ENTREPRENEWS

Thank you, Mr. President.

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We'd like to take the time out to thank President Obama for his years of service to our country, as well as his advocacy for entrepreneurship! During what was one of the worst financial crisis our country has ever faced, the Obama administration didn't give up on entrepreneurs and aspiring small business owners. Often, he supported the notion that small businesses and entrepreneurs were the engines of economic growth and stability. The administration launched various programs to restart and improve crucial lending markets that included various forms of consumer credit and small business lending. The administration also coordinated a global response to the financial crisis at the London G-20 meeting in April of 2009. This response corralled over $1 Trillion dollars toward the growth of important pillars of local economies. Below are a few ways the Obama Administration has advocated for small business owners and growth over the past 8 years:

- Used proceeds from the Troubled Asset Relief Program (TARP) to stabilize banks that lend to small businesses.
- Signed legislation that expanded SBA lending programs and created new sources of credit for small businesses.
- Established two new small business credit programs—the State Small Business Credit Initiative and the Small Business Lending Fund.
- Launched the Startup in a Day initiative to make it easier for entrepreneurs to start a business by reducing the amount of time it takes to register and apply for permits and licenses at the local level.
- Cut taxes 18 times for small businesses in the first term and made many of those tax cuts permanent.