Tag: Small Business Loans

Tale of 2 Countries: Small Business, Growth, and Green Jobs

The USA:

Jobs: Small Business Loans Are The Mountain Blocking Economic Recovery

Phillip Williams — Apr 17, 2010

Why Small Business Loans Are Important

The economy has lost 8.4 million jobs since the start of the recession. Small businesses employ the majority of the American workforce, although the largest single employer is still the federal government.

When the economy starts to recover small businesses rely on loans to bring up their inventory levels. Large banks and smaller institutions have been reluctant to introduce new loans after the failure of a large number banking institutions.

Small banks do not have the resources to start lending again, and the number of new loans have gone down since the start of the recession.

Banks that received funds from the Troubled Asset Relief program. The larger banks that were branded as too big to fail have also reduced the number of new loans they make to small businesses. They have reinvested the funds in lower-return, lower-risk treasury bonds instead.

The half-hearted, Greening of America, via China, Spain, Poland …

Elusive Goal of Greening U.S. Energy

By STEVEN GREENHOUSE, Dec 2, 2009

The Great Green Hope for lifting America’s economy is not looking so robust.

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Growth in clean energy industries and in green jobs has been considerably slower and bumpier than anticipated, industry experts say.

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Last week, the Gamesa wind turbine plant in western Pennsylvania announced it was laying off nearly half its 280 workers. Last month, General Electric said it would close a solar panel factory in Delaware

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There are myriad reasons why green jobs have grown more slowly than hoped. The clean energy component of the $787 billion stimulus package has only recently started to kick in. Energy experts say that banks, which have been reluctant to lend generally, have been especially loath to lend for alternative energy projects.

And renewable-energy companies are hesitating to invest in new plants and equipment before Congress enacts new environmental mandates, like cap and trade, to limit carbon emissions.

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