Government Grants for All

New Somalia Famine Relief Campaign, I AM A STAR, Redefines ?Star Power? with Fresh, Creative Approach

New Somalia Famine Relief Campaign, I AM A STAR, Redefines ‘Star Power’ with Fresh, Creative Approach

Forget doom and gloom—I AM A STAR is a hip and hopeful way to unite, inspire and empower individuals to shine for Somalia.

Minneapolis, MN (PRWEB) October 13, 2011

People around the globe are leading an innovative effort to meet the Famine in Somalia head-on with a groundswell of powerful action. “I AM A STAR” is a new collaborative platform that brings together Somali Diaspora communities from around the globe, aid workers on the ground in Somalia, and people across the world.

“I AM A STAR addresses Famine relief in a fresh and uplifting way,” said Daniel Wordsworth, President of the American Refugee Committee. “It’s rooted in the Somali Diaspora community’s leadership and passion for change and the American Refugee Committee’s experience and expertise—and it makes room for the solidarity and creativity of motivated people everywhere.”

A number of Somali artists are leading as creative partners in developing I AM A STAR, including:

fashion designers Ayaan and Idyl Mohallim from Mataano;
musicians Siham and Iman Hashi from the band Sweet Rush;
Chef Roble Ali, a chef who will be featured on “Roble and Co.”, a new show which will air on Bravo network; and
Poet Nation, a Somali art and culture hub that engages youth from around the world.

The “do-it-yourself” (DIY) campaign inspires people to get involved at the local level, in any way they choose, to help provide Famine relief and shine a light on Somali culture and people. I AM A STAR is a message of solidarity and of human potential—and people from around the world are already stepping forward to “Be a Star” for Somalia, including:

Kids from suburban Minneapolis who raised funds for Famine relief by painting rocks from their backyard and selling them;
A Somali-American doctor from San Diego who recently spent 3 weeks volunteering in a hospital in Mogadishu;
A Somali-American student in Columbus, Ohio, who organized a bake sale at her school to support Famine relief;
A group of Somali-American students from Minnesota that hosted car washes and other fundraising activities and raised $ 11,000 to support Somali relief efforts;
A group of college students who organized “Run to Unite”, a 5K Run/Walk which will take place on October 16;
Congolese refugees living in a refugee camp in Rwanda who are painting an “I AM A STAR” mural in the camp; and
Employees at a global money wiring service with offices in 500 locations around the world—from Dubai to Kenya to Somalia to the U.S.—who are wearing I AM A STAR T-shirts to support the campaign.

Leading technology, innovation, and grassroots mobilizing groups designed the I AM A STAR platform to unite, inspire, and empower people from around the globe:

IDEO, the global innovation and design firm, designed the campaign;
Pivotal Labs, the software company which designed Twitter, provided digital development along with Heroku;
Music for Relief, which has organized musicians and their fans worldwide to support international humanitarian causes, is providing support; and
4REAL, which works to make change around the world and airs a series on the National Geographic Channel, is helping tell the story of the campaign.

I AM A STAR serves as a springboard for inspiration and action. Unlike traditional campaigns, I AM A STAR is starting a conversation that will be owned and directed by participants through:

An interactive website (IAMASTAR.org), which provides a collaborative platform for people to come up with their own ways to shine and offers dozens of suggestions for how anyone can “Be A Star for Somalia”— from Tweeting or blogging, to organizing a car wash, bake sale or flash mob, to lobbying world leaders or volunteering. The site offers resources to learn about the crisis in Somalia and the impact of relief efforts;
A video, which features members of the Somali Diaspora and others who have taken action to help Somalia—as well as footage of relief efforts led by ARC in Mogadishu;
Social networking, which connects people in a learning and sharing community and serves as a platform to take action to both support and be inspired by people from around the world; and
Events such as cook-offs, educational forums, and car washes which bring people together in places such as Denmark, Dubai, and the United States to support people in Somalia who are struggling to survive.

