Small Biz Newsmakers: Karen Mills, SBA Administrator
President Obama recently outlined his proposal to help small business owners secure funding during these difficult economic times. President Obama urged Congress to increase the maximum size of SBA loans and also pledged to support community banks. Karen Mills, Administrator of the U.S. Small Business Administration, discusses this proposal and other issues currently effecting small business owners.
In response to the increasingly stringent lending policies of commercial banks, some small business owners are turning to community banks to help them survive. We'll meet two entrepreneurs in Westwood, New Jersey who are using their local community bank to help them work through their financial troubles. Find out how a community bank may be able to help you when a larger bank can't, or won't.
--Paul Merski, Chief Economist and Director of Federal Tax Policy for the Independent Community Bankers of America
--Norm Brodsky, Inc. Magazine columnist and author of "The Knack: How Street-Smart Entrepreneurs Learn to Handle Whatever Comes Up"
--Susan Steinbrecher, founder and CEO of the management consulting firm Steinbrecher & Associates
Small Biz Inspiration
The owners of Foxy Auto & Truck Repair in North Reading, Massachusetts are definitely not your typical mechanics. See how Sally and Sheila Dawson, two sisters who grew up in their father's auto repair shop, decided to start their own garage right across the street and are finding quick success in a traditionally male dominated business.