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Obama to announce new measures to boost lending for struggling small business owners.

Amid misgivings over his spending blueprint, President Barack Obama has decided to provide billions of dollars in federal lending aid aimed at struggling small business owners.
The broad package of measures to be announced Monday includes portions of the $730 million from the stimulus plan that will be used to immediately reduce small-business lending fees and increase the government guarantee on some Small Business Administration loans to 90 percent. The government also will take aggressive steps to boost bank liquidity with more than $10 billion aimed at unfreezing the secondary credit market.

In the coming weeks, the SBA will unveil additional initiatives as part of the stimulus plan to help a small-business community that is seen as critical to staving off job losses and promoting economic growth, officials said.

“It’s a huge step in the right direction,” Douglas Morgan, CEO at Hoffman Meyer Associates in Seattle, said Saturday. “In this economy, having the least amount of risk for banks will incentivize banks to lend to small businesses. A lot of small businesses will benefit from this.”

Hoffman Meyer Associates is Seattle’s leading merger and acquisition, business brokerage firm. As a mergers & acquisition firm, our principals have completed scores of transactions of privately and publicly held companies during the past 25 years.
Over the years, our firm has developed strong relationships with companies and individuals that are ancillary to the mergers & acquisition process including banks, mezzanine lenders, asset lenders, transaction attorneys, certified public accountants, and financial planners. We are also affiliate members of leading merger & acquisition, business valuation, accounting and brokerage associations.