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    Snowe Proposes End to Big Program

    By Marc Tracy

    Via You're The Boss, we see that Sen. Olympia Snowe (R-Me.), the ranking member of the Small Business & Entrepreneurship Committee and our favorite senator, is actually seeking to end the America's Recovery Capital lending program before it wastes $120 million more of taxpayer money. A 60% default rate will make you think that way, we suppose.

    Snowe's bill really is a stop-him-before-he-kills-again measugre. Over $130 million has alrady been lent out in 100%-backed microloans to struggling but "viable" small businesses trying to pay back pre-existing debt. The bill is about saving what remains of the $255 million originally allocated to the program (back in last February's stimulus act) and, presumably, putting it to more productive use. If legislators need any further convincing that Snowe's bill is probably a good idea, they should read what our Anonymous Banker had to say about the ARC program. This was bad from the start. Let's limit the damage.

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    November 20, 2009 11:26 AM

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    The Purpose Linked Organization

    by Alaina Love

    On Tuesday, July 14 earn how to harness your employees' passions so that they further your own.

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