The I AM A STAR campaign is building on the momentum of the many young members of the Somali Diaspora who have taken action. Already, their work has been highlighted by Secretary of State Hillary Rodham Clinton. U2’s Bono has also drawn attention to the campaign. Word of I AM A STAR is spreading via social media, with blue stars popping up as profile pictures, and “I AM A STAR” emblazoned on Facebook walls and Twitter feeds.

The campaign’s STAR imagery draws on the flag of Somalia—a single white star of unity on a field of blue. Members of the Somali Diaspora and everyday citizens from around the world are featured throughout the campaign, each holding a sign with a blue star and proclaiming, “I am a star!”

The number of people affected by the Famine in Somalia is staggering, and I AM A STAR connects people to the impact of relief efforts on the ground. Relief teams from the American Refugee Committee are assisting people in Mogadishu and other parts of Somalia, providing clean water, latrines, health care, and other life-saving support. ARC is also supporting Benadir Mother and Child Hospital in Mogadishu—the situation there is dire. On average, staff receives 150 to 200 sick children each day. And every day, they see children die of preventable causes. The I AM A STAR website features firsthand-perspective videos from aid workers who have been on the ground recently providing relief.

I AM A STAR also highlights the culture of Somalia—a nation of poets, artists, mothers, fathers, children, innovators, farmers, businesspeople…human beings. A set of short videos feature members of the Somali Diaspora, who have family in Somalia, sharing their cultural traditions and hopes for the future of Somalia.

I AM A STAR is working to create a vibrant community of action, and to inspire other people to join in taking action for Somalia. The magnitude of the Famine crisis requires everyone to give their best and demands our action and our creativity. While visitors to the site are primarily encouraged to participate in the movement, they can also make a donation to the Somalia relief effort.

To join in the campaign, visit IAMASTAR.org. Check out the video and see how you can participate.

ABOUT THE AMERICAN REFUGEE COMMITTEE:

American Refugee Committee programs are built from the ground up. We work with people at the most vulnerable points in their lives, when they have lost everything to war or disaster. They let us know what they need most, and we work together to develop ways to help them get it. Our programs are as diverse as the people we serve, but they all work together for the same goal: to help people take back control of their lives. We have worked with refugees around the world for more than 30 years, and we help nearly 2.5 million people a year. We are partnering with the Somali Diaspora community to strengthen community in the U.S. while addressing the humanitarian crisis in Somalia. We are based in Minneapolis, MN. To learn more, visit ARCrelief.org.

CREATIVE PARTNERS INVOLVED IN “I AM A STAR” CAMPAIGN:

Mataano—Somali-American fashion designers Ayaan and Idyl Mohallim, who were recently featured on Oprah.
Sweet Rush—first female Somalis to be signed to a major U.S. record label.
IDEO—award-winning global innovation and design firm that takes a human-centered, design-based approach to helping organizations in the public and private sectors innovate and grow.
Music for Relief—grassroots effort comprised of musicians, music industry professionals, and fans who work together to create positive change, support disaster relief, and reduce global warming.
4REAL—connects people, projects and tools to make change real around the world; the series airs on National Geographic Channel.
Abdi Roble—renowned Somali-American photographer who documented the lives of the Somali Diaspora around the world through the Somali Documentary Project.
Chef Roble Ali—New York-based Somali-American chef who will be featured on “Roble and Co.”, a new show which will air on Bravo network.
Poet Nation—Somali art and culture hub that engages youth from around the world through poetry, music, and story-telling.

COMMUNITY ADVISORS:

Internally Displaced Somalis Advisory Council—A group of Somali professionals that has counseled the American Refugee Committee on its efforts to build community in the U.S. and in Somalia.
Step UP For Somalia—Canada-based group which organized a four-day walk for Famine relief; the walk began an international movement of support for Somalia.
Somali Student Association/University of Minnesota—Student group which connects Somali students and intellectuals, encourages high school students to seek higher education, and promotes Somali culture.
Hope to End Hunger—A group of Somali-American students who organized fundraisers to support Famine relief.

