Where Is The Debt Bailout For Small Business Owners?

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Thursday, September 18th, 2008 Subscribe To Our Feed

How many average folks who are either self-employed or run a small business have hit hard times and are wondering to themselves “Where is help for me and my debt load”? There are a lot of small business owners who used to have good or great credit but hit hard times just like the big companies (who’s CEO’s and other officers made millions for “being smart”). These folks, the small business owners, probably had better financial management in place then all these big corporations who now get bailed out by the US government.

Wouldn’t it be nice if instead of bailing out all these huge corporations, money was allocated to bail out small businesses who hit hard times and subsequently fell behind on their personal and business debts? Now with the credit crunch and subsequently small business owners who are now new to the bad credit world, they do not stand a chance to get a bank loan anymore. Maybe their business is surviving or could survive and continue to grow but they need cash. What can they do? Use one of the alternative lending sources outside the traditional banking industry (payday loans, title loans, pawn shops, uncle Vinnie, etc.)?

How many small business owners now have bad personal credit and are now struggling to keep their business and livelihood alive? The big corporations who get a bailout now get some protection (of course the investors loose their shirts – but let’s protect all the corporate officers’ salary’s, right? – Hey maybe they (the corporate officers of these failed companies) should have to give back any bonuses and outrageous salaries they made over the last few years).

Think about this, who is more likely to create jobs – the companies the government just bailed out or the small business owner who needs cash to continue operating their business or grow their business? The small business owners are more likely to help the economy if they could just get their hands on some cash to operate or grow their business. But now they have bad credit due to tight cash flow and this has affected both their business and personal affairs. Do they have to let their business fail and go find a job at some large company that may fail soon? The bailouts are probably ending for the big companies, or maybe they will continue until the US economy can no longer recover and the great depression looks like a day in the park.

Let’s stop the bailouts of big companies and instead give a cash infusion to all the small business owners who still need cash to run their business but can no longer obtain financing due to now having bad credit and tight cash flows.