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Delaware SBA loans create/retain nearly 200 jobs

Wednesday, December 9th, 2009



The creation of 74 jobs, and retention of 120 more may sound like just a drop in the bucket in the overall picture of joblessness.  But the Delaware Small Business Administration says its loans to small business owners  have helped accomplish that just since October 1.

And judging by the phone calls at the Delaware SBA, it seems some people are considering starting a business of their own, instead of searching for a job when the state unemployment rate is 8.7%.

“I would say since a year ago the number of new calls to start a business have doubled,”  Arline Brexs, lead business development specialist with the Delaware Small Business Administration, said.

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In a speech  Tuesday, President Barack Obama said in the last 15 years small businesses have created 65% of all jobs in the U.S.  The President wants to continue to use TARP funds to get more lending moving to small businesses, as well as elminate the capital gains tax for one year, and fees for SBA-backed loans.

“I think eliminating the capital gains tax for one year would help add jobs,” Brex said.

Delaware’s economic development office reports that 93.5% of businesses in Delaware are small businesses, which employ 48% of the state’s workforce.


One Comment

  • Jeff says:

    The Small Business Administration is failing to adequately monitor lenders in its $91-billion loan program, increasing the risk of defaults, a government report said this week. If they don’t act on this soon enough, then the SBA is not going to be as effective, having less finances to help small businesses.

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