SUPPORT:

Website/digital development: Pivotal Labs (the software firm that designed Twitter) and Heroku.

###

Attachments

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Related Aid For Single Mothers Press Releases

Tags: Approach, Campaign, Creative, Famine, Fresh, Power, Redefines, Relief, Somalia, Star

Free Government Grant Money For Consumer Debt Relief and Help By USA gov

Free Government Grant Money For Consumer Debt Relief and Help By USA gov

One of the most common concerns among American citizens pdq is consumer debt support. With so multifold of us having overspent beyond the agent of our budgets, and the rising character of lay offs and pay reductions that many masses have recently experienced, it is no dumbfound that this country, seeing a whole, is suffering from extreme inborn debt.There is help for American taxpayers in free government debt compensation grants…Visit here now http://grantsorg-information.blogspot.com

There have always been hundreds of greatly wholesome free bridle grant programs available to American citizens, to assist them financially clout numerous endeavors and projects. due to of late, the United States government has consciously recognized the rising need for consumer debt hand among American taxpayers. In efforts to help the American economy besides furtherance those who are experiencing overwhelming burdens of personal debt, the force is now filtering additional funding care personal debt relief grants.

]]>

What is a debt grant? Free management money to pay your bills.

Government grants are virtually liberate money that is distributed by the US domination to qualified taxpayers who apply. There are free grant programs that cover a variety of personal and individual needs, from business grants, to real estate grants, to college grants, and innumerable more. This free government money is never required to paid shoulder at any time by the fortunate recipients. It is used by taxpayers to purchase homes, establish new businesses, roll in school, and various other efficacious and beneficial purposes.

Personal debt grants are basically the same thing, except they are designed to aid in consumer debt relief by entirely paying smother the past due invoice balances besides creditors of the crack applicants. This is a notably souped up alternative to debt consolidators because you are now relieved of paying your bills tolerably than just condensing them enthusiasm unequaled sophisticated monthly payment. embodied is also a great possibility to bankruptcy because it will not harm your credit rating.

No consideration how deep in debt you are, there is a great chance you can pull yourself completely out of it mastery a very short time if you qualify due to government debt grants. occure the links beneath to find out how much liberate government money can assist you in achieving consumer debt relief. Visit here now http://grantsorg-information.blogspot.com

Find More Free Government Grant Money Articles

Tags: Consumer, Debt, Free, Government, Grant, Help, Money, Relief

Government Grants – Hassle Free Option for Debt Relief

Government grants as an option of debt relief is not very popular. This is basically due to the lack of awareness amongst the people. Every year billions of dollars are kept aside for the purpose of giving away as government grants. People do not opt for these grants for debt relief because they think that either these grants are not available to individuals or they are not eligible to apply for the same.

Why Government Gives Grants For Debt Relief

When people are debt ridden, their expenditure decreases. This reduces the demand for various things in the economy because people will not have money to spend. Slowly this affects all areas of the economy, with the result that the economy of the state / nation suffers. Therefore it is imperative that the people have enough spending capacity so that the economy prospers.

Debt Relief With Government Grants

Government grants are more easily available than other forms of loans. This is because grants unlike loans do not require collateral or any other form of security. These thousands of dollars got as grants can be used for starting a new business, the proceeds from which can be used to clear off previous debts.

]]>

Grants are also available for clearing off debts incurred due to specific reasons like health care, education, business expenses etc. For e.g. a debt incurred for health care purposes like hospitalisation, medical bills, etc. can be cleared with the help of government grants. Debts incurred for setting up a business can also be funded using government grants. This makes government grant an ideal debt relief instrument.

Are grants easily available?

Grants are easily available to those people who can prove to the government that they are not in a position to pay off their debts. The social service office elaborately studies the financial position, outstanding debts and repayment capability of the debtor before issuing the grant. This is to ensure that the grant is going to the extremely needy people who have no other means to salvage their debt ridden situation.

