The President of United States of America, presented Budget for the FY 2009. The Budget assured of attaining certain objectives. The importance of the budget was inevitable. The article below reflects features pertaining to small business administration and US budget.
Importance of US Budget 2009:
The budget prioritized the defense of the country and security of the homeland. It was stated that the budget would also assist in helping the economy grow. Making tax relief a permanent feature was indicated in the budget.
It also controls spending. The Federal government aimed at bringing about betterment in the sectors related to health and education.
The Budget was presented electronically by the President.
Small Businesses Administration and Budget- At a Glance:
It was estimated that the budget would extend USD$28 billion towards loan guarantees pertaining to small businesses. The budget would make the product delivery system stronger and focused. Disaster recovery would also be improved by introducing a loan program. The contracting dollars of the Federal government would be targeted at USD$85 billion.
Estimated allocation of funds to small businesses administration:
It was estimated that approximately USD$17.5 billion would be allotted for the loan guarantee program pertaining to working capital of small businesses. As compared to lending of 2007, there was an increase of 29%. Efforts would be taken to cater to the needs of the less prioritized markets.
The Federal government would extend about USD$7.5 billion as far as guaranteed debentures are concerned. This would permit the Certified Development Companies for infrastructural investments. As compared to 2007, the lending was increased by 19%.
To support the loan program related to disaster management, the Federal government is likely to extend a financial assistance of USD$1.1 billion.
Since the year 2001, as much as USD$114 billion was sanctioned as guaranteed loans.
The figures indicated above are the estimated figures assigned for various purposes under small business administration.