Does the Government Shutdown Impact your small business?

NEsq Business Loan app.png

Maybe.

If you have a large number of veteran, active service or federal employees who are your customers, rely on a federal landmark, or perhaps you've filed for an early tax refund, you may be $@& out of luck. If your business relies on your ability to travel abroad, and your passport is pending, you're in the same S@#& house.  

The real situation to cause small business owners to clinch if you're relying on a loan guaranteed by the Small Business Administration.  If you count you're among those whose business relies on getting the cash proceeds from an SBA guaranteed loan and you've put your name on the line? Well, the current government shutdown, you and your business are in the swill.  It’s first when the legislative and execimutive branch is inder control of one party since the change in budget process in the mid-1970s, impacts you and your business. A shutdown halts federal loans to small businesses. During a shutdown, the Small Business Adminisitration stops approving applications for small businesses to obtain loans and loan guarantees, typically $1 billion per month. During the 2013 16-day shutdown, the SBA was unable to process about 700 applications for $140 million in small business loans.