Advantages Of Availing Government Grants For Debt Relief

1. A grant is easily available because no collateral is required to be got for it. The debtor just has to prove that he is not in a position to pay off his debts.

2. A grant is an aid from the government. It is not a loan. Hence it need not be paid back. It is both interest-free and non-taxable. It is given with the sole purpose of getting the finances of the debtor back on track, thereby making him debt-free subsequently.

3. With the availability of government grants for debt relief the debtors are saved from declaring bankruptcy.

4. Grants in comparison with other form of debt relief are a better option because they make the debtor debt free instantly.

Government grants are therefore an ideal debt relief option for those debtors who have no other option but to declare bankruptcy.

Find More Government Grants For Free Articles

Tags: Debt, Free, Government, Grants, Hassle, Option, Relief

Sinusitis Relief Without Using Heavy-Duty Drugs

A few mother scholarships products I can recommend:

Sinusitis Relief Without Using Heavy-Duty Drugs
Yes, there are quite a few ways you can relieve your Sinusitis naturally. There is no longer any need to fear the known (and unknown) side effects from Otc and prescription drugs. Do it the way Mother Nature intended to get lasting relief.
Sinusitis Relief Without Using Heavy-Duty Drugs

The Carbohydrate Addicts Manual
People were not meant to get fat…Mother Nature’s plan did not include fast food and dieting. Learn how we did this to ourselves and how to undo the problem before it’s too late.
The Carbohydrate Addicts Manual

Tags: Drugs, HeavyDuty, Relief, Sinusitis, Using, without

Free Government Grant Money For Consumer Debt Relief and Help By USA gov

Free Government Grant Money For Consumer Debt Relief and Help By USA gov

One of the most common concerns among American citizens pdq is consumer debt support. With so multifold of us having overspent beyond the agent of our budgets, and the rising character of lay offs and pay reductions that many masses have recently experienced, it is no dumbfound that this country, seeing a whole, is suffering from extreme inborn debt.There is help for American taxpayers in free government debt compensation grants…Visit here now http://grantsorg-information.blogspot.com

There have always been hundreds of greatly wholesome free bridle grant programs available to American citizens, to assist them financially clout numerous endeavors and projects. due to of late, the United States government has consciously recognized the rising need for consumer debt hand among American taxpayers. In efforts to help the American economy besides furtherance those who are experiencing overwhelming burdens of personal debt, the force is now filtering additional funding care personal debt relief grants.

]]>

What is a debt grant? Free management money to pay your bills.

Government grants are virtually liberate money that is distributed by the US domination to qualified taxpayers who apply. There are free grant programs that cover a variety of personal and individual needs, from business grants, to real estate grants, to college grants, and innumerable more. This free government money is never required to paid shoulder at any time by the fortunate recipients. It is used by taxpayers to purchase homes, establish new businesses, roll in school, and various other efficacious and beneficial purposes.

Personal debt grants are basically the same thing, except they are designed to aid in consumer debt relief by entirely paying smother the past due invoice balances besides creditors of the crack applicants. This is a notably souped up alternative to debt consolidators because you are now relieved of paying your bills tolerably than just condensing them enthusiasm unequaled sophisticated monthly payment. embodied is also a great possibility to bankruptcy because it will not harm your credit rating.

No consideration how deep in debt you are, there is a great chance you can pull yourself completely out of it mastery a very short time if you qualify due to government debt grants. occure the links beneath to find out how much liberate government money can assist you in achieving consumer debt relief. Visit here now http://grantsorg-information.blogspot.com

Tags: Consumer, Debt, Free, Government, Grant, Help, Money, Relief

Government Grants And Loans For Easy Debt Relief ? No Repayments

While many people still use the traditional methods of repaying their creditors, there now are more options available that can be even more beneficial.

