ASTA Asks Obama To Expand Small Business Lending

ASTA has written to President-elect Obama's Transportation Transition Team asking the Obama administration to tackle the job of creating a new federal government program to provide direct loans to cash-strapped small business owners. The move is a follow-up to ASTA's recent letter to the Small Business Administration (SBA). On November 18, ASTA wrote to the SBA asking that the agency use its existing authority to provide direct low-interest rate loans to small businesses.

“During this period of economic distress, travel agents and other small businesses would be greatly aided by such a lending program," ASTA said in its letter to Obama's transition team. "It is important to note that this proposal is not a bailout— rather, it is simply a means of providing credit (to be repaid at a later date) more rapidly than the usual process of obtaining SBA-backed small business loans from private lenders. A short-term expansion of SBA's direct lending programs would be a valuable lifeline for small businesses that are finding difficulty obtaining credit, and would be welcomed as an early sign of the Obama-Biden Administration's commitment to the small business community.”


Read more on:

Suggested Articles:

The Hub has general 100% Pure New Zealand brand materials, marketing campaigns and themed travel experiences. Learn more here.

According to the Amex Trendex, at least three in five consumers, surveyed across seven countries, plan to stay home for the holidays this year. 

To keep travel advisors engaged and informed, Carnival SVP of trade sales and marketing Adolfo Perez launched a new webcast conversation series.