CA Recovery So Bad Few Willing to Take Gov’t Loans in Tulare
How much do small businesses distrust Sacramento and the California government? Enough so, that they will not take loans. Low interests rates did not entice folks into a business deal with government. Of course, with tax collections of over 50%, already, government IS your partner—you take the risk, they take the money.
“Due to a lack of willing participants, Tulare County will have to return $282,000 in grant money to the state. The funds were intended to provide low-interest loans to small businesses, but the micro-enterprise assistance program stumbled in light of few takers, particularly in an economic climate that has left many hesitant to take on a loan. While some of the money was used for business and financial training, those interested in making improvements to their businesses balked at participating in a loan program, despite the incredibly low interest rates.”