CA Recovery So Bad Few Willing to Take Gov’t Loans in Tulare
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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.
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.”
http://capoliticalnews.com/2012/12/11/ca-recovery-so-bad-few-willing-to-take-govt-loans-in-tulare/
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