While refinancing, borrowing more money, or slowly making minimum payments can eventually help you achieve financial security, they aren’t necessarily the best options available.

Aurora Lillo Editor of the “Government Grants For Debt Relief” website — http://www.GovernmentGrantsForDebtRelief.org — pointed out;

“…A person should consider government grants and loans for easy debt relief since they are usually easy to obtain, and come with little to no strings attached. There is a difference between the two types of relief and which one a person qualifies for will be dependent upon their particular financial situation…”

Benefits of loan from the Federal Government are numerous and should not be overlooked by a person who is having trouble repaying their burdensome debt. First the rules and regulations required by law are such that an individual can save a large amount of money borrowing from the Fed instead of a private lending institution. In general you can expect to have better terms and conditions since the purpose of the lender isn’t necessarily to make a profit. Interest rates for one of these loans is generally a lot lower than that a private company would offer which can literally save a person hundreds, if not thousands of dollars during repayment.

]]>

A grant is even more beneficial in a loan in that the recipient is not required to give back the money. As long as the person approved this money uses it properly, they will not be required to pay back even a penny of that money. Getting approved for this type of relief will require that a person prove that they truly are in need of major assistance. One of the tools that will work in your favor during the application process will be emphasizing your distress in a manner that proves you actually can’t make payments to your lenders.

“…While government grants and loans for easy debt relief are available from different offices and entities, it is up to the consumer to search and apply for them. By utilizing other resources like non-profit groups and software programs designed for this purpose you can easily ensure that you get the money you need. Remember that even if you don’t qualify for a no strings attached program, a loan from the Fed can still be a lot better than using a private institution. The benefits of making use of these programs are too many for you to ignore them…” added A. Lillo.

Further information about debt relief government grants by visiting: http://www.GovernmentGrantsForDebtRelief.org

Find More Government Grants And Loans Articles

Tags: Debt, Easy, Government, Grants, Loans, Relief, Repayments

Small Business Funding: An instant relief in financial crisis

Whether you are a start-up or promising businessman small business funding is the best solution for your business. Many organizations need cash flow to their business either to expand, meet daily operational costs or timely up-gradation.

Obtaining loans from banks and other institutional organizations becomes really difficult for small business. They have to go through tough paperwork and procedures before getting their loans approved. The nonstop running around to these traditional organizations makes them exhausted and sick of procuring loan. Above all the credit rating of the small business makes their situation more painful to get a loan.

Many financial organizations will be happy to offer small business funding to your business to retain in this vigorous ever changing business atmosphere. These organizations make longer credit support to the firms to meet up their last minute cash requirements.

Small business funding can sell your future receivables at discounted prices. You can use funding for small business loans, cash advance, working capital, receivables financing, restaurant equipment, retail funding, business loan, financial service, unsecured loans, and MasterCard sales, Credit Card Receivables, equipment purchases, advertising, renovations, expansion and more.

]]>

FundFactor is the one stop solution for all your fund related problems. We not only provide easy and quick cash flow to your business but also make you get rid of all the formalities of obtaining funds. Our small business advance funding services are available to diverse forms of small business including various retail businesses, restaurants, beauty salons, clothing stores and many more. We offer advance cash funding within 72 hours of receiving an application.
Our small business Funding is designed as a simple and economical way for small businesses to obtain cash funding when they need it. Our payback system is simple and unperturbed. A small fixed percentage will automatically be deducted from your monthly credit card receipts. You do not have to worry about paying fine for late payments.

There is no fixed rate of payment. It is based by the size of your future credit card sales. When your business is flourishing we get paid more and when it is suffering from temporary recession we stand it with you. The percentage and amount to be repaid will never be amplified whether you repay the loan in 6 months or 6 years.

