Big Green Breakthrough

You know how I’m always saying that there’s never been a better time to start a business?

President Obama proved me right this week when he announced  a three-part plan to free up lending to small businesses that includes $730 million to cut lending fees. This is on top of the billions in the stimulus package designed to promote development of companies that create green jobs!

Why the big focus on small biz?

“We know small businesses are the engine of growth in the new economy,” explained Christina Romer, chairwoman of the White House Council of Economic Advisers. “We absolutely want to do things to help them.”

How exactly would the President’s plan help? HispanicBusiness.com explained it most clearly:

1) Allow small business owners to get loans of up to $2 million with government backing and government guarantees of higher loan amounts for major projects that create jobs.

2) Reduce risks to lenders who support small businesses by getting federal guarantees for the loans they make

3) Eliminate fees on small businesses.

Small businesses accounted for about 70% of new job growth over the past ten years, says the Obama Administration.

If you’ve read my Big Green Declaration for Change, you know that I believe small businesses hold the key not only to economic recovery, but to a new prosperity based on health and wellness, work-life balance, and environmental protection.

President Obama just made it easier to realize that dream.