get to where you should have been through the months lost to the recession and recovery?
Above all else, we can certainly pray to the Lord for the rescue of the many people and animals who remain stranded and/or homeless as well as for the sustained recovery effort. Hurricane Katrina was a terrible natural disaster, but as with any event of this magnitude so many hearts have been pricked to help those who have been hurt. Certainly, that can’t be a bad thing.