Our small business funding strong points are:

 Cash Advance Funds in as little as 72 Hours

 No Security or Collateral Required

 No Credit Score required

 No Fixed Repayment Term

 No Late Payment Charges

 Repayments Based on a Fixed Percentage of Monthly Credit Card Sales

 Repayments Automatically Deducted from Credit Card Sales

 No tax returns required

 Up to 0,000 per business location

So if you are a big or small venture you need some extra cash for your instant requirement in future. It will save your time and pressure of last minutes running around for cash flow into your business. So before the lack of funds destroys your businesses, contact FundFactor.com for small business funding. We will make it instant.

Visit for more information about More Details ” Small Business Funding” & ” Unsecured Loans“

Tags: Business, Crisis, Financial, Funding, Instant, Relief, Small

Free Government Grants For Debt Relief – Fix Your Credit Without Bankruptcy

Do you feel like your debt has spiraled out of control? Is stress and worry over your finances eating away at you? I know what that feels like. I used to lie awake at night for hours worrying about how I was going to pay off my increasing debt. Then I found a site that showed me how I could get free government grants that would pay off my debt and fix my credit.

You might think this is too good to be true. If I were you I would think the same thing. But the fact is that there is millions of dollars available for the public to access for help with purchasing a home, going to school, and even paying off debt.

The trickiest part of getting a grant for debt relief is that they are not advertised by the agencies that provide them. People find this frustrating and often give up their free government grant search without getting the help they deserve. Unfortunately for those people, getting a grant is as easy as filling out an application.

So how does this work? First thing you need to know is that this is a grant, not a loan, and you will not need to pay back the money. Imagine being able to eliminate your debt in a few days. Using grants for debt relief will also help your credit score. Other solutions like bankruptcy hurt your credit. With free government grants, your creditors will never know you received financial assistance!

Ready to get started? Good, taking the first step is the most important thing you can do for your financial situation. The first thing you are going to do is find the grants that are perfect for your situation. Then you will apply for all of the grants that you are eligible for. It really is that simple. And in a moment I am going to recommend the best resource I have found for getting government grant money. But first I want to say congratulations on taking this step to bring your finances in order.

More Free Government Grant Search Articles

Tags: Bankruptcy, Credit, Debt, Free, Government, Grants, Relief, without

Get Free Money Government Grants For Personal Debt Relief

There is a lot of Free Money available in the the form of a Government Grant but you need to know were to look. If you are trying to get debt relief then a Government Grant can help you eliminate any personal debt that you may have. It seems like it is becoming harder to make ends meet because of the rising price of oil everything from gas to groceries keeps going up.

Learn How to Get a : Government Grant Now

]]>

To keep up with the rising price of all things that we use it seems that it get us further into debt every day because we are charging the things we need because we do not have the money to just pay for them. Although the price of everything we use on a daily basis keeps going up our salaries are not going up to keep up with these high prices and it is causing us to have an alarming amount of debt.

Find the Best : Government Grants

Seeking a Government Grant to eliminate this debt can be a great alternative to consolidating your debt into one loan payment. The advantage you will get by getting a Grant is that the money you receive to pay off your debt will not have to be repaid. This can be a big advantage because even a consolidation loan you will have to pay back and the interest alone can make it difficult.

Remember that when in debt you can get a Government Grant to help eliminate your personal debt and get you on the road to financial freedom.

More Free Money Government Grants Articles

Tags: Debt, Free, Government, Grants, Money, Personal, Relief

Obama’s New SBA Small Business Loan Program: 90% Guarantee Provides Welcome Relief

On March 16, 2009 President Obama, in a long awaited address, finally reached out to the 27.2 million small businesses in this country and extended his hand. He may not have gone to the mountain, but he certainly walked down Main Street and acknowledged the perils of struggling small business owners. And it was just a matter of time that he did so. After all, the American Recovery and Reinvestment Act of 2009 (“Recovery Act”) nicely laid out beneficial provisions for small businesses and just as promised, regulations have come out by the SBA to start the ball rolling. And I’m not talking about more government promises or red tape, but bottom line capital to be infused into the coffers of deserving business owners. So let’s roll up our sleeves and see one of the more important elements that was put into place on Monday.

