Sen. George Voinovich (Ohio) said they would vote with Democrats to pass a bill allocating billions to finance loans for small business. President Obama spoke to pending legislation in his speech last week, specifically Voinovich expressed satisfaction that the Republicans stop blocking the bill. The Senate package has yet to go to the House for approval.

Small Business Administration loans have been raised for many years as a primary source of cash for companies and from the last two years, have become harder to find. Lenders have tightened their qualifications and simply are not paying as before.

In its current form, the bill would establish a fund of 30 billion dollars to encourage banks to make loans to small businesses, and provide nearly $ 12 billion in tax breaks for small businesses. The main benefit that President Obama and the lawmakers are trying to create in the federal package of small business loans is job creation.

Small businesses need access to cash to expand, allowing them to take more personal. When companies can not get the money they need to grow, let alone to cope with unexpected obstacles so they can stay in business, then they can not recruit and often need to let people go, so that unemployment is still higher in their communities.

Make small business loans will allow companies to invest in inventory, facilities, and manufacture of machinery needed to grow their businesses. Very important is that you have the facility built here in the U.S.. Large corporations are taking their loans with low rates and spending abroad to build factories and manufacturing plants where labor is cheaper, while small business owners are much more likely to keep their business close to home.

Small business owners will be in a much better soon, if all goes well in the House. The economic recovery is not just happening by itself. We hope that this new battery of government spending will provide a real stimulus to create jobs.