NASE on Micro-Business

Stimulus News

Posted on: April 28, 2009

Briefly noted:

  • The extension of employer-sponsored health insurance coverage under COBRA as part of the economic stimulus bill goes into effect this week.  Firms with 20 or more employees are responsible for 65 percent of health insurance premiums for former employees for up to nine months.  The IRS has information to help employers claim credit for these payments.   
  • President Obama’s task force may be looking into changing SBA guidelines so that car dealerships could qualify for SBA loans.  While tens of thousands of dealerships are at risk of closing, the average dealer has revenues of $40-45 million and thus exceeds the revenue cap of $29 million for SBA loan recipients.  The American Reinvestment and Recovery Act set aside $730 million for Small  Business Administration programs with the hope that these provisions would spur lending to small businesses.

How will paying premiums under COBRA for former employees affect your business?  Do you think lending to small businesses has increased since the passage of the stimulus?  Do you think car dealerships should be eligible for SBA loans?

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