Federal Stimulus Dollars Provide Loans
for Small Businesses
The American Recovery and Reinvestment Act of 2009 is a $787 billion plan designed to stimulate the economy and create jobs. It provides funding to federal agencies that can be used to award contracts, grants, and loans. The Small Business Administration (SBA) plays a key role in this effort. The SBA has implemented programs utilizing nearly $730 million in Recovery Act Funding.
Businesses can receive loans through the SBA. In fact, eight La Quinta businesses have been awarded loans to expand their businesses, purchase equipment, fixtures, and inventory. Businesses range from a beauty college and doctor’s offices to restaurants and motion picture and video distribution.
To find out more information about SBA programs and how to obtain funding for your business, click on the Small Business Association link below.
There are several local agencies in the Coachella Valley that provide free, small business counseling and consulting. They can be a great resource for new and existing businesses. Whether you are thinking of starting a new business and need help with writing a business plan or start-up finances, or you are an existing business and have questions about expanding your business, or have financial and legal concerns -- consult a professional to answer your questions.