Federal official says economic stimulus is helping Virginia‘s small businesses
Richmond Times-Dispatch
Published: November 5, 2009
The federal economic stimulus program is working for small business in Virginia, the chief of staff of the U.S. Small Business Administration said.
The SBA has provided more than 2,000 loans worth nearly $280 million to the state’s small entrepreneurs, says Ana M. Ma.
“Borrowers are reporting that these loans are saving or creating thousands of jobs around the state,“ Ma said.
She spoke today to about 120 people at the Virginia Asian Chamber of Commerce’s procurement conference at the Crowne Plaza Hotel West in Henrico County.
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Reader Reactions
That’s a good thing, providing more than 2,000 loans worth nearly $280 million to the state’s small entrepreneurs. Payday lending gets a bad rap. Essentially the argument is that lenders open up a shop in poor areas to prey upon the desperate, but when payday lending as an industry is studied, that isn’t the universal case, at all. Think about it this way: payday lenders and pawn shops tend to be located in areas where inhabitants have typically lower credit scores and less access to credit, which is true according to a study by the Federal Reserve, headed by Robin Prager, which is to say that – and listen to this one closely – SUPPLY HAS FOLLOWED DEMAND. Perhaps instead of railing at payday lenders and payday loans, you might try coming up with a solution to poverty you cads.
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