When the Small Business Act was enacted in 1958, it had a very simple mission. Find a way to get loans to small businesses that couldn’t get them through traditional channels. It did this in an ingenious way. They knew banks where reluctant to loan to small businesses, especially startups, because of fear of failure. So the SBA collected a fee on each loan and used this as a fund to pay banks if there was a default. Bingo, there was invented the SBA guarantee fee. It doesn’t take a degree in rocket science from MIT and an MBA from Harvard to know this gives incentives to the banks to make more loans.

SBA loan programs historically had guarantees of 85% for loans of 0,000 or less and 75% for loans greater than 0,000 (13 CFR Part 120). On the other hand, there are some programs that only go as high as 50%, including the Express Loan program (for those types of loans the new guarantee will not change).

As we all know, on February 17, 2009 the President signed into law the Recovery Act which, under section 502, authorized the SBA to guarantee loans up to 90%. On Monday, the SBA completed its review of the legislation and announced in a Policy Notice that indeed the guarantee would go up to 90% effective March 16th under the various 7(a) SBA loan programs.

Think about this for a moment. Simple math tells us more guarantee, the greater the likelihood of the bank making the loan. For goodness sakes, 90% is tapping on the door of a 100% guarantee! Also note the guaranteed portion is typically sold on the secondary market (which has recently shut down to almost nothing) so there is more chance for loans to be sold and more money to go back into the coffers of the banks for further lending.

Now let us translate this into popular programs for small businesses. The Community Express Loan Program allows quick and reasonably priced SBA loans up to 0,000 (although most lenders are dispersing monies in the neighborhood of between ,000 and ,000 unsecured). They are now guaranteed to 90%. And remember there are lenders now making such a loans even in this economy. The equally popular U.S. Patriot Express Loan Program for veterans and their spouses or windows, goes to 0,000 and is also guaranteed now to 90%. At the same time, the workhorse 7(a) loan program, which is usually for loans in the hundreds of thousands of dollars, was likewise increased to 90%. Not to bore you with the details, but the only exceptions are almost minuscule, namely the guarantees are not used for business ventures involved in gambling, aquariums, zoos, golf courses, or swimming pools. Further, the SBA will not issue a guarantee to a borrower that hires, recruits, or refers for a fee, employees that are unauthorized aliens as defined by the Secretary of Homeland Security.

And it gets even better. Banks that are already SBA lenders don’t have to do anything different in the loan process. Namely, there is no change to the submission process to get a SBA guarantee loan number. They simply get their approvals from the same central processing units throughout the nation as they did before. The same streamlined paperwork.

Of course, taxpayers’ dollars will be funding these guarantees, especially since the borrower no longer pays for a guarantee fee on closing. In other words, the 90% guarantee will stay in effect as long as there is money appropriated by Congress. The current estimate is that approximately .7 billion will be allocated for these guarantees, of course depending upon the loan volume and default rate.

So how will the banks react to this news? Many experts predict in a favorable manner. Obviously, with a 90% guaranty, there is less risk if the loan goes south. This also means the traditional robust secondary market for purchasing government backed loans, once it starts to kick-in, will also find them desirable for purchase in investment pools. There is also another intangible you don’t read about in the news: The environment in Washington has never been better for small businesses. You now have an Administration that respects small businesses and wants to do everything it can to engender their success.

Translation: banks are comfortable with the new SBA (as opposed to the more insular and contentious regime under the Bush administrations that spent more time fighting and failing to communicate with lenders than trying to treat them as partners) and so more willing to make loans even though the default rates go higher. They know the Obama Adminstration will probably understand the situation because of current market conditions.

So for the small business owner, this news of 90% guarantees is very favorable. Why did it take them so long?

Related Veterans Small Business Loan Articles

Tags: Business, Guarantee, Loan, Obama's, Program, Provides, Relief, Small, Welcome