Small loans to keep troubled firms afloat
Posted Wednesday, February 25th, 2009The newly inked federal economic stimulus package offers only limited benefits for small businesses — but Central Florida lenders say any help in 2009 is welcome.
Of particular interest is the stimulus package’s $35,000 life preserver for small businesses drowning in red ink.
Under the law, the Small Business Administration temporarily will guarantee 100 percent of loans of up to $35,000 issued by banks to small businesses struggling to make payments on existing debt. The SBA will pay the interest on the loan, and small businesses will have a year before they must start repaying it. Read full story:
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immediately, reducing the amount of income on which they pay taxes. But if you overlook applicable deductions or fail to keep adequate records that will back up your write-offs during an audit, you give up opportunities to cut your tax bill. 
