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.”

Visit www.asta.org.

Read more on:

Suggested Articles:

A total of 30 deals worth $458.86 million were unveiled in February 2020, compared to the 12-month average of 37 deals. Read more.

The unemployment compensation is among the most relevant sections of the CARES Act for ICs and self-employed advisors. Learn more here.

This campaign, divided into two phases, includes social media and email marketing content that displays the value of using a travel advisor. See more.