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Where's My Bailout? It Might Be Coming Soon

A frequently heard refrain on Main Street as the U.S. government bailed out Wall Street was this: Hey Uncle Sam, where's my bailout?

If you own a small business, you might be getting your own TARP funding soon. According to Washington Post reporting by David Cho, the White House is considering a proposal to use bailout money for loans to small businesses in the hopes of spurring more hiring.

The plan is to set up a new TARP entity that would allow banks to access funds without restrictions, so they in turn could offer attractive small-business loans. Similar proposals to stimulate bank lending failed because banks were hesitant to tie themselves to TARP restrictions.

The idea that a business loan will convince small-business owners to hire is controversial. SBOs I talk with just roll their eyes at the thought of adding debt and head count with the economic climate so unclear.

For small-business owners reading this, what do you think? Would attractive (presumably low interest) loans convince you to do some more hiring?