President Obama Supports “Easier” Funding for SBA

Published on August 30, 2012 by Bob Coleman, Editor; The Coleman Report

President Obama has put social news website Reddit on the front pages with his interview with Reddit users. I’m unfamiliar with the site, so it was fun to see what the fuss is all about.

What quickly piqued my interest was the President’s response to a small business support question.

With the “you didn’t build it” gaffe/statement, depending on your point of view, small business issues are becoming a forefront topic of the campaign. And it is a bipartisan issue both candidates are supporting. The question is how deep will their support will run.

Here is the question to the President, “How are you going help small businesses in 2013 and 2014? and what if any bills are you going to implement for small businesses, in 2013, and 2014?”

The President wrote, “We’ve really focused on this since I came into office – 18 tax cuts for small business, easier funding from the SBA. Going forward, I want to keep taxes low for the 98 percent of small businesses that have $250,000 or less in income, make it easier for small business to access financing, and expand their opportunities to export. And we will be implementing the Jobs Act bill that I signed that will make it easier for startups to access crowd-funding and reduce their tax burden at the start-up stage.”

I have no problem with the President’s response and it would have been nice if there was follow up amplifications of his answer. I am guessing he is referring to the new SBA Small Business Lending Advantage Program, but it would be nice to hear more about “easier.”

However, the amazing part of the Reddit responses is most users had no clue of what the definition of $250,000 is, with many thinking it was revenues, not profits.

With the discussion at that elementary level, the important “devil in the details” discussion was lost on some frighteningly ignorant comments.

And we still are intrigued by “easier.”

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